Ally Exec Outlines How Lenders Can Navigate the Challenges of Unintentional Bias

Though regulators have relaxed discriminatory lending rules, auto lenders are stepping up diversity education. Ally Financial, for one, is bolstering training efforts to reduce unintentional snap judgments based on race, gender, or appearance – a concept referred to as “unconscious bias.” There are certain tactics lenders can put in place to avoid unintentional biases that can impact […]
  • Nicole Casperson
  • September 19, 2018
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3 Strategies to Improved Dealer Communication

Dealers serve as the sounding board to what plans, tactics, and strategies OEMs and captives implement, John Thacker, national director of sales for Kia Motors Finance, told Auto Finance Excellence. “If [Kia] has a new plan or program and we want to pilot it, we run it by our dealer council because their feedback is […]
  • Nicole Casperson
  • September 12, 2018
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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
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3 Reasons Lenders Should Promote Refis

As lenders pull back from the subprime space competition for prime credit is getting ultra-competitive, and lenders are going to have to think creatively to attract customers, said Brian Landau, senior vice president and automotive business leader at TransUnion. “There’s more competition now and less demand,” Landau said. “It causes some challenges for the incumbents […]
  • William Hoffman
  • August 24, 2018
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Former Tesla Exec Maps Strategies for New Venture With Startup Fair

Shared services are gaining momentum, as the opportunity for mobility outweighs consumers’ desire for ownership, Diarmuid O’Connell, chief strategy officer for subscription service Fair, told Auto Finance News. Formerly vice president of business development for Tesla Inc., O’Connell was one of the company’s longest-serving executives before his departure in October 2017. He was instrumental in […]
  • Nicole Casperson
  • August 20, 2018
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Best Practices in Loan Servicing Detailed by Ally, Hyundai Capital, First Associates

The administrative aspects of servicing the life cycle of a loan from origination until pay off has become an industry in and of itself. Banks, captives, and primary loan servicers, all must pay special attention to how they are collecting principal and interest on the loan well after the borrower leaves the dealership. It is also […]
  • Nicole Casperson
  • August 15, 2018
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MOBI’s CEO Shares How to Make Blockchain a Reality

Manufacturers and their captive finance companies are facing disruptive technology trends that are impossible to ignore — and the emergence of blockchain is one. But, to make blockchain a reality, companies need to stop racing towards innovation and start with a community. “Maybe it isn’t so much about the tech, it’s really about the ecosystem,” […]
  • Nicole Casperson
  • August 8, 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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