FlexPath’s VeriQual product recently integrated with platforms that can enable the creation of generative AI personas to boost identity verification and credit prequalification. FlexPath explained generative AI personas differ from traditional artificial intelligence avatars by using sophisticated generative AI technology to create personas that can learn, adapt and evolve based on user interactions. FlexPath said […] [Read More]

When her phone rang at the end of an auction sale last month, Debbie Stokes was in no mood to answer it. “I’m like smack dab in the middle of doing everything,” she recalled. “I look at my phone and it’s showing a number I didn’t have saved. “I’m like, ‘I don’t know who this is. Do I answer or do I not?’ Well, if I don’t answer I’m just going to have to call it back anyway, so I might as well just get this over with.” That turned out to be the right call ... [Read More]

Consumer Portfolio Services on Monday announced the successful integration of Informed.IQ’s Dealer Verify tool into its origination process. The subprime auto finance company said this advanced solution driven by artificial intelligence can enhance the dealer experience by automatically verifying stipulations, improving capture rates and reducing contracts in transit. CPS said it has consistently focused on […] [Read More]

Last week, PayNearMe announced an expansion of its strategic collaboration with PayPal. The companies highlighted that the expanded integration with PayPal’s full stack processing capabilities for both payments and disbursements into the PayNearMe platform can help increase reliability and expand PayNearMe’s banking partnerships. PayPal helps strengthen PayNearMe’s core banking infrastructure and makes its Smart Switch […] [Read More]

Craig Amelung has officially become president of the National Auto Auction Association for the 2024-25 term, taking office when outgoing president Eric Autenrieth passed the gavel in a ceremony during the 2024 NAAA World Remarketing Convention in Orlando, Fla. During the convention’s all-member meeting, Tommy Rogers was elected vice president. Amelung is a 32-year auto […] [Read More]

Perhaps dealers are making headway when explaining the complex safety systems of new and late-model vehicles during delivery. But new research from J.D. Power and the Insurance Institute for Highway Safety (IIHS) showed that getting consumers completely comfortable with these features still has plenty of room for improvement. First, here’s the positive movements highlighted by […] [Read More]

Chuck Redden has become the latest industry leader to join the National Auto Auction Association Hall of Fame. The CEO of AutoTec and affiliate companies Auction Insurance Agency, AutoCheck Auctions, VIN CrossCheck, Centennial Casualty Company and AuctionACCESS was inducted during the 2024 NAAA World Remarketing Convention in Orlando, Fla. The Hall, established in 1968, recognizes […] [Read More]

Carvana has reached a major milestone. The online used car retailer announced Thursday it has sold more than 2 million cars and purchased more than 2 million cars from customers since it was founded in 2013. “Carvana’s mission has always been to change the way people buy and sell cars, and we are honored to […] [Read More]

It’s been nearly 50 years since the Federal Trade Commission rolled out the Trade Regulation Rule Concerning Preservation of Consumers’ Claims and Defenses, better known in compliance circles as the Holder Rule. While much has developed in almost five decades since, FTC attorney Carole Reynolds explained that components and consumer protections associated with the Holder […] [Read More]

The National Independent Automobile Dealers Association recapped several developments on Wednesday, including its new 20 group moderator and consultant for buy-here, pay-here dealers, fundraising to help members impacted by Hurricane Helene and the successes of its 2024 Policy Conference in Washington, D.C. The newest member of the NIADA staff set to join the association on […] [Read More]