Prioritizing tech to boost momentum

Technology advances have always moved quickly, but now they are accelerating so rapidly that it seems nearly impossible for even well informed, strategically sophisticated companies to keep up. The financial services sector is coping with an especially dizzying pace of change. The process of choosing where to invest your technology budget involves a systematic and […]
  • David Crawford
  • November 4, 2019
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Member-focused strategy drives PenFed’s product innovation

Ivan McBride is competitive, and it’s easy to understand why. He played professional baseball for the Cleveland Indians before starting his career in the auto industry 25 years ago. Nowadays, though, McBride has tempered that ambition with a healthy dose of patience, learning to “stay focused on what you do well and not get distracted,” […]
  • Bianca Chan
  • October 28, 2019
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High-tech to high-touch: How AI empowers lenders to humanize customer experiences

From filtering email spam to analyzing checks for mobile deposit, artificial intelligence is becoming ingrained into daily life in ways both seen and unseen. For financial institutions, the arrival of AI-driven tools has raised the bar for the customer experience. Digital tools are replacing traditionally human touchpoints with a faster, more satisfying experience — and […]
  • David Crawford
  • October 23, 2019
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Top elements of a successful customer experience strategy

With an increasing number of consumers as comfortable buying cars online as they are ordering groceries or booking travel, lenders must design an auto finance process that centers on customer experience. That’s the upshot from the latest webinar hosted by Auto Finance Excellence. Tune in to the complete recording of the webinar here. In this Auto Finance Excellence […]
  • Nicole Casperson
  • September 30, 2019
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Golden Eagle launches GAP coverage for ‘life events’

Golden Eagle Insurance launched a new product last week designed to aid lenders and customers during unexpected life events. The negative-equity protection program is described as GAP insurance for life events, allowing customers to walk away from their auto loans or skip payments in the case of unexpected life events, including involuntary unemployment, physical injury […]
  • Bianca Chan
  • September 17, 2019
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Global Lending Services bets long-term success on direct business

Global Lending Services is in the midst of establishing a direct lending business, a move Chief Executive Steve Thibodeau calls “the next gear of [the company’s] growth engine.” While the Atlanta-based auto lender is keeping short-term aspirations in check — Thibodeau said he does not see the direct business as a significant driver of volume […]
  • Bianca Chan
  • August 28, 2019
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How to leverage data and analytics to enhance the customer journey

It’s no exaggeration that the data revolution has transformed just about every industry. How data can be analyzed and used to improve business outcomes is virtually limitless. Properly harnessed, data can help find and rate new opportunities, streamline workflows, identify and reduce risk, predict future trends, and enhance employee engagement. Another big opportunity is improving […]
  • Mark Baltuska
  • August 7, 2019
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US Bank targets partners for mobile enhancements

U.S. Bank is exploring potential partnerships to boost the bank’s mobile capabilities as it looks to bring in more customers and enhance the value it provides to dealers, John Hyatt, president of dealer services, told Auto Finance Excellence. “We will continue to see advancements in technology that will allow more of our transactions to be […]
  • Bianca Chan and Joey Pizzolato
  • July 26, 2019
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An inside look at 2 new credit scoring models

Ever since the concept of loaning money was conceived, lenders have been trying to find the ideal way to predict who will pay them back and who will default. Over time, methods for evaluating the likelihood of borrower repayment progressed from individual human judgment calls to more objective credit bureaus and reports. In the 1950s, […]
  • Mark Baltuska
  • July 18, 2019
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