Auto lenders are integrating artificial intelligence into their processes to improve customer service automation and credit decisioning, while also considering uses for underwriting. Subprime auto lenders can use AI to ensure staff and resources are allocated to tasks that help overcome challenges related to accessibility, operational costs and credit risk, said Harvey Singh, chief operating officer at Veros (…)
Trending
- Swedish startup Bits secures €12 million to enhance automation in FinTech compliance processes.
- Tarabut Purchases Servable to Enhance Financial AI Features
- CBN Unveils Fintech Report Emphasizing Growth and Regulatory Challenges
- China ranks as the second most competitive nation globally in AI funding.
- CBN fintech investigation report suggests significant change in regulator’s position
- Reasons for Consumer Resistance to AI Financial Advisors
- Oracle may eliminate as many as 30,000 positions to finance the growth of its AI data centers amid the withdrawal of US banks.
- Building trust, infrastructure, and effective implementation is essential for scaling AI in finance, as demonstrated by Huawei.
