3 Ways Lenders Can Utilize Alternative Data [VIDEO]

PLANO, Texas — Using alternative data solely for credit decisions “is a narrow view,” according to Daniel Parry, co-founder and chief executive of Praxis Finance. Lenders can also utilize alternative data to better manage other parts of the business, including in the collections process and to mitigate consumer fraud. Praxis has tested “virtually all of […]
  • Natalie Mattila
  • June 8, 2016
  • 0

3 Do’s and Don’ts to Tackle Compliance Exams [VIDEO]

It’s no secret that auto lenders are living in a more regulated space as a result of increased speculation from the Consumer Financial Protection Bureau, and when regulators come knocking it’s essential to be prepared. Rich Miller, head of compliance at Hyundai Capital America, shared some of his top do’s and don’ts to help lenders tackle compliance […]
  • Natalie Mattila
  • June 3, 2016
  • 0

Top 6 Financier Apps to Check Out

Mobile apps have penetrated virtually every industry there is, from food delivery services to online dating. Financial services, and auto finance in particular, are not an exception. The challenge: to design a banking app “cool” enough to reserve a spot in your customers’ smartphones. Here are six apps that would get a seat in my […]
  • Diana Asatryan
  • April 1, 2016
  • 0

3 Tips for Improving Mobile Apps

It’s old news to say that mobile apps are gaining traction in the financial services space. In fact, 45% of customers surveyed in the NetFinance 2016 Consumer study said that mobile apps were their preferred method of interaction with their banks. Auto lenders have recognized that trend, and have looked into leveraging their digital channels accordingly. The study, published […]
  • Diana Asatryan
  • February 15, 2016
  • 0

3 Tips on Collecting from Millennials

Getting in touch with overdue borrowers is tough. Getting in touch with millennial overdue borrowers is even tougher. “They don’t use landlines. They may change their address and not update the email,” said Michael Collins, senior vice president of lending and F&I solutions at Dealertrack, during the latest Used Car Week conference in Scottsdale, Ariz. “One […]
  • Diana Asatryan
  • January 29, 2016
  • 2

Five-Point Checklist for Your E-Transition

Driven by digitally-savvy consumers and dealer demand for faster processing times, auto lenders increasingly integrate electronic contracting into their loan origination systems. A growing number of lenders have already adopted e-contracting, such as Toyota Financial Services and Nissan Motor Acceptance Corp. The latest addition is Westlake Financial Services, an independent lender specializing in subprime auto […]
  • Diana Asatryan
  • October 14, 2015
  • 0

F&I Lessons From Luxury Captives

Customer service counts, no matter where you fall on the credit spectrum. However, it’s no secret that luxury customers expect first-class treatment when shopping for a car, and consumers expect that same treatment from captive finance company Mercedes-Benz Financial Services USA, according to Vice President Brian Fulton. “From a luxury customer standpoint, [consumer] expectations are […]
  • Larissa Padden
  • October 7, 2015
  • 0

Five Steps For Setting Up Your Information Security Program

The Consumer Financial Protection Bureau and the Federal Trade Commission will be knocking at the doors of powersports dealerships and finance providers, to make sure F&I operations comply with federal regulations, such as measures aimed at preventing identity theft, experts said. “We begin to see audits happen in powersports market extensively,” said Paul Sheldon, regional […]
  • Diana Asatryan
  • August 21, 2015
  • 0

The Building Blocks of Corporate Risk Management

While underwriting is known for the “three Cs” ― credit, capacity, and collateral ― corporate risk can best be boiled down to the “three Ps”: people, process, and programs. That was the message from Mark Humphrey, Tidalwave Finance Corp.’s chief credit officer, in a session at the Auto Finance Risk & Compliance Summit last month. […]
  • Marcie Belles
  • June 5, 2015
  • 0
Page 5 of 7« First...«34567 »
X