GrooveCar Direct, which offers credit unions their own, white-labeled vehicle shopping platform, recently announced seven new partnerships. The credit unions now using this technology are: —El Monte Community Credit Union, based in El Monte, Calif., with assets of $34 million and serving 2,730 members —Greater Cleveland Community Credit Union, based in Cleveland with assets of […] [Read More]

Investors not only are pushing resources into fintechs fueled by artificial intelligence. They’re now using AI more often to make their financial decisions with the expectation the usage will intensify. Those assertions and more surfaced on Monday when Invesco Advisers released findings of its eighth annual Invesco Global Systematic Investing Study, which is based on […] [Read More]

Dealerships, finance companies and other service providers connected to automotive had to begin compliance with the Safeguards Rule in June. On Friday, the Federal Trade Commission approved an amendment to it, instructing non-banking institutions to report certain data breaches and other security events to the agency. To recap, the FTC’s Safeguards Rule requires non-banking financial […] [Read More]

According to a news release and statement sent to SubPrime Auto Finance News, Relentless Recovery, one of the largest collateral recovery and remarketing companies servicing Ohio, entered into a settlement agreement with Digital Recognition Network (DRN), which is a subsidiary of Motorola Solutions. The agreement related to a non-compete contract between the companies. On Dec. […] [Read More]

The retail used-car market appears to be hitting a “leveling off period” when it comes to prices. In other words, shoppers shouldn’t expect much further relief. That’s according to the latest CARFAX Used Car Price Index, which said used-car asking prices on its platform are approaching a “floor.” While prices for pickup trucks and luxury […] [Read More]

Canadian Black Book has launched a new product that aims to make it easier for automotive professionals to drill down and benefit from retail market data. CBB said Pulse is a visualization tool whose capabilities can help dealers, fleet managers and others “power their business-critical decisions” about acquisitions and inventory. CBB said the tool can […] [Read More]

America’s Group has promoted America’s Auto Auction El Paso general manager Luke Pidgeon to regional vice president of the America’s Group Western region. “As we continue to grow, we are focused on strategically supporting our auctions,” senior regional vice president Brian Thomas said in a news release. “We are thrilled that Luke is taking on […] [Read More]

Jeremy Louisos isn’t just the senior vice president of Preowned Auto Logistics and an alumnus of Auto Remarketing’s 40 Under 40 program. As it turns out, he’s also a budding podcast star. Louisos, host of the PAL Podcast, will be among close to 20 podcasters recording shows on the podcast stage at Used Car Week, […] [Read More]

ActivEngage announced that its automotive messaging and consumer engagement solution now is securely integrated with CDK Global Elead CRM. The Elead delivery API is now available through the CDK Global Fortellis Marketplace. The integration is geared to give automotive dealerships the capability to seamlessly retrieve ActivEngage inbound chat and messaging data via secure data-protected API […] [Read More]

The world’s largest auto auction is getting some of the industry’s latest technology. Manheim Pennsylvania — which bills itself as “the world’s largest wholesale vehicle auction” — has added three fixed imaging tunnels, powered by Fyusion artificial intelligence technology, designed to provide the industry’s most consistent and complete view of each vehicle. Manheim became the […] [Read More]