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Ally reaps $11B in originations last quarter on record application volume

Ally Financial’s originations climbed 24.5% year over year in the third quarter amid record-high origination volume. Auto originations came in…

BRP North American sales dip 10%

Slower snowmobile and personal watercraft sales contributed to a 10% year-over-year decline in Canadian powersports manufacturer Bombardier Recreational Products’ total…

AI threatens as many as 200,000 jobs in global banks – Bloomberg

Global banks will cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to a market survey conducted by Bloomberg Intelligence.

25% of used-car buyers in negative equity position

Some auto consumers faced negative equity in 2024, but many had strong or stable equity positions that offset challenges in…

LSEG and Microsoft join forces to build generative AI models

The London Stock Exchange Group (LSEG) and Microsoft are partnering with banks to form customised generative AI models.

BlackRock claims tokenisation first

BlackRock, the world’s largest asset manager, has taken its first step into the world of tokenisation.

GrailPay raises $6.7 million for remedial ACH platform

GrailPay, a risk and data platform for bank payments, has secured $6.7 million in funding to expand its suite of tools that make ACH transactions safer and faster.

Barclaycard gets down with the kids in Apps for Good challenge

Barclaycard is supporting the launch of two new apps developed by schoolchildren as part of the UK’s Apps for Good education initiative.

Big Wheels: Examining negative equity: Price fluctuations pressure consumers

Skyrocketing used-vehicle values during the pandemic pushed loan-to-value ratios down, increasing lender recovery rates and borrower equity. By the end…

Retailers vie for squeezed used-vehicle supply

Used-vehicle supply is constrained, creating a competitive market for dealers and retailers looking to acquire used cars directly from consumers. …

S&P lowers Tricolor auto ABS ratings

Unpaid interest across six classes of notes in Tricolor Auto’s asset-backed securitization deal rated by S&P Global has prompted the agency to reinstate and lower its…

Safe-Guard’s leadership transition continues with new COO

Less than a week after promoting two of its executives to be the company’s chief financial officer and chief risk officer, Safe-Guard Products International appointed its new chief operating officer on Thursday. Taking on the role for the provider of … [Read More]