How Staying Compliant Improves Customer Experience

There are many good reasons for a financial institution to comply with current lending regulations. Nobody wants to pay hundreds of thousands of dollars in fines or earn a reputation as someone who takes advantage of consumers. Not least of all, good lenders feel an ethical obligation to follow the law and treat customers fairly, […]
  • Lynn Hess
  • March 18, 2019
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How Personalization Leads to a Better Borrower Experience

Welcome to the personalization revolution. Generic campaigns and mass-market offers are approaching obsolescence as marketers in all industries, including financial services, find that highly targeted and customized content based on sophisticated data analytics and tailored to a prospect’s demographics, preferences, and past behavior are the keys to success. Now, 85% of customers expect personalized content […]
  • Lynn Hess
  • February 27, 2019
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Auto Lenders Must Channel Their Inner Warby Parker

The growing popularity of direct-to-consumer business models like Warby Parker increasingly has implications for the auto finance industry. While the logistics of affording and purchasing a pair of eyeglasses is admittedly much easier than an automobile, the customer experience is highly relevant. This is especially true for subprime auto lenders where consumers are focused on […]
  • Daniel Chu
  • February 20, 2019
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State National Companies Signs On as Customer Experience Partner for Auto Finance Excellence

Auto Finance Excellence, a sister service of Auto Finance News, is proud to announce State National Companies as the official Customer Experience sponsor. State National, a division of Markel Corp., has been in business for more than 45 years and is a specialty provider of collateral protection insurance. In its lender services segment, the company […]
  • Nicole Casperson
  • February 15, 2019
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CPS Eyes Dealer-Based Tech to Bolster Origination Volume, Customer Experience

Subprime lender Consumer Portfolio Services Inc. is allocating funds toward its dealership portal and artificial intelligence as it looks to boost origination volume without sacrificing credit quality, Senior Vice President of Originations Teri Robinson told Auto Finance News. “We don’t compete as aggressively, we focus a lot on customer service and try to be the […]
  • Nicole Casperson
  • February 11, 2019
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How to Connect With Car Buyers of All Ages

From the January issue:  Aligning customer experience initiatives with the proper demographic is essential for lenders, and there are ways to communicate with borrowers and prospects more effectively. Recent research provides rich insights into the benefits of aligning financial marketing messages with generational attributes to achieve higher conversion and engagement. University of Arizona’s 2018 Filene Research […]
  • Lynn Hess
  • January 22, 2019
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Ally Financial Donates $50,000 to Its Dealership Communities

Yearend serves as a time for giving back, and one lender is doing its part. Ally Financial said it is donating about $50,000 to help dealership employees and communities affected by hurricanes, fires, floods and other hardships. “For those dealers who have weathered particularly challenging circumstances, some extra support can boost the wellbeing of their […]
  • Nicole Casperson
  • December 14, 2018
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California Expands Auto Loan Protections for Servicemembers

On September 19, California governor Jerry Brown signed AB 3212 which provides benefits and protections to servicemembers under the state’s Military and Veterans Code. It is the state’s version of the federal Servicemembers Civil Relief Act (SCRA), 50 U.S.C. § 3952. AB 3212 extends the length of time that servicemembers in California are protected against […]
  • Chad Fuller
  • December 12, 2018
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