Passed in 1968, the Truth in Lending Act encourages accuracy among consumer lenders by requiring they disclose certain terms when offering a loan. Modern lending platforms can support an auto lender’s compliance with this act and associated regulations.
HOW DIGITAL LENDING IMPROVES THE CUSTOMER JOURNEY FOR BANKS
Bank services and processes have been largely digitized. These days, it’s not even necessary for a bank’s customers to visit …
UNDERWRITING COMPLIANCE: HOW TO ACHIEVE, MAINTAIN, AND DEMONSTRATE IT
Auto lenders have many underwriting compliance requirements. They also need efficiency and profitability. New lending technology can help them do it all.
UNDERSTANDING ELECTRIC VEHICLE LENDING MARKET SHARE FORECAST FOR LENDERS’ GROWTH POTENTIAL
The quickly growing market for sustainable personal transportation is also driving more electric vehicle lending. According to a report by …
WHY FULL CALL CENTER OUTSOURCING MAKES SENSE FOR AUTO LENDERS
Lending institutions of all sizes are looking for strategies to improve the efficiency of customer care and simultaneously lower operational …
CONCERNS ABOUT THE DISADVANTAGES OF CALL CENTER OUTSOURCING FOR AUTO LENDERS
Auto lenders wanting greater efficiency in managing the increasing call volume from borrowers may be hesitant to consider outsourcing their …
HOW OUTSOURCING ACCOUNTS RECEIVABLE AND COLLECTIONS IS ADVANTAGEOUS FOR AUTO LENDERS
Unlike loan originations which has a relatively short start to finish cycle and uses automation extensively to bring consistency and …
WHY THE MANAGED SERVICING BPO VALUE PROPOSITION MATTERS MORE THAN EVER FOR AUTO LENDERS
A growing number of auto lenders are seriously evaluating managed servicing (business process outsourcing (BPO) services for lease and loan …
HOW BPO DELIVERS BUSINESS PROCESS OPTIMIZATION FOR AUTO LENDERS
Every auto lender strives for greater efficiency and lower operating costs. Throughout the lending cycle, there are dozens of opportunities …
WHEN CHOOSING A THIRD-PARTY BPO OR MANAGED SERVICING PROVIDER, LOOK FOR INDUSTRY EXPERIENCE
Business process outsourcing has been widely adopted across all industries, from the simple outsourcing of activities, such as accounts receivable, …