Reducing risk, prompting sales amid rising DQs, fraud
The auto finance industry is navigating a landscape marked by rising delinquencies, escalating fraud and evolving consumer behaviors. As of…
SAAR outpaces early forecasts
Auto sales in the U.S. beat initial expectations for 2023 as the seasonally adjusted annual rate increased year over year…
Ex-PayPal CEO Schulman joins Valor Capital
Former PayPal and American Express boss Dan Schulman is joining Valor Capital Group, the cross-border venture fund focused on bridging the US and Latin American technology markets.
Currencycloud raises £32m – TechCrunch
London-based cross-border payments outfit Currencycloud has raised £32 million in the first part of a Series E funding round, according to TechCrunch.
Pathzero raises A$8.6m for financed emissions tool
Pathzero, an Australian firm specialising in the measurement and management of financed emissions, has raised AU$8.6 million in a Series A+ round.
ACC pauses originations but not ‘a closure of business’
One of the longest-tenured finance companies in the subprime space has paused originations but said, “This is not a closure of business.” Automotive Credit Corp. (ACC) said late Thursday afternoon it will continue to fund all complete contract packages that … [Read More]
AutoPayPlus adds Fifth Third Bank to payment network
If contract holders in your portfolio do business with Fifth Third Bank, here’s an option to help them stay current. AutoPayPlus has engaged with Fifth Third Bank to further diversify its portfolio of bank partners that provide money transmission solutions … [Read More]
Lendbuzz secures $400M from Viola Credit
AI-driven subprime auto lender Lendbuzz has secured $400 million in forward flow funding from alternative asset manager Viola Credit to…
Ally Financial ups auto allowances as losses rise
Ally Financial increased its allowance for auto credit losses in the first quarter as delinquencies and net charge-offs rose on…
Newest TransUnion auto finance data shows trend not seen in almost 10 years
The auto portion of TransUnion’s Q4 2022 Quarterly Credit Industry Insights Report (CIIR) included a metric that dipped to its lowest reading in nearly a decade. Viewed one quarter in arrears to account for reporting lag, TransUnion reported this week … [Read More]
UK climate fintech Zero secures partners ahead of launch
Zero, a UK finance app targeting climate-active young Brits has signed up a host of technology partners ahead of its launch later this year.
PayPal wallet comes to ChatGPT
Shares in PayPal soared more than 10% on news that the payments firm has struck a deal with OpenAI to embed its wallet into ChatGPT.
IBM, BillGo on securing payments against quantum computing threats
At Nacha event Smarter Faster Payments 2025 in New Orleans, a weekend panel session explored how financial institutions must establish an internal risk committee that assesses and mitigates future quantum-related threats.
UBS joins Green Software Foundation
Swiss banking giant UBS has joined the Green Software Foundation as a steering member, joining Goldman Sachs and tech giants Microsoft, Accenture, GitHub and ThoughtWorks.
Mastercard and Pay4You form spend management partnership
Mastercard has joined forces with self-service payment portal Pay4You to pitch a tail spend management offering to firms in Europe.