Articles by: Larissa Padden

Lesson From BMW’s E-Car Sharing Initiative

Lesson From BMW’s E-Car Sharing Initiative

IT, Payments, Sales & Marketing April 1, 2015 at 12:17 pm

BMW is making inroads in the millennial market. BMW Financial Services, not so much. How to grab the attention of the Millennial generation has long been a question for auto lenders and manufactures. BMW, the OEM, is hoping that DriveNow, the company’s car share program currently available in San Francisco,Read More

Less Paperwork Boosts Efficiency & Strengthens Dealer Relations

Less Paperwork Boosts Efficiency & Strengthens Dealer Relations

IT, Operations March 9, 2015 at 2:29 pm

Save a tree — use less paper. Cutting down on paperwork can also save a headache, and grow your business. Ent Federal Credit Union, a small community credit union serving Southern Colorado, had a banner year last year, according to William Vogeney, executive vice president and chief lending officer, who estimatesRead More

A Wealth of Data Is Key to Improving Risk Management

A Wealth of Data Is Key to Improving Risk Management

IT, Management, Operations, Risk February 26, 2015 at 4:13 pm

What’s needed to stay innovative in auto finance risk management today? Data, data, and more data, according to Preston Cecil, vice president of risk management at Innovate Auto Finance in Fort Worth, Texas. Cecil spoke about how to not only use existing data, but also find new data, during yesterday’s CenterRead More

CFPB Monetary Resolutions on the Rise — But That’s OK

CFPB Monetary Resolutions on the Rise — But That’s OK

Compliance, Payments February 25, 2015 at 9:27 am

Sometimes only money talks… Consumer complaints, lodged via the Consumer Financial Protection Bureau’s complaint portal, can be closed a number of different ways by lenders, most notably with the dreaded “Monetary Resolution.” Last year, 53 auto lenders resolved 230 complaints with monetary resolutions, compared with 42 companies in 2013. However,Read More

Retention and Loyalty Are GMF Priorities as Lease Provider

Retention and Loyalty Are GMF Priorities as Lease Provider

IT, Operations, Risk February 13, 2015 at 12:11 pm

Customer retention, loyalty, and efficiency are key goals for General Motors Finance Co., now the sole provider of all Buick and GMC subvented leases, an exclusive agreement that went into effect last week. The captive confirmed the partnership in January 2014, taking over a side of the business it previouslyRead More

CREDIT: Delinquencies Remain Low Even as Subprime Grows

CREDIT: Delinquencies Remain Low Even as Subprime Grows

Risk January 28, 2015 at 7:20 pm

DELINQUENCIES Auto loan delinquencies are on the rise, loan terms are getting longer, and as subprime auto lending continues to grow, so does the fear that the industry is on the brink of creating a similar financial crisis that caused the recession about five years ago. That’s the upshot inRead More

Lenders Look to Grow Through Mobile in 2015

Lenders Look to Grow Through Mobile in 2015

IT December 19, 2014 at 5:00 pm

Competition is forecast to be high in 2015, with auto sales slowing and more lenders looking to pick up market share. Plus the elusive attention of millennials continues to be a puzzle many financiers want to solve, and some are hoping that increased mobile capability may help give them anRead More

Operations in Focus: The Future of Auto Finance

Operations in Focus: The Future of Auto Finance

Operations December 10, 2014 at 4:46 pm

In the evolving landscape of auto finance, there are tools and technologies increasingly available to help lenders become more efficient in its operations, thereby allowing them to focus on growth, according to Scott Hendricks, product consultant at Fiserv Automotive Solutions.

Social Media: Friend or Foe to Hiring Managers?

Social Media: Friend or Foe to Hiring Managers?

HR, Operations, Uncategorized December 5, 2014 at 2:22 pm

Social media profiles can be like a window into someone’s life. They can reveal a person’s personality, their likes and dislikes, and even their work ethic – making it a valuable and informative tool for potential employers during a recruitment period.