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Carvana originations rise 44.1%

Carvana’s originations rose in the first quarter as the company prioritized growth and used-vehicle retail sales increased. Originations totaled $2.7…

Axis originations down 49.6% YoY amid sale plans

Axis Auto Finance’s originations declined in the first quarter of fiscal year 2025 as credit performance worsened and the company…

CarMax Auto Finance originations fall 9%

CarMax Auto Finance’s originations and penetration rate declined during the third quarter of its fiscal 2024 as the financier tightened…

Why are FIs shifting grid computing to the cloud?

The financial services industry has long required compute-intensive calculations for risk management, regulatory compliance, product development, pricing, trading, clearing and surveillance. However, the volume and timeliness of these calculations have increased.

Live: EBAday2018, day two

Payments professionals from across Europe are gathering in Munich this week for EBAday 2018, hosted by the Euro Banking Association and Finextra. We’re liveblogging events here.

TD to pay $3.1 billion in money laundering case, face asset cap

Toronto-Dominion Bank will pay almost $3.1 billion in fines and other penalties and face a cap on its US retail…

Mollie agrees GoCardless acquisition

Mollie has agreed a deal to acquire GoCardless, marking a new wave of consolidation in the venture-backed fintech payment sector.

USED CAR WEEK 2023 PODCAST: Path to improved repossession & remarketing logistics

We continue our series on the Auto Remarketing Podcast highlighting some of the panels and presentations from Used Car Week 2023. This episode features a dealer panel titled, “Building the Bridge for Lenders to Improve Remarketing Logistics.” The session was … [Read More]

Scotland launches North America Fintech Gateway

Scotland has unveiled a “Fintech Gateway” with North America in an effort to accelerate international growth for the country’s fintechs while attracting a wave of foreign direct investment.

Edmunds spots 3 new records connected to negative equity in Q3

The newest auto-finance data Edmunds released on Wednesday focused specifically on new-vehicle purchases and excluded used. But it still showed the conundrum lenders are facing nowadays associated with average negative equity, which climbed to an all-time high in the third … [Read More]

Turkish crypto chief starts 11,196-year prison sentence

Faruk Fatih Ozer, the former boss of failed Turkish cryptocurrency exchange Thodex, has started a lengthy jail sentence after he was found guilty of defrauding investors in a multimillion dollar fraud.

As delinquency continues to rise, consumers’ view on buying vehicles deteriorates, too

Signals about what happens before and after a vehicle is delivered and financed aren’t so rosy. Cox Automotive chief economist Jonathan Smoke pointed out that the initial October reading of consumer sentiment from the University of Michigan showed, “Consumers’ views … [Read More]