Point Predictive’s latest Auto Lending Fraud Trends Report finds auto finance sources face an estimated $9.2 billion in loss exposure, fueled primarily by “first-party” credit application fraud. +
Attorney Tom Oscherwitz says generative AI-powered “deepfakes” are giving criminals new ways to defraud dealers and finance sources and spurring the development of new detection tools.+
DealNow.com’s Brad Parker says platforms that connect dealers with sellers of privately owned vehicles need built-in identity verification and fraud prevention tools to avoid costly mistakes. +
A Protective Asset Protection survey found that 57% of U.S. dealers said at least half their customers bought F&I products online last year and 60% believe offering those products online improved sales. +
TransUnion now offers a creditworthiness score based on the applicant’s banking activities, potentially adding options for car buyers without access to “mainstream” credit. +
An eLEND Solutions survey found 90% of respondents believe AI-based pricing is contributing to inaccurate online quotes. +
A new partnership that pairs Reynolds and Reynolds’s DMS with Sunbit’s prescreening technology was designed to allow dealers to deliver automated financing offers to service customers. +
Reynolds and Reynolds has partnered with Skaivision, a provider of “smart space” AI designed to help dealers become more efficient and profitable by leveraging cameras trained on staff and customers. +
Why are investors drawn to WarrCloud’s automated warranty processing solution? WardsAuto’s Alysha Webb follows the money. +
Anomaly Labs CEO Marty Hu believes his company’s AI-powered F&I training tool will help dealers complete compliance checklists while F&I professionals sharpen their skills again AI “customers.” +
