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At this year’s virtual Automotive Intelligence Summit (AIS), I had the opportunity to lead a discussion about the impacts of the COVID-19 pandemic on the auto lending and recovery industries, and how data and analytics can help lenders and recovery agents as their businesses begin to restart. Prior to the pandemic, auto loan balances were […]
DRN began conducting migration studies in March as the COVID-19 pandemic began to prompt stay-at-home orders and business shutdowns across the U.S. Our findings confirmed that fewer cars have been on the road and many people have relocated, either for jobs, financial reasons, to move away from COVID “hotspots,” or to shelter-in-place closer to family […]
DRN’s Jeremiah Wheeler, EVP and General Manager, joined a recent discussion on the Auto Remarketing Podcast. Jeremiah provided perspective on how the COVID-19 pandemic has affected location data gathering and how DRN had to quickly shift its strategy and processes to maintain the volume of data needed to meet ongoing public safety and other needs. […]
COVID-19 has had significant impacts on every individual, family and business across the U.S. and beyond. It’s also created some trends among consumers that are useful for insurers to understand: Job loss has caused many people to relocate, either to find work in another location, move to a less expensive home or neighborhood, or […]
As our nation begins to move slowly toward recovery from the COVID-19 shutdown, businesses are shifting their focus from the financial and other implications of temporary closures. The new focus is on developing “Reopen Strategies” that will allow our industry to slowly push toward normalcy. DRNsights data can play a meaningful role in these strategies […]
COVID-19 has created a unique situation for DRN and our lenders. With communities nationwide in various stages of shutdown, businesses closed, and many people working from home or – unfortunately – unable to work, there are fewer cars on the road and more staying parked at home. This has enhanced DRN’s ability to locate […]
DRN hosted a webinar in April to share perspectives from the vehicle finance industry about how the current COVID-19 environment is changing how they do business. We heard from Jan Stieger, Executive Director of the Receivables Management Association International (RMA Intl.), a receivables trade association. Jan discussed that the COVID-19 pandemic has created a need […]
DRN continues to closely monitor the widespread impact of the coronavirus (COVID-19) pandemic. The safety and well-being of our employees, customers, partners and suppliers remain our top priority. Additionally, we are committed more than ever to supporting the critical communications, safety and security needs of our public safety and enterprise customers during this time. A […]
New OSA Report Cites Complaints Against Auto Lenders from Servicemembers The Office of Servicemember Affairs (OSA) recently released their 2018 Annual Report, which details complaints that have been submitted by servicemembers throughout the year. According to the report, there have been many complaints received about vehicle loans, which included: Late fees without notice from lenders […]
Several DRN leaders participated in the AFSA Vehicle Finance Conference and Expo earlier this month in Las Vegas. The event hosted more than 250 members of the auto finance industry, from lenders to auto executives to technology providers. Presenters discussed the latest business trends and innovations in auto finance, as well as changing consumer demands […]
