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2017 is proving a challenging year for the auto finance industry: with falling new vehicle sales, limitations on urban car usage and increased regulatory requirements are just some of the developments that have piled on the pressure.
In addition, forecasts suggest customer spend on connected and self-driving cars, plus associated digital services, is likely to reach €2.2 trillion annually by 2030. Much of that money is just as likely to go to the tech giants like Google and Amazon, who are already staking claims on the automotive market, as it is to traditional lenders and dealers.
Auto Finance Technology, Asset Finance International’s new magazine takes a close look at what this all means.
This issue’s highlights include:
- Georg Bauer, the innovator who has shaped financial services for Mercedes, BMW and Tesla, previews his latest start-up. The Fair app allows customers to get a car with a driver’s license and bank account, using their smartphone to shop, get approved and pay for the vehicle, with no paperwork involved.
- We look at how Ford Motor Credit and Toyota Financial Services are turning to fintech start-ups like ZestFinance and London-based Aire for help building new insight into borrowers with thin credit files, using artificial intelligence and machine learning to better predict risk in auto financing.
- EY explains how blockchain will solve core mobility issues by enable shared use and shared ownership of large fleets of vehicles, arguing the technology will permit true peer-to-peer interactions with minimal infrastructure requirements
- Cazana provides lessons in how to use technology to provide reliable and accurate pricing in the used car market
- Ridecell explains the development of a ‘white label’ platform for fleets, used for processing service payments, tracking the health of vehicles, and dispatching fleet operators when the car needs to be refuelled or maintained.
Plus our regular regulatory and compliance roundup, the latest news on finance, technology and mobility trends, and details of the upcoming IAFN conference.
With technology both creating new opportunities and threatening existing business models, Auto Finance Technology was launched last year to provide finance professionals with one-stop shop to stay up-to-date with the latest innovations, and to learn how leading auto finance companies are using new tech to attract and keep more customers.
To download your copy of Asset Finance Technology, complete the form below.