The industry continues to strive toward making payments instantaneous. Open Payment Network (OPN) and North American Banking Co. (NABC) recently announced the capability to deliver instant payments to and from any financial institution on The Clearing House’s Real Time Payment (TCH-RTP) network through NABC’s ExcheQ application. By leveraging OPN’s certified interoperability with TCH-RTP, NABC can […] [Read More]

CarMax is trying to do more than just retail used vehicles nowadays. The company recently released its 2022 corporate responsibility report, which features expanded disclosures and updates on progress across several key initiatives including diversity and inclusion, community impact and its goal of achieving net zero greenhouse gas emissions by 2050. A few of the […] [Read More]

Autonomy keeps collecting relationships that meant to boost its place as an electric vehicle subscription company. On Thursday, Autonomy entered the insurance category, finalizing a connection with DigiSure — a software company that provides screening, insurance management and claims — as its insurance platform partner. Executives highlighted the platform partnership with DigiSure provides Autonomy with […] [Read More]

When Roger Penske, Rick Hendrick and the late Bruton Smith are mentioned, you might just quickly think of auto racing as fast as vehicle retailing. Holand Automotive Group president and chief executive officer Gad Bitton now is on a similar journey, announcing on Friday the acquisition of Circuit Mont-Tremblant, a 4.26-kilometer track in Montreal. Holand […] [Read More]

The first half of the year was a busy one for Auction Academy’s largest class in the 10-year history of the training program. Auction Academy officials recently highlighted Class Group 7 includes 30 students from 17 states, representing a variety of disciples within the automotive industry, including auction operations, floorplan and finance, technology and remarketing. […] [Read More]

What’s often been done in special finance departments at physical dealerships now is being leveraged by Carvana — at least in South Carolina. The online used-vehicle retailer said this week that to make its vehicle financing qualification process easier for South Carolina residents, those potential buyers now have the option to add a co-signer during […] [Read More]

Tricolor is in the running for a pair of prestigious honors. The tech-enabled Community Development Financial Institution (CDFI) and one of the nation’s largest used-vehicle retailers that caters to Hispanic consumers announced it has been named a finalist in two categories for the annual Finovate Awards: Excellence in Financial Inclusion and Best Consumer Lending Solution. […] [Read More]

Byrider is adding a new tool for the service drive at its 148 locations. This week, Byrider selected Shopmonkey — a cloud-based auto shop management platform as its newest technology partner. According to a news release, this relationship is part of a strategic innovation initiative that Byrider kicked off in the wake of the COVID-19 […] [Read More]

While bankruptcy filings soften again in July, experts caution that the trend could change later this year. According to data provided this week by Epiq Bankruptcy, bankruptcy filings totaled … [Read More]

While TransUnion spotted noticeable rises of consumer debt levels in many credit segments, experts also are seeing normalization of delinquencies. That’s the main theme of TransUnion’s Q2 2022 Quarterly Credit Industry Insights Report (CIIR) released on Thursday. “Consumers are facing … [Read More]