Alphabet and Microsoft shares soar thanks to AI investments
Share prices of Big Tech companies Google and Microsoft shot up on Friday, a result of large investments in artificial intelligence (AI) that led to immediate revenue returns.
White Label Holding acquires National Auto Lenders
Another auto-finance company specializing in the subprime space now has new ownership. White Label Holding, a U.S.-based financial group specializing in integrated automotive lending solutions, on Monday announced the full acquisition of National Auto Lenders, which is a non-prime auto … [Read More]
AI is transforming auto finance
Artificial Intelligence and machine learning have been transformative forces in business for more than two decades. . Early adopters like…
Interest rates, leasing and sales dynamics: 3 themes at Auto Finance Summit
LAS VEGAS — Auto lenders and manufacturers are still navigating high interest rates despite positive movement by the Federal Reserve,…
The Future of Dealer Commercial Lending: Mastering Inventory Risk Management
The dealer commercial lending industry is undergoing a rapid transformation driven by technological advancements, regulatory shifts, and evolving market demands….
Podcast: ‘Weekly Wrap’ on Q4 earnings kickoff
Fourth-quarter earnings season kicked off with several banks reporting mixed results in auto originations as some tightened credit and others…
Grasshopper raises $46.6m
Digital business bank Grasshopper has raised $46.6 million to support its merger with Auto Club Trust.
ECB runs AI coding marathon to get new insights into supervisory data
The European Central Bank (ECB) has teamed up with digital innovation outfit Reply to run a 48-hour coding marathon focused on the application of AI and machine learning.
CFPB takes aim at digital payment privacy and consumer protections
The Consumer Financial Protection Bureau is looking into how it can apply existing privacy and consumer protections laws to emerging digital payments offered through Big Tech, as well as stablecoins and other cryptocurrencies.
FNZ secures second large cash injection
Wealth management platform FNZ has raised $650 million in new equity funding from its institutional shareholders, the second such cash injection that the firm has received this year.
TurboPass honors 7 dealers
During the holiday season, TurboPass gave gifts to seven dealerships that use its verification solutions designed to reduce fraud and improve customer service. Winners of the TurboPass 2023 Dealer of the Year Awards include: National Dealer of the Year: Toyota … [Read More]
AI trends: Rise of specialized chatbots
Google rebranded its AI chatbot Bard to Gemini, reflecting its advanced large language model capabilities. . This is part of…
Sonic Auto F&I revenue inches down
Finance and insurance revenue ticked down during the second quarter for Sonic Automotive while auto sales fell following cyberattacks on…
Data platform launches to help FIs eliminate deforestation from their portfolios
A new data platform, called Forest IQ, has launched to provide financial institutions with data on how more than 2000 major companies are addressing their links to deforestation.
Tandem co-founders and Nutmeg COO raise £3.2 million to launch new wealth app
Former Tandem alumni Ricky Knox and Nick Perrett alongside Nutmeg COO Phil Bungey have launched a new wealthtech business with £3.2 million pre-seed backing from a host of fintech founders.