Westlake Financial recently shared how much the finance company is using artificial intelligence and machine learning nowadays. According to a news release, Westlake’s proprietary AI and ML tool, Visorbot, computes 800,000 applications per day. In a single month, Westlake said ... [Read More]
The Federal Reserve raised interest rates another 25 basis points this week to leave the federal funds rate at 5.25-5.5%. But two leading automotive economists as well as another top industry analyst remain hopeful on two important fronts for dealerships ... [Read More]
The Auto Dealer’s Complete Checklist for Evaluating AI highlights key questions dealership leaders should ask technology partners during the selection...
Lenders are grappling with record-high automotive loan delinquencies, all while navigating budget constraints, staffing shortages and more. To overcome these...
Automotive Personnel founder Don Jasensky paid another visit to be on the Auto Remarketing Podcast for a discussion about the employment front. Jasensky shared his perspectives with Cherokee Media Group’s Nick Zulovich about which departments finance companies are looking to ... [Read More]
PassTime might not have a badge, but the GPS solutions provider was recently involved in a pair of incidents where the company provided crucial assistance to law enforcement. Through a post on its website and another on social media, PassTime ... [Read More]
Experian senior director of automotive financial solutions Melinda Zabritski came back for another visit on the Auto Remarketing Podcast. Cherokee Media Group’s Nick Zulovich asked Zabritski if auto finance data is “normal” again after pandemic anomalies. Listen to Zabritski’s intriguing ... [Read More]
Consumer Portfolio Services chief operating officer Mike Lavin explained why PayNearMe now being natively integrated with the Cash App Pay is good for the subprime auto finance company. “The addition of Cash App Pay will give our customers even more ... [Read More]
The Federal Reserve is doing more than adjusting interest rates nowadays. On Thursday, the Fed announced that its new system for instant payments, the FedNow Service, is now live. Officials said banks and credit unions of all sizes can sign ... [Read More]
It might ease concerns from finance companies to see watchers of credit performance and defaults observe seasonal movements, according to the newest updates released this week. The auto portion of the S&P/Experian Consumer Credit Default Indices generated just a 1 ... [Read More]
AutoPayPlus strengthened its financial leadership with someone who brings experience national and international experience in both the public and private sectors. The provider of automated biweekly and early loan payoff services announced on Tuesday that Donald Retreage Jr. has joined ... [Read More]
Cox Automotive said “June marked an important turning point” in connection with credit being available to consumers to acquire vehicles. But the subprime segment remains on a downward trend. The Dealertrack Credit Availability Index for all types of auto financing ... [Read More]
