Podcast: July 4 sparks 0% deals, Q2 sales robust
Second-quarter sales of new autos were mixed following a spike in March and April ahead of tariffs taking effect, while…
JPMorgan spends $2bn a year on AI, saves same amount – Dimon
JPMorgan Chase invests $2 billion a year developing AI, with the technology saving the bank about the same amount, according to CEO Jamie Dimon.
CPS application volume jumps 16% from yearend
LAS VEGAS — Subprime lender Consumer Portfolio Services’ application volume is up nearly 16% compared with yearend 2023 despite a…
Camping World F&I revenue up 7.2% year over year
Camping World’s finance and insurance revenue increased year over year in the second quarter as new-RV unit sales increased and…
HDFS originations down 4%
Harley-Davidson Financial Services’ retail originations declined year over year in the second quarter while credit losses fell and retail sales…
Rush to digitisation will see fintech sector flourish post-Covid-19
As the fintech sector struggles through the Covid-19 economic fallout, a report from VC Finch Capital offers some light at the end of the tunnel, suggesting that the crisis could ultimately end up benefiting the industry by accelerating the rush to digitisation.
Onbe & Allied Solutions partner to streamline auto-loan refund operations
Onbe and Allied Solutions announced a partnership on Thursday designed to help financial institutions, finance companies, dealerships and their clients modernize the automotive refund process. The partnership is fueled by Allied Solutions’ Refund Plus solution, which offers comprehensive support for … [Read More]
Auto outstandings near $1.8T, Toyota Financial Services in top spot (Big Wheels)
Industrywide auto loan and lease outstandings totaled about $1.78 trillion at yearend 2024, with Toyota Financial Services retaining its top…
SBS adds Wero digital wallet support to open banking platform
Fintech SBS has upgraded its open banking platform to let banks integrate the European Payments Initiative’s Wero digital wallet.
Robinhood rolls out prediction markets contracts
Robinhood has rolled out an in-app ‘Predictions Hub’, enabling customers to bet on the outcomes of world events.
Central banks to test FX settlement in wCBDC
The Bank for International Settlements (BIS) is launching Project Rialto to explore how instant cross-border payments could be improved using a modular foreign exchange component combined with settlement in wholesale central bank digital currencies (wCBDC).
PSR sets out next steps for variable recurring payments in the UK
The UK’s Payment Systems Regulator says it will assess the necessity and scope of mandated participation in Phase 1 expansion of Variable Recurring Payments (VRPs) following stakeholder feedback.
Robinhood hires CEO for UK launch
American stock trading app Robinhood has tapped Freetrade executive Jordan Sinclair to lead its renewed plan for a UK launch.
Temenos selected as core provider for Bank of Queensland tech rebuild
The Bank of Queensland has selected Temenos as the core banking supplier for its $440 million full stack tech rebuild.
5 associations urge CFPB to abandon latest request for data about repossessions & more
Five industry associations recently sent a 14-page letter to the Consumer Financial Protection Bureau (CFPB), pushing back against the regulator’s request for more information regarding collections and vehicle repossessions by auto finance companies. Part of what troubles these associations is … [Read More]