Top questions lenders should ask fintech partners

The number of fintechs seeking lending partnerships is growing, and lenders are coming to terms with the risks and rewards of such alliances. Fintechs offer great opportunities, including reaching new customers, improving customer service, automating manual processes, reducing costs and improving service in the way consumers obtain financing. These opportunities also bring risks associated with […]
  • Robert Savoie
  • November 6, 2019
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How aftermarket products give subprime lenders an edge

Fueled by off-lease volume and consumer demand, used-vehicle sales are nearing record levels. For lenders focused on used vehicles — particularly lenders with subprime practices — these are opportune times. However, lenders need to differentiate their services to scale a profit. By leveraging cloud, auto-decisioning and paperless lending technologies, lenders gain a competitive edge with […]
  • Lana Johnson
  • October 24, 2019
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Ally Financial brings Monopoly to life to improve financial literacy

Ally Financial is once again promoting financial literacy among Americans and this time it includes an augmented reality experience and a life-sized Monopoly game. Ally + Monopoly, as the game is called, brings the iconic board game to life in six cities with an augmented reality experience and a chance to win up to $50,000 […]
  • Bianca Chan
  • October 22, 2019
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Capitalizing on today’s tech

Technology may provide the best competitive advantage to lenders in the current economic climate. With fintechs, lenders can accelerate the loan origination process — smoothing underwriting, improving decision quality and continually identifying opportunities for greater efficiency. When choosing modern technologies, lenders must assess the benefit of hosted or on-premise solutions and determine which works for […]
  • Lana Johnson
  • October 9, 2019
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Westlake doubles down on dealer strategy

Dealers have stopped telling Westlake Financial Services to increase sales rep visits thanks to a move pushing face time and call frequency. The common dealer refrain of “we’re not hearing from you enough” prompted Westlake to overhaul its dealer strategy. Those efforts have paid off, said Westlake Senior Vice President of Sales and Marketing Mark […]
  • Bianca Chan
  • September 16, 2019
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5 strategies to beef up cybersecurity

As financial institutions turn to digital infrastructure for scalability and data processing, the need for a robust cybersecurity framework is more vital than ever. However, defending against a pervasive and hidden threat can be challenging. “Too often we have a narrow definition of cybersecurity,” said Bill DeLong, Security National Automotive Acceptance Co.‘s senior vice president […]
  • Bianca Chan
  • August 20, 2019
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Ally boosts Instagram engagement 60% with interactive campaign

Ally Financial is jumpstarting its Instagram presence with a campaign designed to make discussing finances within relationships easier. Already, the lender has grown its Instagram followers 60% since the spring launch of Confessiongrams, as the campaign is called. Positive feedback and engagement prompted Ally to extend paid support on the campaign further, running until Thursday. […]
  • Bianca Chan
  • July 23, 2019
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Westlake Financial zeroes in on under-used tech

With autonomous vehicles, machine learning, and Tesla CEO Elon Musk attempting to merge people’s brains with AI (yes, that is a real thing), some lenders are still struggling to get dealers on board with basic tech tools. For Westlake Financial Services’s Mark Vazquez, senior vice president of marketing, the most under-utilized tool in auto finance […]
  • Bianca Chan
  • July 19, 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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