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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Social media do’s and don’ts in auto finance

Engaging with prospective and current consumers through social media channels is becoming a topic of increasing interest in the auto finance industry, but many questions remain when it comes to how — and in which channels — lenders should spend their time. Saloni Janveja, executive director of social media and marketing innovation at Ally Financial, […]
  • Joey Pizzolato
  • July 16, 2019
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TFS debuts lease waiver for military families

As Independence Day nears, both Toyota Financial Services and Lexus Financial Services are honoring the men and women in uniform and their families with a new program that waives remaining lease payments for Gold Star spouses and families. Gold Star spouses and families are relatives of service members who die or are “catastrophically injured” in […]
  • Joey Pizzolato
  • July 3, 2019
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Five questions with… Bank of America’s Duane Freeman

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. At Bank of America’s auto division, preserving a personal touch is key to engaging with both consumers and colleagues in a meaningful way, or so […]
  • Joey Pizzolato
  • July 2, 2019
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How different insurance options impact customer experience

When buyers sign the paperwork for a vehicle purchase, they probably breeze right past the part where they promise to maintain proper insurance. The vast majority have every intention of staying insured, and buyers simply scribble a signature and move on. Other than questioning an up-front insurance charge they weren’t expecting, they may not give […]
  • Mark Baltuska
  • July 1, 2019
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