Truist Financial Corp. is officially ready for business, according to an announcement made on Monday morning. Executives said the completion of the merger involving BB&T Corp. and SunTrust Banks became effective on Friday. They pointed out Truist now is the sixth-largest U.S. commercial bank, serving approximately 10 million consumer households and a full range of business […] [Read More]

iA Financial Corp., one of Canada’s largest insurance and wealth management companies, secured a larger amount of the dealer warranty business in the United States last week. According to a news release, iA Financial, the holding company of iA Financial Group, announced today that it has entered an agreement to acquire the American company IAS […] [Read More]

Since Zubie introduced Zubie Rental Connect early this year, the company has built a partner network that includes software companies TSD, Collateral Consultants and Karz. On Friday, connected-car platform Zubie announced a new integration that it says will give rental fleet and loaner car operators “seamless access to connected car insights and the ability to improve […] [Read More]

Michael Reth says the automotive and insurance industries are facing “unprecedented change” that requires tangible consumer engagement “as they navigate their own digital transformation roadmap.” “In automotive and vehicle-focused industries, customers are requiring a digital experience in every step of the automotive buying, and ownership lifecycle,” said Reth, who is founder and chief executive officer […] [Read More]

Carvana is building a $25 million vehicle inspection and reconditioning facility near Richmond, Va., the Virginia governor’s office announced Thursday. This is the second inspection and recon facility announced in the last four months involving Carvana, which recently began a similar project near Charlotte, N.C. It is estimated the Richmond-area recon facility will generate 400 […] [Read More]

Now that it is part of the Mitsubishi MiDigitalSolutions Website, Digital Advertising, Chat, Trade-In Tool, and Social Reputation Management programs, Dealer eProcess says Mitsubishi dealers can now choose from Mitsubishi website designs that are fully responsive. The designs are also ADA compliant and feature SSL security, according to Dealer eProcess, an automotive website and digital […] [Read More]

Bruce Thompson is an “idea guy.” And it was one idea about inventory management in the late 1990s that helped spur what would become two decades of dealership software innovations from the Texas entrepreneur and his team. After getting into automotive on the wholesale side of the industry, Thompson eventually became a consultant for car dealers. […] [Read More]

On Friday, Cox Automotive released the latest reading of the Manheim Used Vehicle Value Index, and analysts emphasized one point after finalizing their wholesale market data. “Last year remains a tough comparison for prices as we came off a record in the Manheim Index because of abnormally strong consumer demand in the fall related to […] [Read More]

If auto-finance companies were not already using alternative data to enhance their underwriting efforts, they appear to have gotten the green light this week from five prominent federal regulators. Those five agencies — the Federal Reserve, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency […] [Read More]

The Canadian subsidiary of Enterprise Holdings will be purchasing Discount Car and Truck Rentals Ltd., a Canadian car and truck rental company. The agreement between Enterprise Holdings and Discount Car and Truck Rentals was announced Thursday, and the deal would include all of Discount’s corporately owned locations and the Quebec licensee’s daily rental businesses. Discount […] [Read More]