Industry Awaits Clarification on Military Lending Act

As Memorial Day approaches and the nation remembers those who have died in active service, lenders continue to grapple with how to finance ancillary products for active-duty servicemembers. Earlier this year, the Department of Defense issued a bulletin announcing that the Military Lending Act now applies to the financing of ancillary products, which requires originators to […]
  • Emma Sandler
  • May 16, 2018
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How Westlake Financial Reduced Operating Expenses 15% in One Year

Executives at Westlake Financial Services realized last year that the company’s operating costs were too high and that key performance indicators were “out of whack,” Ian Anderson, group president of Westlake Financial Services, told the Center for Auto Finance Excellence. That’s when the lender decided to create VisorBot, an automated employee-supervision system, and to make […]
  • Emma Sandler
  • May 9, 2018
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Why Lenders Should Consider Offering an Auto Lending App

This summer will mark the 10th anniversary of the debut of the app store which has grown to more than 2.2 million apps, which have come to occupy five hours of a consumer’s day. But, are lenders doing enough to capture that valuable screen time? Billions of smartphone owners use mobile apps daily. A consumer’s […]
  • Emma Sandler
  • May 2, 2018
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Randolph-Brooks Federal CU Details the Relationship Between Customer Service and Growth [PODCAST]

As credit unions continue to seize auto financing marketshare, knowing how they position themselves for success is key to understanding their growth. In this episode of The Roadmap, Sonya McDonald, Executive Vice President & Chief Lending Officer at Randolph-Brooks Federal Credit Union talks about the lenders’ strategy for growing direct lending by working with dealerships […]
  • Emma Sandler
  • April 30, 2018
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BMW Hopes Its Subscription Pilot Will Answer Some Questions

Earlier this month, BMW launched a subscription pilot in Nashville, Tenn., with the hopes of not only understanding the consumer appetite for subscription services from a luxury OEM, but also consumer behavior around such an offering. One question BMW is hoping the pilot will answer, according to Swati Licis, strategic projects manager at BMW Group […]
  • Emma Sandler
  • April 25, 2018
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7 Ways to Improve the Customer Payment Experience

The rapid increase in connected digital devices is changing the way people interact with the world and thereby making the customer payment experience ripe for innovation and disruption. The idea of paying by check, or wiring money, has become an outdated concept. Instead, you will find customers asking for more than ACH payments, but also […]
  • Emma Sandler
  • April 18, 2018
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What Hyundai and Startup Carma Learned About Car Subscriptions

Car subscriptions have been one of the hottest auto trends of 2018 so far. Less than 100 days into the year, BMW, Mercedes-Benz, Toyota Motor’s Lexus brand, and a host of startups have all launched services or said they intend to. The subscription trend began in January 2017 when Cadillac piloted Book by Cadillac in New […]
  • Emma Sandler
  • April 11, 2018
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How the Digital Age Could Shape Collection Strategy in the Coming Years

We live in the Age of Information. Humans produced 2.5 quintillion bytes of data per day in 2017, according to IBM, and it is often said that humans have generated 90% of the data in the world in the last three years alone. This data is generated through people’s purchasing behaviors, web searches, social media posts and […]
  • Emma Sandler
  • April 4, 2018
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What the FTC Says Should Be on the Auto Industry’s Radar [PODCAST]

With lingering uncertainty over what will become of the CFPB and unconfirmed appointees to the Federal Trade Commission, lenders’ compliance obligations are in flux. In this episode of The Roadmap, Dama Brown, Southwest regional director of the FTC, clears up confusion about collection practices and the Fair Debt Collection Practices Act, as well as valuable […]
  • Emma Sandler
  • March 29, 2018
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