In the latest installment of the annual Power 300 issue of Auto Remarketing, we go behind the scenes with some of the leading companies in the used-car space and their top executives with a few Q&A features.  First up is George Chamoun, chief executive officer of ACV Auctions. Auto Remarketing: For wholesale buyers who aren’t 100% comfortable buying online, […] [Read More]

At the beginning of last year, loan origination system (LOS) provider defi SOLUTIONS announced it has raised $55 million in a Series C investment from Bain Capital Ventures. Then last September, Fiserv Lending Solutions announced the launch of its new brand identity as the joint venture between Fiserv and Warburg Pincus became Sagent Lending Technologies. […] [Read More]

Typically, the most risk in auto loan asset-backed securities (ABS) resides in the subprime space stemming from the lower credit tiers connected to that paper. Well, S&P Global Ratings is seeing risk grow within prime ABS, too. Because finance companies are addressing consumers’ shifting preference for larger, more expensive vehicles by extending contract terms up to […] [Read More]

At the highest level, Black Book’s Used Vehicle Retention Index remained steady in July compared to June, as analysts pegged the latest reading at 115. However, looking deeper into the data, Black Book uncovered some notable value movements, mentioning four vehicle segments in particular. Analysts noticed values of compact crossovers (up 0.82%) and sporty cars […] [Read More]

WebBuy introduced what it describes as the nation’s first fully integrated car-buying application to dealerships in 2014, and in the last year, WebBuy says it has seen significant growth in U.S. markets. Now, the company boasts a national network of participating dealerships. On Wednesday, WebBuy announced it has merged with Webgrain, which created the initial […] [Read More]

Continuing with new leadership team hires after announcing on Thursday that it hired auto industry veterans from AutoNation and CDK Global, vehicle subscription provider Fair announced on Monday that it has added to its leadership team with former executives from such companies as Google and TrueCar. The new leaders are former Google and Discovery Networks […] [Read More]

In creating its new digital storefront product, Dealer.com redesigned its vehicle detail pages to include features for consumers such as 360-degree vehicle images on inventory pages through a partnership with Homenet. Stating that it understands how dramatically the consumer’s car buying process has changed as technology disrupts the industry, Dealer.com — a digital marketing company […] [Read More]

FDIC chairman Jelena McWilliams reiterated three reasons why the regulator is looking to engage and collaborate with innovators in the financial and nonfinancial sectors to identify, develop and promote technology-driven solutions. During a speech to The Financial Conduct Authority’s 2019 Global AML and Financial Crime TechSprint last week in Washington, D.C., McWilliams revisited the premise of […] [Read More]

With potential buyers walking into the dealerships with smartphones and the ability to find information, DealerPeak’s Desk Max is looking to equip store personnel with a tablet-driven tool to generate vital data stemming from soft credit pulls, potential monthly payment details and more. DealerPeak recently enhanced its tool to users to log-in customers, add vehicles […] [Read More]

As finance companies know, critical data on tax liens and civil judgments is no longer included as part of the standard consumer credit report issued from all three major credit bureaus; a move that became effective last April. LexisNexis Risk Solutions recently released study findings that show how much more risk finance companies are absorbing […] [Read More]