Tricolor Uses Innovation, Technology to Drive Customer Experience 

At Tricolor Auto Acceptance, technology drives the goal of delivering seamless, sustainable financial products across dealerships and digital channels, President and Chief Operating Officer Don Goin told Auto Finance Excellence. “Our business strategy is hyper-focused on the customer experience relative to financial inclusion,” Goin said. “Part of this strategy is the prioritization of product development […]
  • Joey Pizzolato
  • May 17, 2019
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Mobility Matters in the Auto Lending Process

The volume and variety of innovative commerce transactions available on mobile devices continues to grow. Younger generations — millennials and Generation Z — live with mobile devices. The gradual adoption of 5G networks will substantially enhance the speed and functionality of all things mobile — along with higher expectations from millions of users. To remain […]
  • Lana Johnson
  • May 16, 2019
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How Lenders Can Reduce Friction in the Auto Sales and Finance Journey

No matter what the industry, product, or service, consumers take a “sales journey” along the path to purchase. From the first step to the last, a customer’s sales journey is the total picture of every experience a customer has with a company or brand. Each touchpoint or individual interaction between the customer and the company, […]
  • Lynn Hess
  • May 13, 2019
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Collectors, Consumer Advocates Face Off on Debt Collection Rules at Town Hall Meeting

PHILADELPHIA — Subject matter experts representing debt collection agencies and consumer advocacy groups had split reactions on changes to the Fair Debt Collection Practices Act proposed by the Consumer Financial Protection Bureau on May 7. “Back [in 1977], phone booths were on almost every corner, and the ubiquity of cell phones was not even imaginable,” CFPB Director […]
  • Joey Pizzolato
  • May 9, 2019
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Information Security Questions Every Lender Should Answer [Podcast]

Stiffer regulatory oversight of information protection practices has spurred lenders to reevaluate the way they collect and use personally identifiable consumer data. For lenders to keep up with changing data security compliance requirements, senior executives should start with creating a culture of awareness. “Maturing [information security] programs come down to leadership,” Hyundai Capital America’s VP of […]
  • Nicole Casperson
  • May 6, 2019
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Consumer Advocates Call on Regulators to Clamp Down on Discriminatory Auto Lending

Consumer advocates proposed prohibiting dealer markups and increasing federal oversight to combat alleged discriminatory indirect lending practices, in a U.S. House Committee on Financial Services hearing Wednesday. “Many of the disparities we will discuss here today are only possible because the market for cars — especially car finance for used cars — is opaque and inconsistent,” said witness […]
  • Bianca Chan
  • May 2, 2019
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Five Questions With… Craig Harter of BMO Harris Bank

Five Questions With is a monthly Q&A segment on AutoFinanceExcellence.org that offers a glimpse of what senior industry executives are thinking about outside the boardroom. Read on to find out. BMO Harris Bank‘s head of U.S. indirect lending Craig Harter takes the lessons learned from his 25-year auto finance tenure and his upbringing to keep him […]
  • Bianca Chan
  • April 30, 2019
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Bureau Adopts AFSA Suggestions to Improve Vague Investigative Process

This week, the Consumer Financial Protection Bureau (CFPB) announced changes to its policy regarding Civil Investigation Demands (CIDs). The changes are intended to provide more information to the subject of the CID.AFSA has long advocated that the Bureau’s CIDs be more specific. Last April, in response to one of the Bureau’s several requests for information, […]
  • American Financial Services Association
  • April 26, 2019
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Chase Exec Outlines the Intersection Between Women, Marketing, and Auto Finance

Successful marketing hinges on knowing what consumers want — and part of that is knowing who your customers are. Women consumers are responsible for 65% of new-vehicle purchases and service work done at dealerships, Chase Auto Chief Marketing Officer Melinda Welsh noted in a recent blog post. As the number of females at the consumer […]
  • Bianca Chan
  • April 24, 2019
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