Designing the Customer Experience: A Lesson in Data Analytics

Lenders might feel restricted by the recent rise in regulatory requirements, but instead, they should use the guidance to create a better customer experience. That was the message from Kevin Moss, chief risk officer for Wells Fargo & Co.’s consumer lending group, to debt collectors and risk managers at a recent industry conference. Moss pointed […]
  • Marcie Belles
  • November 8, 2013
  • 1

Proper Training, More Flexibility Critical for Millennial Employees

The times, they are a-changing. It’s just as true now as it’s always been, even if Bob Dylan is more difficult than ever to understand and the folks who first listened to his records are the ones being told to get out of the new road if they can’t lend a hand. In 2013, more […]
  • Marcie Belles
  • November 4, 2013
  • 1

How to Get the Right People on Your Team

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 true in the auto finance sector, […]
  • Marcie Belles
  • November 4, 2013
  • 1

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

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 assume when we use a word, […]
  • Marcie Belles
  • November 3, 2013
  • 0

A Look Into the Future of Payment Technology

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 customers advances, so do their expectations […]
  • Marcie Belles
  • November 3, 2013
  • 0

Six Strategies for a Solid Vendor-Management Program

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, offered these six strategies for developing […]
  • Marcie Belles
  • October 29, 2013
  • 1

Mobile Tech Gains Ground in Collection Space

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 for affordability and portability. Mobile payment […]
  • Marcie Belles
  • May 28, 2013
  • 1

‘Big Data’ Offers Potential for Finance Companies

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 Auto Finance, during a technology presentation […]
  • Marcie Belles
  • May 28, 2013
  • 0
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