Weekly Wrap: Banks stock up on capital, vehicle values plummet
In the second week of first-quarter earnings season, Ally Financial reported the addition of $2.8 billion to its retail auto reserves, joining last week’s reporters, including Bank of America, JP Morg...
24 Apr 202012min
Weekly Wrap: Earnings season kicks off, COVID-19 spurs increased reserves
First-quarter earnings season kicked off with JPMorgan Chase, Wells Fargo, Bank of America and Consumer Portfolio Services reporting increased loss reserves as the COVID-19 economic crisis continues t...
17 Apr 20202min
Regulatory risks in providing coronavirus-based payment deferrals
The coronavirus outbreak has resulted in an economic recession spurred by shelter-in-place orders that have shuttered doors for nonessential businesses, including most car dealerships. During a compli...
15 Apr 202034min
Filling the gap in servicing, collections with data-driven technology
During the past ten years, lenders have focused on improving data-driven technology on the origination side, yet that same technology hasn’t been as actively applied to the servicing and collections s...
26 Feb 20209min
Measuring and mitigating fraud risk
As auto lenders look to technology to scale and grow their businesses, the susceptibility to fraud grows. Technology can help lenders catch fraud, and detection can be achieved at a greater scale with...
28 Jan 202019min
PenFed outlines strategies for perfecting the digital customer journey
When it comes to customer service, auto lenders are constantly being compared with companies like Amazon that deliver an easy-to-use — digital — customer service experience. Today, consumers expect th...
19 Dec 201916min
Creating a personalized approach to customer communication
Gone are the days of reaching out to customers solely via mail or phone. WhatsApp, Facebook Messenger, and live chat are quickly gaining popularity as channels of choice among customers seeking suppor...
17 Dec 201926min
Innovative uses for AI in auto finance
The term artificial intelligence has been around for decades, and recently the technology has become a part of the auto finance industry — infiltrating lenders’ underwriting processes, loan payments, ...
18 Nov 201916min
