Experian and CEB TowerGroup acknowledged how auto finance providers and other financial institutions are facing heavy business pressures to reach new demographics often riddled with thin credit files, while also improving the customer experience across all channels and processes.
GWC Warranty, a provider of used vehicle service contracts and related finance and insurance products sold through dealers, recently announced the addition of Andrew Roke as its new product manager.
Stephanie Alsbrooks, founder and chief executive officer of defi SOLUTIONS, has been selected as a Southwest region finalist for the EY Entrepreneur of the Year.
Leaders from defi SOLUTIONS and eOriginal are looking for the auto finance industry to take another significant evolutionary step.
Westlake Financial Services now possesses a significantly larger investment footprint, as on Thursday the company announced the acquisition of Credit Union Leasing of America (CULA), headquartered in San Diego.
As was widely anticipated, members of the Federal Open Market Committee at the Federal Reserve chose to raise the target range for the federal funds rate from 1 percent to 1.25 percent on Wednesday.
Coming off of a fiscal year where its net earnings dropped but still surpassed $5 million, Nicholas Financial this week announced the retirement of Ralph Finkenbrink as the subprime auto finance company’s president and chief executive officer for personal reasons.
Change seems to be always in the air in the auto finance space. Finance companies are adjusting underwriting to mitigate risk, maintain origination growth and watch for delinquency rises.
This week, RouteOne highlighted that its eContracting platform reached a new milestone with 7.5 million booked eContracts. The threshold resulted in more than $200 billion in funded deals.
RouteOne indicated the growth can be attributed to the rising adoption by:
EFG Companies recognized independent stores that turn about 50 vehicles monthly need the same F&I resources as franchised stores that watch two, three or four times that many units roll over the curb each month.