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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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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Chase Exec Outlines the Intersection Between Women, Marketing, and Auto Finance [Podcast]

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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Navy Federal to Strengthen Mobile App as Consumer Preference Evolves

Navy Federal Credit Union is looking to bolster its digital presence as members increasingly turn to online channels to finalize the vehicle finance process, company Consumer Lending Product Strategist Jennifer Felts told Auto Finance Excellence. In the first quarter of 2019, more auto loan applications came in via the credit union’s digital channels than its […]
  • Bianca Chan
  • April 19, 2019
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Navy Federal Reinforces Customer Service with Tech

The intersection of customer service and technology is top of mind for Navy Federal Credit Union this year, with enhancements to electronic signatures, mobile applications, and digital portals, said Vice President of Consumer Lending Joseph Pendergast. With 18,000 employees worldwide and more than 8 million members within all branches of the armed forces — including […]
  • Bianca Chan
  • April 17, 2019
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The Unexpected Effects of a Shrinking Sedan Inventory

The butterfly effect is the idea that what seems like a small change in a system can lead to larger or even totally unexpected results. Today, the auto industry is experiencing an imbalance in inventory as a result of OEMs pulling back production on sedans to build more trucks and SUVs. How might the butterfly […]
  • Lynn Hess
  • April 15, 2019
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Customer Service Hinges on Personal Connections, Chase Exec Says

WASHINGTON, D.C. — Personal connections and leading with purpose are the cornerstones to helping “customers make the most of their money, so they can make the most of their lives,” Thasunda Brown Duckett, chief executive of consumer banking at JPMorgan Chase, said at CBA Live last week. Duckett, who previously served as chief executive of […]
  • Joey Pizzolato
  • April 12, 2019
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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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