Successful marketing hinges on knowing what consumers want — and part of that is knowing who your customers are. In this episode of The Roadmap, Auto Finance Excellence talks with Chase Auto's Chief Marketing Officer Melinda Welsh to explore the often-missed opportunity of marketing to underrepresented demographics and promoting diversity within the traditionally male-driven industry. Welsh, who will join AFE in a dynamic and engaging fireside chat at the upcoming Auto Finance Accelerate event, ...
Apr 24, 2019•21 min•Ep. 18
The carshare and rideshare markets are gaining traction, and financiers must adapt their strategies or risk getting left behind. In this episode of The Roadmap, Auto Finance Excellence talks with Brian Allan, senior director of strategic partnerships at HyreCar, to discover how lenders can modify financing practices with an eye toward the mobility-as-a-service paradigm shift. Allan also outlines tactics for managing loan terms with carshare and rideshare consumers. Featuring Brian Allan, Senior ...
Feb 28, 2019•28 min•Ep. 17
Though credit unions have thrived in the current auto finance market, CU Direct is warning the 1,100 lenders on its platform to remain cautious as near-term macroeconomic factors -- like rising interest rates and a potential downturn -- are likely to spark additional risk factors. In this episode of The Roadmap, Auto Finance Excellence talks with Phil DuPree, CU Direct’s chief revenue officer, to discover how credit unions and other lenders can improve financing strategies amid the current marke...
Dec 03, 2018•5 min•Ep. 16
Though regulators have relaxed discriminatory lending rules, auto lenders are stepping up diversity education. Ally Financial, for one, is bolstering training efforts to reduce unintentional snap judgments based on race, gender, or appearance – a concept referred to as “unconscious bias.” In this episode of The Roadmap, Auto Finance Excellence talks with Reggie Willis, Ally’s director of diversity and inclusion, to discover what lending executives can do to become more open-minded and avoid havi...
Sep 18, 2018•13 min•Ep. 15
If there is one lesson Westlake Financial Services has learned since it started purchasing portfolios back in 2011, it’s to be prepared for hiccups along the way. Proactive communication and procedural refinement are two of the elements that enable companies to scale their business. In this episode of The Roadmap, Auto Finance Excellence talks with Paul Kerwin, Westlake’s chief financial officer, about what lenders can do to improve acquisition practices and leverage existing infrastructure for ...
Aug 29, 2018•13 min•Ep. 14
Whether you’re lending in Los Angeles or Shanghai, some auto finance fundamentals stay the same. Chas Roscow is an industry veteran with more than 35 years of experience in the space and he joins Auto Finance News for a special discussion on the automotive lending space in China and gives lenders some best practices for how to succeed in the growing market. Roscow will be speaking on this topic and beyond at the summit held at the Grand Hyatt Shanghai on September 5-6. For more details and to re...
Aug 14, 2018•18 min•Ep. 13
Collaborative corporate strategy, healthy relationships with other businesses, and opportunities that enable colleagues to fully express themselves are just a few of the benefits that come with a well-designed diversity and inclusion program for any financial services business. In this episode of The Roadmap, Auto Finance Excellence talks with two executives from Huntington Bank to discuss the steps required to develop and implement diverse and inclusive programs in the auto finance space. Tune ...
Jul 25, 2018•7 min•Ep. 12
Strategic partnerships are at risk of being marred by culture clash, when the turn-on-a-dime mentality of a startup challenges the red-tape decision-making of larger finance companies. In this episode of The Roadmap, Sonia Steinway, president of Outside Financial, shares insights to help startups and their corporate partners develop – and maintain – healthy relationships. Steinway also outlines the needs for thorough compliance and privacy protocol, as well as an ability to cater to consumers’ v...
Jun 22, 2018•18 min•Ep. 11
As auto lenders struggle to integrate artificial intelligence into origination models, powersports lessor MotoLease has fully embraced the technology. In this episode of The Roadmap, MotoLease Chief Executive Maurice Salter and Chief Operating Officer Emre Ucer discuss the steps involved in using AI to make independent credit decisions based on each person’s individual behavior, as well as the rationale for doing the project in-house. The pair also offer details of a soon-to-be launched website ...
Jun 11, 2018•20 min•Ep. 10
As credit unions continue to seize auto financing marketshare, knowing how they position themselves for success is key to understanding their growth. In this episode of The Roadmap, Sonya McDonald, Executive Vice President & Chief Lending Officer at Randolph-Brooks Federal Credit Union talks about the lenders’ strategy for growing direct lending by working with dealerships and how credit unions provide a unique customer service experience that bodes well for growth. She also discusses RBFCU’...
Apr 30, 2018•18 min•Ep. 9
With lingering uncertainty over what will become of the CFPB and unconfirmed appointees to the Federal Trade Commission, lenders’ compliance obligations are in flux. In this episode of The Roadmap, Dama Brown, Southwest regional director of the FTC, clears up confusion about collection practices and the Fair Debt Collection Practices Act, as well as valuable insights into a recent case again Blue Global LLC, which fraudulently sold consumer data that was promised to dealers. Brown also offers a ...
Mar 29, 2018•21 min•Ep. 8
As multiple subprime auto securitizers come to the market with lower average Fico scores, longer terms, and higher loan-to-value ratios than their previous issuances, many of these deals are being rewarded with higher ratings. In this episode of The Roadmap, Joseph Cioffi, a partner at Davis & Gilbert LLP, discusses the latest trends in auto ABS, including the industry's reliance on over-collateralization that may be masking greater subprime risk. Additionally, Cioffi also delves into trends...
Feb 26, 2018•20 min•Ep. 7
From new security features to 3-D images and biometrics, AutoGravity has several technology development projects on its roadmap this year, according to the online auto finance company’s new Chief Technology Officer Sheng Wang. In this episode of The Roadmap, Sheng details her new CTO role at AutoGravity, why it’s important to have a mobile-first strategy, and the company’s tech goals for 2018. Additionally, Sheng talks about the future of the F&I office, where consumers might be “getting stu...
Jan 23, 2018•14 min•Ep. 6
Alternative deal structures — in which lenders can offer potential borrowers with multiple finance options in response to a single credit request — are becoming more prominent as borrowers continue to seek instant credit decisions. In this episode of The Roadmap, Scott Hendriks, director of product management for auto originations at Fiserv, discusses how these alternative structures can prove beneficial for both lenders and borrowers, and why these structures are not just for the nonprime audie...
Dec 20, 2017•16 min•Ep. 5
Following the resignation of Consumer Financial Protection Bureau Director Richard Cordray, there has been much confusion surrounding the future of the CFPB and its leadership. Cordray named Leandra English as the agency's interim head, shortly before President Donald Trump named Office of Management and Budget Director Mick Mulvaney to the position, which ensued chaos. However, on the evening of Nov. 28, amid a battle of who would be the agency’s interim head, U.S. District Judge Timothy Kelly ...
Nov 28, 2017•14 min•Ep. 4
Security Service Federal Credit Union attributes its No. 1 rankings in the annual Auto Finance Performance report to managing success by focusing on dealer and member service, and not by trying to gain marketshare. In this episode of The Roadmap, Charles Goss, executive vice president and chief lending officer at Security Service, details the credit union’s secret to success, how it strives to enhance dealer relationships, and conservative underwriting efforts as the industry heads toward a down...
Oct 30, 2017•16 min•Ep. 3
Deep-subprime lending has notably expanded in the nonbank auto space, reaching $38.9 billion outstanding as of June. Additionally, subprime auto defaults reached $1.8 billion in June, making up about 80% of all defaults in the market. In this episode of The Roadmap, Michael Vogan, automobile economist in the credit analytics department at Moody's Analytics, details a presentation he developed on subprime auto credit, including how heightened competition and better analytical capabilities for ris...
Sep 18, 2017•20 min•Ep. 2
Industry leaders continue to predict where the end of the line will be for declining used-car values, but what can lenders do to prepare in the meantime? In this episode of The Roadmap, Chuck Jones, head of national indirect lending at SunTrust Banks, shares his “proactive” approach to remaining rational in the market, particularly as delinquencies rise. Jones also offers a peek into how bullish SunTrust will be with new and used financing next year. In 2014, Jones joined SunTrust Banks -- which...
Aug 14, 2017•15 min•Ep. 1
