Winning the Auto Lending Game: Building a Digital Bridge to Borrowers

All signs point to an auto lending industry that is on the mend.  As the economy has improved and consumer confidence has returned, auto loans have been on the rise and financial institutions (FIs) are benefitting. With the emergence of new technology, auto purchasing and auto loans are increasingly digitally enabled, making it easier to borrow not only directly from FIs at their websites, but also through aggregators and other services that build bridges between consumers, lenders and dealers.  But the easy growth won’t last forever.  Successfully using digital technology will be critical for FIs as they seek additional growth and a hedge against a potential downturn in borrowing and new models of mobility.

Companies Mentioned: AutoGravity, AutoFi, CUneXus, Carvana, Book by Cadillac, Care by Volvo, Flexdrive, Fair, Porsche Passport