Private investment firm J.C. Flowers & Co. announced on Tuesday that it has signed a definitive agreement to make a majority investment in iLendingDIRECT, a leading auto refinance marketing company. While terms of the transaction were not disclosed, J.C. Flowers said in a news release that the agreement is expected to close during the first […] [Read More]

The two primary segments of Dealertrack’s tools for dealerships and finance companies — F&I solutions and DMS — are each being upgraded to adapt to consumers’ accelerated shift toward digital purchasing as well as achieve higher efficiency and productivity in today’s digital-first environment. Beginning with Dealertrack F&I, the company announced new digital workflow and contracting […] [Read More]

Point Predictive recently landed another working relationship with a commercial bank that is looking to weed out fraud from its operations and portfolio. The Emerging 8 honoree that provides machine learning solutions to the lending industry, announced that M&T Bank has adopted the company’s Outsourced Fraud Mitigation (OFM) service “to maintain the upper hand” in […] [Read More]

This week, 700Credit finalized another integration partnership to make available its credit reports as well as compliance and soft-pull solutions. The latest relationship is with DriveCentric, a robust CRM, artificial intelligence (AI) and conversational engagement platform for automotive retailers. Officials from 700Credit said this new integration can provide dealerships with seamless access to its credit […] [Read More]

The Federal Trade Commission is looking to raise awareness about identity theft and for good reason. The regulator said reports about any type of identity theft topped the list of consumer complaints submitted to the FTC through the third quarter of 2020. In an effort to help consumers and the financial services companies that provide […] [Read More]

Automotive search engine iSeeCars.com says that in looking at vehicle inventory in 2021, it has found that 9.5% less new-car inventory is available from the current model year compared to the same time last year. Karl Brauer, executive analyst for the site, said a possible reason for that is that automakers had to delay releases […] [Read More]

CT Services, a Jack Cooper Diversified Company, has hired Bob Gapinski as vice president of business development, noting that Gapinski brings more than 25 years of senior management experience in the testing, inspection and certification, or TIC, industry. Gapinski will lead the company’s efforts to develop and implement its next-generation OEM dealership process and vehicle […] [Read More]

DealerPolicy announced a $30 million round of Series B funding on Tuesday, which the company plans to use for developing its insurance marketplace serving the auto retail business as well as expanding its team. The latter includes the addition of a president and chief operating as well as a senior vice president of sales. Named president and […] [Read More]

On the heels of introducing a solution aimed to turn high volumes of industry information into easy-to-understand, actionable insights for dealers, OEMs and third-party software developers, CDK Global on Monday completed the acquisition of Austin, Texas-based Square Root for an undisclosed amount. The acquisition is viewed as an accelerator for Neuron, which CDK says can […] [Read More]

Ally Financial again is organizing support for a variety of initiatives now that Black History Month is underway, saying that access to careers with long-term growth potential is still not equal for everyone. To address this inequity, the company announced on Tuesday more than $1.3 million in scholarships and programs to open new pathways for […] [Read More]