Articles by: Marcie Belles

How to Get the Right People on Your Team

How to Get the Right People on Your Team

Best Practices, Guides, HR, Management November 4, 2013 at 11:07 am

In a world dominated by smartphones and tablets, by mobile sites and apps, by Twitter and Facebook and Linkedin and loads of other social media sites, it can be easy to forget the most crucial part of most businesses: the people who actually do the job. This dynamic holds trueRead More

VW’s Harris Spells Out Role of Communication in Risk Management

VW’s Harris Spells Out Role of Communication in Risk Management

Best Practices, Management, Risk November 3, 2013 at 1:43 am

People can’t always understand what you’re saying. That was the message from Bruce Harris, vice president and chief risk and strategy officer at Volkswagen Financial Services, to attendees at the 2013 Auto Finance Summit. In a nutshell, Harris said, effective communication is a critical component of risk management. “We assumeRead More

A Look Into the Future of Payment Technology

A Look Into the Future of Payment Technology

Best Practices, IT, Operations November 3, 2013 at 1:30 am

With driverless cars on the horizon, how soon before virtual currency becomes a new form of payment for auto loans? For decades, auto loan payment options have been dominated by hand-written checks and pay-by-phone capabilities. In recent years, online channels have become available. But as the technology available to customersRead More

Six Strategies for a Solid Vendor-Management Program

Six Strategies for a Solid Vendor-Management Program

Best Practices, Compliance, Guides, Management October 29, 2013 at 1:47 pm

The Consumer Financial Protection Bureau’s first auto finance-related enforcement action zeroed in on vendor-management procedures. The takeaway for lenders: Beef up oversight of service-provider partners or risk becoming the focus of CFPB’s next enforcement action. Michelle Shaffer, chief executive of CARMA LLC, a compliance consultancy for the debt-collection industry, offeredRead More

5 Tech Ideas to Spark Growth

5 Tech Ideas to Spark Growth

Best Practices, Guides, IT October 29, 2013 at 12:50 pm

5 tech ideas to spark growth at auto finance companies large and small

Mobile Tech Gains Ground in Collection Space

Mobile Tech Gains Ground in Collection Space

Best Practices, Compliance, IT, Operations May 28, 2013 at 7:51 pm

With three of every four adults in the U.S. using smartphones, according to some estimates, it’s no surprise that lenders and third-party agencies are developing apps and QR codes to collect debts. In today’s post-PC era, everything is shifting more toward notebooks, iPads, and smartphones, a move that allows forRead More

‘Big Data’ Offers Potential for Finance Companies

‘Big Data’ Offers Potential for Finance Companies

Best Practices, IT, Operations May 28, 2013 at 7:35 pm

The amount of data created online last year would fill 57.5 billion 32-GB Apple iPads, which, stacked up, would form a mountain 25 times higher than Mount Fuji. This “big data” presents opportunity ― and obstacles ― for auto financiers, said Don Goin, chief information officer at Capital One AutoRead More

CFPB Official Outlines Nonbank Exam Process

CFPB Official Outlines Nonbank Exam Process

Best Practices, Compliance, Management, Operations May 28, 2013 at 7:26 pm

While the Consumer Financial Protection Bureau has yet to examine financial institutions with less than $10 billion of assets, debt-collection agencies ― and seemingly, by extension, independent auto finance companies ― can already get a sense for what to expect. “When we look at large banks, we look at first-partyRead More

19 Tips for Crafting a Social Media Strategy

19 Tips for Crafting a Social Media Strategy

Best Practices, Guides, IT, Operations May 28, 2013 at 7:19 pm

When it comes to cooking up a social media strategy, the recipe varies from lender to lender. Sure, some ingredients remain consistent ― like management buy-in, brand awareness, and compliance concerns ― but their measurements vary. Though banks are still fine-tuning their formulas, here’s a look at some social mediaRead More