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For the past 22 years, the National Automotive Finance (NAF) Association has produced a report for the non-prime auto financing market which serves as a key source of benchmarking for those who participate in or support non-prime automotive financing. This year, FICO was pleased to coordinate the survey, market data, and generate the final analysis and report. The…

In a previous blog post, Ben Werner wrote about the report FICO helped coordinate with the National Automotive Finance (NAF) Association for the non-prime auto financing market. The report serves as a key source of benchmarking for those who participate in or support non-prime automotive financing. Below is an infographic which provides a more visual representation o…

Given new and disruptive innovations in the auto industry such as driverless cars, collaborative economy models with companies like Uber and Lyft entering the mainstream, new subscription ownership models, and the overall shift to digital experiences, it’s clear that the vehicle industry is experiencing tremendous change. Does this extend to consumer experiences and p…

Online auto financing grabbed a bigger piece of the pie last year in the UK, according to a new survey from FICO. Our survey of 2,000 recent car buyers in nine countries showed that: 21% of UK buyers got online auto financing, vs. 15 percent last year, an increase of almost 33 percent. Of the nine countries in Europe and the Americas surveyed, only Chile saw m…

The findings of FICO's second annual global survey on consumers’ automotive finance experience revealed two very different consumer markets in Australia and New Zealand. The antipodes diverged this year as Australian consumers warmed to taking out more loans in the dealer channel, while New Zealanders showed a strong preference for online lending. (FICO’s indepe…

Automotive finance is a cyclical industry. So, where do we stand in today’s non-prime auto finance market? That’s the key question the 2019 Non-Prime Automotive Finance Survey sought to answer. The survey results were released during the 23rd Non-Prime Auto Finance Conference held June 4th-7th in Plano, Texas. The NAF Association and AFSA collaborated with FICO, Tr…

The most popular stories in customer development were about how to improve the customer journey. Much of the focus on the FICO Blog was on ways to increase profitability by reaching customers with better offers, loans tailored to their needs or indeed customers who were deemed too risky. Here are the 5 customer development posts from 2019 with the most views on the…

Seventy percent of digital transformation projects fail to reach their stated goals, at least according to research from McKinsey Consulting. This statistic seems shocking because it’s easy to forget just how much complexity there is in creating transformative new experiences for customers. We take it for granted that, with a few taps on our smartphones, we can summon…