Independent Auto Finance Company - Origination

Client: A North American vehicle finance company who handles a peak volume of thousands of applications per day and specializes in the non-prime market.

Challenge: Needed to control risk while providing innovative loan products and rapid decisions to consumers who may not qualify for traditional bank or dealer financing.

Solution: Replaced internal decision system with FICO® Origination Manager, which now enables the company to provide faster, more flexible lending decisions to its network of dealers.

Non-prime auto financing decisions have traditionally been the ones that require manual review and the most time to make. Often consumers get frustrated at the dealership as sales staff go back and forth with the financing company to try to find the right deal structure and determine if the customer will qualify— but this independent vehicle financing company makes a large percentage of its decisions on non-prime loans in just minutes, while also accelerating underwriting for those needing underwriter review. Risk management, for both types of decisions, is now better and more consistent than ever.