Participation Points: Why Servicers Should Encourage Borrower Engagement

Customer engagement is a hot topic, with many companies now adding “customer experience” directors and other such roles to their ranks. But what does it mean to “engage” a borrower? In basic terms, engagement describes participation. But, for loan servicers, that means interacting with the borrower on their terms. With the right tools and resources, […]
  • Fiserv Intelligence
  • September 14, 2018
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Has Auto Loan Fraud Replaced Car Theft in America?

How Artificial Intelligence and Fraud Strategies Can Stem the Rising Tide of Fraud When it comes to auto theft, our cars are safer and more protected than ever. Investments by manufacturers to deter theft with engine immobilizers, LoJack, keyless entry, and other advancements have worked. In fact, the cars most commonly stolen today are older models […]
  • Frank McKenna
  • August 17, 2018
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Auto Finance Excellence Relaunches as a New Community for Industry Professionals

Auto Finance Excellence today relaunched as a comprehensive online community and industry resource for best practices and advice for auto lending and leasing professionals. At the new Auto Finance Excellence (www.autofinanceexcellence.org), formerly known as the Center for Auto Finance Excellence industry executives will find insights, ideas, and innovation on the practice of auto finance. The […]
  • Nicole Casperson
  • August 6, 2018
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Mitsubishi’s Involvement in Alliance Drives Profitability for OEMs, Lenders

Mitsubishi Motors North America is in a “strong” position to deliver improved profitability, more appealing products, and advanced technologies, thanks to its participation in the Renault Nissan Mitsubishi alliance, newly appointed Chief Operating Officer Mark Chaffin told Auto Finance News. Last month, the alliance reported a 14% increase in annualized “synergies” — the result of […]
  • Nicole Casperson
  • August 3, 2018
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Auto-Lease Swapping: What It Is, Why It’s Growing, and Why It Matters for Lenders

If your business portfolio includes automotive leases, chances are you have already come across a few customers (or perhaps several thousand!) who are interested in getting out of their contract early. Maybe they’ve lost their job; maybe their yearly mileage is higher than they anticipated; perhaps they no longer need a vehicle, or maybe the […]
  • Brandy Bissett
  • July 13, 2018
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4 Ways to Ensure Employee Compliance on Ancillary Products  

Ancillary products are stirring a lot of industry talk, specifically, how they are sold at the dealerships and whether they provide a true benefit to the consumer, Rob Tennant, recently appointed chief legal officer at Veros Credit, told Auto Finance Excellence. From extended service contracts to guaranteed asset protections, ancillary products can serve as a […]
  • Nicole Casperson
  • July 9, 2018
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3 Tips For Upgrading a Lender’s Customer Experience Tech

  Financing is at the forefront of today’s digital society, and there is a high expectation for lenders to adapt in a “self-serve capacity,” Steve Taplin, global digital lead of Alfa Systems, told Auto Finance Excellence. There are five main aspects that drive the traditional business model towards digitalization: competition, cost efficiency, customer behavior and […]
  • Nicole Casperson
  • June 29, 2018
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Nicholas Financial Gears Up for Return to ‘Disciplined’ Subprime Underwriting

Amid a 41% year-over-year decline in originations during the fourth quarter of 2017, Nicholas Financial hopes to get “back to the basics” and reestablish its presence in the deep-subprime market, new Chief Executive Doug Marohn told Auto Finance News. “Nicholas is a lot of things, and Nicholas has enjoyed a very specific reputation for decades, […]
  • Natalie Mattila
  • March 26, 2018
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3 Tips for Complaint Management

Complaining is an age-old habit of customers, but too many complaints about lending can lead to oversight from regulators. As such, there are some key ways to mitigate customer complaints — such as introducing some dedicated internal policies that show tangible examples of what a lender is doing to address complaints, for instance. To address […]
  • Emma Sandler
  • December 5, 2017
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