Startup lender reveals strategy to disrupt auto finance

How do you measure risk for consumers without long credit histories in the U.S.? That’s the question Amitay Kalmar confronted when he founded Boston-based Lendbuzz in 2016. Three years later, Lendbuzz is carving out a share of potential auto loan customers by leveraging machine learning and data analytics. The startup lender targets foreign-born residents, such […]
  • Bianca Chan
  • August 19, 2019
  • 0

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
  • 0

Building and retaining customer loyalty in the digital age

Technology is playing a more prominent role in auto financing as car buyers increasingly look for lenders to provide digital options for communication and payment. Today, customers expect content to relate to what they’re doing anytime, anywhere and on any device. To that end, captive financier Nissan Motor Acceptance Corp. is meeting customer expectations with […]
  • Nicole Casperson
  • June 27, 2019
  • 0

Sharpening Decisions With Alternative Data [Podcast]

Auto lenders are increasingly relying on nontraditional data as they hone underwriting to gain a competitive edge. Alternative data can open the door to unbanked and under-banked consumers, enabling lenders to extend beyond their typical customer base without assuming too much risk. “[Lenders] have to broaden their mind to incorporate alternative data,” Chuck Berend, senior […]
  • Nicole Casperson
  • May 30, 2019
  • 0

Information Security Questions Every Lender Should Answer [Podcast]

Stiffer regulatory oversight of information protection practices has spurred lenders to reevaluate the way they collect and use personally identifiable consumer data. For lenders to keep up with changing data security compliance requirements, senior executives should start with creating a culture of awareness. “Maturing [information security] programs come down to leadership,” Hyundai Capital America’s VP of […]
  • Nicole Casperson
  • May 6, 2019
  • 0

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
  • 0

How Lenders Can Take Advantage of Mobility as a Service  

The carshare and rideshare markets are gaining traction, and financiers must adapt their strategies or risk getting left behind. “The challenge for lenders today is that they aren’t managing the loan properly because they don’t know they are financing vehicles for the rideshare and carshare consumer,” Brian Allan, senior director of strategic partnerships at HyreCar, told Auto Finance […]
  • Nicole Casperson
  • February 28, 2019
  • 0

CU Direct Offers Tips for Origination Growth Despite Looming Economic Downturn

Though credit unions have thrived in the current auto finance market, CU Direct is warning the 1,100 lenders on its platform to remain cautious as near-term macroeconomic factors — like rising interest rates and a potential downturn — are likely to spark additional risk factors. “[Lenders] need to increase their rates along with the [Federal […]
  • Nicole Casperson
  • December 3, 2018
  • 0

Ramping Up Operations With an Eye Toward Acquisition

If there is one lesson Westlake Financial Services has learned since it started purchasing portfolios back in 2011, it’s to prepare for hiccups along the way. Through the launch of portfolio acquisition and management divisions, the lender has discovered several essential practices that businesses should incorporate for successful acquisitions and overall growth. Westlake leverages its third-party […]
  • Nicole Casperson
  • August 29, 2018
  • 0
Page 1 of 3123 »
X