LAS VEGAS — Three companies were recognized for achievement in the auto finance sector during the Auto Finance Excellence Awards ceremony presented Thursday at the 2018 Auto Finance Summit.
The annual celebration honors achievement by companies in the automotive lending and leasing industry.
Hyundai Capital America was presented an Excellence Award for its dramatic transformation of the company’s capital structure and liquidity profile to position the business for market force disruptions of autonomous driving, electrification, fintech, ride-hailing, and emerging vehicle distribution models.
BMW Financial Services and Bank of America were both honored for strides in innovation. Specifically, BMWFS was honored for its collaboration lab initiatives, which allow startups to develop ideas and utilize the captive’s resources.
Bank of America was recognized for the launch of its direct-to-consumer mobile car shopping service alongside DealerTrack, its involvement serving as finance provider for Volvo’s subscription product, and the development of Erica, a virtual assistant that can help with a range of financial products, including auto loans.
Presented annually since 2005, the Auto Finance Excellence Awards are unique in that they are the only recognition of achievement within the auto financing industry. Recipients are chosen from nominations by members of the industry and the senior editorial team at Auto Finance News.