Just like a finance company might do with its portfolio, fintechs diversify, too. Look at what’s happening at AutoFi. Building on the strength of its digital retail platform, AutoFi has launched a new business division focused on the automotive industry’s largest enterprises. Germinating from this division is the company’s new Lending as a Service (LaaS) offering. […] [Read More]

Tresl is making an investment in a fellow fintech stemming from a relationship that began nearly two years ago. And the firms are also rolling out a tool aimed to help banks and credit unions. On Tuesday, Tresl announced that the company has made a strategic investment in CreditSnap, which describes itself as a next-generation […] [Read More]

Inovatec Systems Corp. rebranded its cloud-based software solutions back in October. This week, the fintech firm launched a major enhancement designed to save time and manual labor. Inovatec announced its JAVELIN platform now offers optical character recognition (OCR) for automatic document indexing and sorting. The company highlighted the OCR technology uses custom-built artificial intelligence and […] [Read More]

Alex “SkipGuru” Price returned to the Auto Remarketing podcast to discuss one of the subjects he knows best: skip-tracing. Now the director of training and development for LocateSmarter, a data and analytics company, Price described how the pandemic has impacted collections and skip-tracing while also reflecting on how tried and true methods continue to be […] [Read More]

Line 5, which partners with dealers to fund vehicle protection plans at all points along the credit spectrum, recently announced an integration with the technology solutions experts at TecAssured. TecAssured is a leading provider of innovative technology solutions for the management, sales and end-to-end administration of automotive aftermarket, consumer and insurance products. Line 5 now […] [Read More]

Looking through the prism of the public asset-backed securities market (ABS), both S&P Global Ratings and Kroll Bond Rating Agency (KBRA) spotted deterioration when analysts examined subprime auto financing. However, the softening didn’t trigger an extreme reaction from experts, with some pointing to some seasonality still playing a role. Beginning with the latest update from […] [Read More]

Auction sales volumes at the midpoint of January were the strongest weekly output since before Thanksgiving, but they remain significantly softer than year-ago levels, says J.D. Power Valuation Services, bumping up prices in the lanes. In the firm’s Used Market Update released Friday, J.D. Power said there were about 87,000 auction sales of vehicles up […] [Read More]

Social advocacy platform Quantum5 has appointed Germain Toyota of Naples general manager Brian Kramer to its advisory board. Quantum5, which says it transforms dealership training through its lifetime value model, described Kramer as an industry thought leader for digital transformation. For Germain, Kramer served in several different roles before he became a general manager of […] [Read More]

The Automotive Trade Association Executives, or ATAE, has elected Scott Lambert as its 2021 chairman. The election took place virtually at the ATAE annual winter meeting on Thursday. Lambert is president of the Minnesota Automobile Dealers Association and has been with that group for more than 30 years, supporting Minnesota’s more than 375 dealers. He […] [Read More]

The Larry H. Miller Group of Companies is growing its overall automotive footprint by delving into the insurance world. In partnership with Leavitt Group, the company on Tuesday announced the launch of Larry H. Miller Insurance Services, an independent insurance agency that will offer LHM customers auto, home, life and business insurance. Company leaders highlighted […] [Read More]