Vervent confirmed via a news release on Monday that it has been authorized to step in as a successor servicer in response to the Chapter 7 bankruptcy filing by Tricolor Holdings. Previously designated as backup servicer, Vervent said it has been given authority to assume servicing for the majority of Tricolor’s approximate 100,000 subprime auto […] [Read More]

Hugh Swandel, president of Meridian OneCap Credit Corp., has been named the new chair of the Canadian Finance and Leasing Association. The association introduced its new leader during its 2025 annual conference, held last week in Swandel’s hometown of Winnipeg. In his new position, which has a two-year term, Swandel will head the CFLA’s board […] [Read More]

As car prices rise, so do trips to the repair shop. That correlation was illustrated neatly by J.D Power’s latest research, which showed dealership service department visits at their highest level in four years. The J.D. Power 2025 Canada Customer Service Index — Long-Term Study found the average number of dealership service visits for 4-to-12-year-old […] [Read More]

In November, many Canadians flock to their dealership service departments to have snow tires put on their vehicles. While that might seem like a windfall, a new report from Reynolds and Reynolds shows that’s not exactly the case. The annual report, titled The Fixed Operations Golden Metrics 2025, focuses on metrics that drive fixed ops […] [Read More]

Steady prices and stable volume. That’s the crux of information from the first 15 days of September included in the mid-month Manheim Used Vehicle Value Index, which technically increased from 207.4 in August to 207.5 at this month’s midpoint. While the month-over-month change in wholesale used-vehicle prices (on a mix-, mileage-, and seasonally adjusted basis) […] [Read More]

Dealer Alchemist has conjured up a new partnership with an OEM. The automotive digital marketing company announced it has been certified as a website, digital advertising and search engine optimization partner for Mitsubishi Digital Solutions, Mitsubishi Motors North America’s managed services program, allowing U.S. Mitsubishi dealers to access Dealer Alchemist products directly through the MiDS […] [Read More]

Dealership technology provider Kenect has introduced Voice AI, an artificial intelligence system designed to improve service department operations and customer interactions. Voice AI serves as a virtual receptionist, available 24/7 to handle inbound calls, answer routine questions, schedule service appointments and route inquiries to the appropriate department. The company said automating those tasks allows dealerships […] [Read More]

RouteOne announced the availability of Automated Document Classification, which is an enhancement within the Digital Deal. The company highlighted this feature enriches eContracting data quality and supports a broader objective: delivering a contract package that is complete, accurate, and funding-ready upon receipt. Automated Document Classification uses machine learning and optical character recognition (OCR) to identify […] [Read More]

In a move that took effect on Friday, Comerica Bank promoted Kristina Janssens from executive vice president and chief compliance officer to senior executive vice president and chief risk officer. As chief risk officer, Janssens will report directly to Comerica chairman, president and chief executive officer Curt Farmer, as well as to the enterprise risk […] [Read More]

When October begins next week, clients who use defi SOLUTIONS should be able to use some new capabilities offered by Informed.IQ courtesy of a recent integration. According to a news release, lenders will be able to seamlessly integrate Informed.IQ’s vertical AI agents to verify applicant data, documents, and stipulations to accelerate their approval process and […] [Read More]