Tag Archive | "digital retailing"

TD Auto Finance Joins AutoGravity Network


CHERRY HILL, N.J. — TD Auto Finance (TDAF), a subsidiary of TD Bank, is the latest auto finance source to join AutoGravity’s car-shopping and financing platform, the two companies announced this week.

Through the newly forged partnership, indirect financing offers through TDAF will be made available to qualified auto buyers using AutoGravity’s digital platform, which allows consumers to search for and finance their next vehicle from their desktop or mobile device.

“We realize the impact that cutting-edge technology will have for our current and prospective dealer partners,” said Andrew Stuart, president and CEO of TD Auto Finance U.S. “Given consumers’ desire for digital options, our partnership with AutoGravity positions us to reach car buyers right on their smartphones and will help to drive the next wave of innovation in our industry.”

According to AutoGravity, more than one million users, a majority of whom as millennials, have downloaded AutoGravity’s native iOS and Android apps and collectively requested more than $2 billion in vehicle financing in 2017. Recognizing the popularity of comprehensive digital options in auto financing today, TDAF will utilize AutoGravity technology to further its reach to this set of consumers.

The AutoGravity app connects ready-to-buy car shoppers with lenders and dealerships through a seamless digital platform. Consumers can choose any new or used car, browse local inventory, apply for financing and select from up to four personalized indirect auto finance offers. Consumers can then take their chosen offer to the dealership to purchase the vehicle they selected.

“AutoGravity is reinventing the car-buying and financing journey with game-changing technology that effortlessly connects consumers, dealers and lenders,” said AutoGravity founder and CEO Andy Hinrichs. “Our partnership with TDAF reinforces our commitment to empower car buyers with finance options from the most trusted lenders in the industry — lenders that embrace technology to offer a new level of service to digitally savvy car buyers and dealerships alike.”

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Clarivoy Appoints Jessica Ruth to VP Role


COLUMBUS, Ohio — Dealer marketing solutions provider Clarivoy announced it has hired Jessica Ruth, formerly digital program manager at Dominion Dealer Solutions, as vice president of product.

Commenting on the new hire, Clarivoy CEO Steve White said, “Jessica is a vital addition to our leadership team where she will lead product creation and management for all current and new products. These responsibilities are critical to achieving Clarivoy’s strategic goal: to provide dealers with a single complete view of how people buy cars and where to get their next sale.

“Her experience and background make her a perfect fit as VP of Product, where she will pioneer new product development, resulting in demonstrative revenue growth, increased market share and customer adoption,” White added.

Ruth brings more than 10 years of auto industry experience to Clarivoy, having successfully managed, launched and led large software development projects. She previously served as digital program manager at Dominion Dealer Solutions, where she created new processes, products and efficiencies that led to improved customer product delivery. She has also served in executive roles with DealerFire and DealerRefresh.

“As I considered my next opportunity, it was important for me to join an organization that is trustworthy, progressive and rooted in their industry objectives,” Ruth said. “Clarivoy’s mission of helping dealers as an unbiased third-party provider aligned with my personal beliefs and professional goals. They are truly a dealer partner whose only interest is helping dealers succeed. I’m extremely excited to join such a great team.”

Visit Clarivoy at Booth 763N at the 2018 NADA convention in Las Vegas.

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Chase Joins AutoFi’s Digital Retailing Platform


NEW YORK — Chase became the first national bank to join AutoFi’s digital retailing platform, the finance source announced today.

AutoFi is a fintech firm that offers a digital retailing platform that connects dealers with finance sources and buyers. Under the new partnership, Chase will deliver financing terms online through the AutoFi platform.

“AutoFi helps dealers provide a fast and easy digital car-buying experience that consumers want,” said Chase Auto Finance CEO Mark O’Donovan. “Our customers are our top priority — both dealers and car buyers. We want to provide them with the best financial experience whether they are in a dealership or online.”

AutoFi CEO Kevin Singerman added: “We are thrilled to partner with Chase. We share a common vision of using technology to deliver a delightful consumer purchase experience. Our partnership brings tremendous value to the dealer community leveraging the breadth of Chase’s full spectrum lending and automated capabilities to deliver a comprehensive digital retailing solution to dealers across the nation.”

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Pearl Technology Integrates Experian Propensity Scoring Platform


DALLAS — Pearl Technology Holdings LLC today announced it has expanded its relationship with Experian to include information on consumer vehicle buying habits. The enhancement allows dealers to precisely target consumers that have the highest propensity to purchase or lease a vehicle within a specified timeframe.

As part of the agreement, Pearl is now able to evaluate more than 1,000 elements when scoring a consumer’s propensity to buy or lease, as well as open new opportunities to its auto dealer clients for pre-owned and CPO units. Pearl now knows which consumers are new or pre-owned buyers, and can target by propensity, APR, payment amount, payments made or remaining, term and credit score, and more.

“We are simply thrilled to expand our relationship with Experian. We contemplated building our own scoring methodology but, ultimately, there is no better data or analytic interpreter than Experian,” said Pearl founder and CEO Bruce Thompson. “Understanding what consumers are likely to purchase or lease, as well as when, is what it’s all about. Overlaying our existing technology on top of 240 million pre-screened records allows our clients to win big with much less investment.”

Today, Pearl’s VehicleXchange incentive-based marketing platform processes nearly 50,000 Experian consumer pre-screens per day for both dealer and OEM clients. By leveraging the new data from Experian, Pearl’s clients will now have the capability to conquest market share for any type of transaction by almost any criteria.

“We’re excited to continue our work with the Pearl team,” said John Gray, president of Experian Automotive. “Understanding the current market landscape and when a consumer is in the market to buy is critical for automotive dealers and OEMs alike. With these insights available, dealers will be able to unlock the potential of the data and to uncover new pockets of opportunity, increase profitability and improve the overall consumer experience.”

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