Gen AI use cases for lenders
Auto lenders have been approaching generative AI with caution, spurred by regulatory oversight and limited use cases, but there are ...
Tag: artificial intelligence
Upstart auto originations fall 49%
AI-based lending platform Upstart tallied a steep decline in auto loan production in the third quarter as nonprime consumers continued ...
Balancing Act: The key factors shaping auto finance in 2024
The auto finance industry is teetering on the fulcrum of the U.S. economy. On one hand, auto outstandings have never ...
Podcast: ‘Weekly Wrap’ discussion on Auto Finance Summit 2023
Auto lenders homed in on subprime financing, liquidity management, technology and vehicle pricing last week during Auto Finance Summit 2023. ...
Verify bank statements and self-employed income in real time
Top auto lenders have digitally transformed dealer portals and revolutionized the way financial transactions are managed. Now they’re launching real-time ...
CFPB expands guidance on adverse action notice
The Consumer Financial Protection Bureau has doubled down on adverse action requirements for lenders using AI-based underwriting with new guidance, ...
Westlake portfolio grows following product launches
Westlake Financial increased its number of funded auto loans by more than 50% year over year in July in some of ...
Lender Westlake is using AI to make more auto loans
Westlake Financial is working with Pagaya Technologies Ltd. to make auto loans using artificial intelligence, targeting a void left by ...
