Lower auto ABS issuance leads to weakened industry performance (Big Wheels)
The auto finance industry was weaker in August on a year-over-year and sequential basis, largely due to a decline in…
Capital One’s Discover buy: a cross-selling opportunity for auto
Capital One’s planned acquisition of credit card company Discover Financial Services presents the bank with an opportunity to cross-sell its…
ICapital preps tech hiring spree
Alternative investment platform iCapital is boosting its technology team with 100 hires in the US and Portugal.
CULA exec Mark Chandler dies
Automotive industry veteran Mark Chandler has died, Credit Union Leasing of America announced last week. Mark Chandler Chandler held multiple…
ECB to run climate risk stress test
The European Central Bank (ECB) has launched a supervisory climate risk stress test to assess how prepared banks are for dealing with financial and economic shocks stemming from global warming.
Bank of Lithuania puts halt on new customers for local paytech Kevin
The Lithuanian central bank has appointed an independent supervisor and restricted new business for local paytech Kevin after losing patience with the firm for repeated failings to file its annual reports.
Judge allows Tricolor trustee to operate business in limited capacity
Anne Burns, the trustee in charge of Tricolor Holdings, can operate some parts of the business to secure Tricolor’s assets…
Hyundai launches Hyundai Translead Capital
Hyundai Capital America is partnering with Hyundai Translead to launch a new captive finance arm, Hyundai Translead Capital. Hyundai Translead Capital aims to streamline and expand financing options for the trailer manufacturer’s customers and dealer…
NAB pledges $1.4bn funding for Aussie tech sector
National Australia Bank (NAB) is to commit AUS$2bn ($1.38bn) to support Australia’s technology sector.
ING tackles robo-advisory conundrum
Research among 15,000 consumers conducted by ING finds that only two percent would trust a fully automated robo-adviser to invest their money on their behalf.
Under attack: The rise of AI-powered fraud in banking
Financial fraud is escalating worldwide. The global cost of fraud and cybercrime is projected to hit $10.5 trillion this year,…
BBVA and the University of Navarra embark on applied research project into responsible AI
BBVA is entering a three-year project with the University of Navarra to address the main ethical, technical and regulatory challenges posed by artificial intelligence.
Swift Operations Forum Europe 2019, Amsterdam – Day 2 report
With the accelerating pace of transformation in financial services, day two of SOFE 2019 explored the direction of travel financial institutions should embark on in order to thrive in this new world.
CarMax Auto Finance provision for credit losses up 25%
CarMax Auto Finance increased its provision for credit losses due to an uptick in expected losses, while originations ticked down…
Metaverse and decentralised identity flagged as emerging tech to watch – Gartner
Research by Gartner identified 25 “must-know” emerging technologies across three key areas which it predicts will greatly impact business and society over the next two to ten years.