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Ford

FintechNews RoundupUSA
·Aug. 28, 2017

Ford Using Alternative Credit Data for Loan Approvals

After a pilot study with ZestFinance to test alternative underwriting, the firm has now announced it will extend its model to more broadly consider alternative data for loan underwriting approvals; alternative loan data is being increasingly utilized across the financial services industry; Ford believes the new underwriting initiative could help improve sales for the firm which are down 4.3% year-to-date through July. Source

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News RoundupOnline LendingUSA
·Jan. 24, 2017

AutoFi and Ford Partner for Online Car Sales

AutoFi and Ford have announced a new partnership that will make financing and buying a car available online; Ford will use the AutoFi platform for sales from its Ricart Ford dealership in Groveport, Ohio with expansion planned for dealerships throughout the United States; through the AutoFi platform customers can select a vehicle, access Ford Credit for a financing decision and terms, customize their vehicle protection products, review their paperwork, and schedule a time to complete the sale and pick up the vehicle; Ford Credit also made an equity investment in AutoFi.  Source

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