Recent data points to more auto borrowers struggling to keep up with loans, but default rates remain below pre-pandemic levels.
Businesses involved in the automotive industry are realizing there is no single-source tactic to fraud prevention and are taking important steps to cover all possible bases to thwart the rising threat of fraudulent activity.
As auto loans and credit apps rise, it appears Americans are more willing to take on debt.
With advanced analytical insights, dealers and lenders have more power to reach consumers on a personalized level while also protecting against the threat of fraud.
While instincts are important, it’s even more critical to have access to the right tools and technology that can help lenders spot synthetic identity fraud before it happens.
Bourgeois brings a strong background in data and information technology systems to the position, critical as automotive dealers and lenders embrace a digital automotive experience and navigate a challenging economic environment.
Buying behaviors may change for a growing number of potential car shoppers, many who have lost jobs or been furloughed due to the economic fallout of the pandemic. As more lenders rely on advanced real-time data, they may mitigate risk and put themselves in a better competitive position.
Automotive industry executive with proven track record to lead continued growth of Market Scan’s application programming interface solutions.
Equifax analysts say U.S. auto loan and lease originations declined 0.6% and 3.9% year-over-year in the first half of 2019, but balances for new vehicle loans were up 2.6%.
An Equifax review of auto finance data from the first four months of 2019 found subprime’s percentage of total originations fell to 22.7% for all purchases and 9.2% of new-vehicle leases.
media brand
The secure and easy all-access connection to your content.
Bookmarked content can then be accessed anytime on all of your logged in devices!
Already a member? Log In