UOB targets Singapore’s ’emerging affluent’ with state-of-the-art branch
United Overseas Bank (UOB) is mixing the physical and the digital with a new tech-packed branch focussed on Singapore’s large “emerging affluent” class.
Vervent takes on successor servicing role following Tricolor bankruptcy
Vervent confirmed via a news release on Monday that it has been authorized to step in as a successor servicer in response to the Chapter 7 bankruptcy filing by Tricolor Holdings. Previously designated as backup servicer, Vervent said it has … [Read More]
Credit Acceptance taps Real-Time Payments from Citizens to speed dealer funding
Credit Acceptance wants to make doing business with its dealership network smoother, so the finance company that specializes in subprime recently began to use Real-Time Payments from Citizens. Now, Credit Acceptance dealership customers can receive funds faster on deals they … [Read More]
Dissent over FTC action against dealer group questions ‘unfairness jurisdiction’
Perhaps dealerships and other segments of the auto finance and retail spaces can take solace in the dissenting statement from one of the former leaders of the Federal Trade Commission, which ordered a Washington, D.C.-area dealer group to pay more … [Read More]
F&I survey shows majority of managers earn total income of at least $250K
Want to make major money at a dealership? Be a successful F&I director. According to the 2023 survey of F&I managers and directors orchestrated by Finance Manager Training, 35% of professionals who participated earned total income of $250,000 or more. … [Read More]
Auto lenders weigh sustainability in decisioning
Auto lenders are considering environmental factors when making financing decisions, a move that could affect which assets they finance as…
Podcast: Auto industry eyes tariffs, credit performance
Auto lenders are keeping an eye on loan production, credit performance and vehicle prices as tariffs loom. Subprime lender Credit…
Cops shut down international spoofing ring behind million of pounds in fraud
An international one stop spoofing shop, which enabled criminals to appear as if they were calling from banks, tax offices and other official bodies, has been taken down in the UK’s biggest ever fraud operation.
Why US fintech and banking is at an inflection point
Boston Fintech Week returned this week for its seventh instalment, welcoming industry experts and executives to a two day conference at the Federal Reserve Bank of Boston to discuss the state of banking and fintech at full throttle in the US, and explore what lies ahead.
Bill-split app Cino to expand to UK on €3.5 million funding round
Lithuanian bill-splitting startup Cino has raised has raised €3.5m in Seed funding led by Balderton Capital to expand into the UK.
Retail boat registrations plunge 17% YoY
Boat retail registrations sank year over year in August while inventory levels trended lower on a unit basis in most…
ARA forms new committee focused on agent safety
The American Recovery Association recently formed another committee. President Vaughn Clemmons said this one “was established to tackle one of the greatest challenges in our profession: ensuring the safety and protection of repossession agents.” ARA said its Recovery Agent Protection … [Read More]
EPI looks to join forces with other payment schemes to secure EU sovereignty in payments
BNP Paribas is backing attempts by the European Payments Initiative to wrest control of the EU’s payments ecosystem away from US card schemes and Big Tech giants and secure the Bloc’s sovereignty in payments.
Ignite Consulting Partners explains why door knocking can be risky business
Through a recent installment of its tip of the week, Ignite Consulting Partners tackled a strategy that some collections departments might use to kickstart stalled efforts to find and reach their delinquent account holders. Perhaps the opposite of text messaging, … [Read More]
Lloyds to use AI to automate trade finance checks
Lloyds Bank is to use AI technology from Cleareye to eliminate the manual drudgery of paper processing and compliance checking for trade finance documentation.