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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Digital Tools Help Lenders Book Loans Lost in Paper Deals

The key to closing the gap and establishing trust between dealers and lenders is technology, said Theodore Papailion, director of value engineering at eOriginal, during a webinar called “How to Enhance Vehicle Finance Processes and Operations” hosted by eOriginal. The paper process during a transaction is a challenge lenders face in the space, because up […]
  • Huixin Deng
  • July 5, 2017
  • 0

Driverless Cars Put Insurers on a Complex New Road

In August, Ford Motor Co. announced plans to produce fully autonomous cars by 2021. These vehicles will be manufactured in high-volume production and will be tailored for ride-hailing and ride-sharing operations, which means they will not have steering wheels, brake pedals, or other controls for human occupants. “This is a new world for insurers,” said […]
  • Quadrant Information Services
  • September 28, 2016
  • 0

Lenders Seek Balance When Investing in Innovation

It’s no secret that being first to market when investing in innovation can offer a competitive edge, but lenders must be prepared for the complications that come with investing in unproven technology. However, those that don’t lead the charge, risk being too late to the punch — so where is the balance? The real risk […]
  • Natalie Mattila
  • July 27, 2016
  • 0

Innovation & Company Culture – More Than Just Talk

There is a lot of buzz around the word innovation, and why it is important to a business and its company culture. I recently came across an article written by Andre Durand titled, “4 Tips to Foster a Company Culture of Innovation,” and whereas I agree with all of his insightful tips, I sat back and […]
  • Datascan
  • July 11, 2016
  • 0

Innovation Calls for ‘Thinkers, Not Followers,’ Exeter CEO Says

IRVING, Texas — It’s important to understand that innovation is not simply about bringing in “fresh faces,” Jason Grubb, chief executive of Exeter Finance Corp., said in an interview earlier this month. Without being immersed in the long-term undercurrents of the industry, any “new voice” is more likely to repeat old mistakes, rather than create a truly […]
  • Brad Bergan
  • June 15, 2016
  • 2

4 Spot-On Resolutions for Auto Finance Execs in 2016

Did you make New Year’s resolutions yet? Here’s our input, AFN’s list of four spot-on resolutions that auto finance executives should take note of in 2016.   1. Keep Up with Interest Rates The Federal Reserve’s 0.25% rate hike in December will not immediately affect the auto finance industry, analysts say. That said, lenders should expect more […]
  • Diana Asatryan
  • January 5, 2016
  • 0

“Think Like a Startup,” Carvana Founder Says

Large auto lenders need to maintain a start-up mindset in order to remain customer-centric, Ernie Garcia, founder and chief executive of online used-car marketplace Carvana, told Auto Finance News. “Oftentimes, there are processes that get cemented in this industry, and oftentimes it’s because they [lenders] have been doing a very good job utilizing those processes,” he said. “It’s […]
  • Diana Asatryan
  • November 9, 2015
  • 1

10 Executives on Innovation’s Vanguard

By Larissa Padden lpadden@royalmedia.com      Diana Asatryan dasatryan@royalmedia.com Innovation matters. The people of innovation matter most. Buzzwords like “enterprise mobility,” “alternative data,” and “increased competition” are so common in the evolving landscape of the auto finance industry, they could lose their meaning. Then there’s the Auto Finance News list of 10 Executives to Watch. […]
  • Diana Asatryan
  • September 30, 2015
  • 1
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