Lendbuzz automates over 50% of originations
The majority of AI-driven auto lender Lendbuzz’s originations are automated, thanks in part to AI tools and an ability to…
Santander customers warned about circumventing Facebook Marketplace scam prevention measures
Santander has found that come customers are circumventing new measures to stop bank transfers for Facebook Marketplace payments in cases where a customer has not seen the item in person.
Ford Credit to launch platform for data-driven insights in 2025
Ford Credit in 2025 will be looking to leverage consumer data to improve communications with borrowers and streamline customer service….
Experian notices contract terms continue to shorten
Experian’s newest State of the Automotive Finance Market Report showed average contract terms continued to decrease. Amid rising interest rates, Experian reported on Thursday consumers are continuing to opt for shorter terms based on findings from the second quarter. However, … [Read More]
Messages from Truist & Westlake illustrate wide-ranging state of auto financing
Messages obtained by SubPrime Auto Finance News during the past couple of days perhaps illustrate how wide-ranging the auto finance landscape currently is. On Friday, Cherokee Media Group received an anonymous tip that Truist Bank and Regional Acceptance were set … [Read More]
BNY Mellon partners Verituity on real-time digital payouts
BNY Mellon has added fintech startup Verituity to its accelerator programme to work towards providing faster, smarter, verified payouts.
Juspay integrates Mastercard’s Click to Pay in Brazil
Brazil-based payments platform Juspay has become the first Latin American provider to integrate Mastercard’s Click to Pay.
US jobless claims rise to one-month high in Thanksgiving week
Applications for US unemployment benefits rose to the highest in a month during a week that included the Thanksgiving holiday….
Bank failure to manage climate risks poses threat of extinction
The European Central Bank has waned of the grave transition risks for banks that fail to prepare for a low carbon economy.
Podcast: Black Book’s Lawrence, NPA’s Amata talk changing powersports values
Motorhome values fell in line with seasonal trends, climbing in May, Black Book principal specialty vehicles analyst Eric Lawrence told…
Fintech valuations stabilising says VC fund chief
The fintech market is returning to some sense of normality in terms of valuations after a period in which it “largely lost its head”, according to a leading investor.
Standard Bank calls for rule changes to enable trade digitisation
Standard Bank says it is talking to regulators in multiple markets about amending regulations during the Covid19 crisis to make digital trade easier.
Big Wheels: Banks hold auto lending standards steady
Banks largely did not change their credit standards for auto loans in the second quarter as demand remained tight. The…
Manheim Used Vehicle Index down 4.8% year over year
Wholesale used-vehicle values increased month over month but fell year over year in July as values declined across every major…
Evolve Bank confirms data stolen by ransomware gang
Days after claiming that it had hacked the US Federal Reserve, the Russia-linked LockBit ransomware gang has posted stolen customer data from Evolve Bank & Trust on the dark web.