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Pelican Auto Finance | Auto Finance News

Sharing Secrets — Roadblocks to Creating a Dealer Fraud Detection Network

With dealer fraud reaching “higher than normal” levels for Pelican Auto Finance LLC, the subprime lender has been looking to develop a lender network to share dealer fraud insights, said Troy Cavallaro, the company’s chief executive. However, the company has been “unable to move the needle” on the project dueRead More

Pelican Rejects Loans Amid Record-High Fraud

Pelican Auto Finance LLC is experiencing the highest level of fraudulent paystubs “that we’ve ever seen,” resulting in higher return rates for the subprime lender, Scott Schauer, chief operating officer and chief risk officer, told attendees at AFS 2016. “It’s so simple, you just go on the internet and create your own (paystub),” he said.Read More

Pelican Hires SVP of Servicing

Pelican Auto Finance LLC hired Chris Mitcham two weeks ago as senior vice president of servicing and analytics, as part of the company’s growth plan, said Troy Cavallaro, the firm’s chief executive. “We’re really looking into how to shore up the senior management team to take us to the next level,”Read More

Pelican to Debut E-Statements

Pelican Auto Finance LLC will provide account statements electronically to customers by yearend, culminating a three-pronged effort to enhance digital capabilities, said Joel Kennedy, the lender’s chief of performance. “E-statements will allow a customer to view payment history on a statement from our core system,” he said. Though customers can do “a lot” through mobileRead More

Pelican Mobile App Going Live By Yearend

Pelican Auto Finance plans to release a new smartphone app in the fourth quarter, as a result of ubiquitous mobility in the subprime lending space, Compliance Chief Joel Kennedy said. “We’re blowing past web design and going right for the mobile — we’re giving the website a second seat,” heRead More

Pelican to Offer Text Payment Options

Pelican Auto Finance will soon offer pay-by-text to its customers after partnering with Solutions by Text, Chief Compliance Officer Joel Kennedy told Auto Finance News. This is part of a wholesale upgrade of its merchant services toward a self-service philosophy for customers, he added. “It’s about customer self-service, making everything as mobile as possible,” Kennedy said.Read More

Behavioral Analytics Trim Risk, Experts Say

If you are not at least exploring behavioral analytics in credit decisioning, you are lagging, according to Ray Antunez, credit risk manager at U.S. Auto Credit Corp.

AFRCS, AFI: It’s not too Late to Join</p>
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There is still time to register for the Auto Finance Risk & Compliance Summit – the only industry event that offers a dual-agenda focused specifically on Compliance and Risk Management. In fact, attendees can register on-site. The 2016 Auto Finance Risk and Compliance Summit’s will kick off with Dan Bickmore,Read More

WEBINAR: Embrace Technology to Engage Consumers

Smartphones are “the future” when it comes to customer engagement, Joel Kennedy, co-founder and chief compliance officer at Pelican Auto Finance, said during a recent webinar, hosted by the Center for Auto Finance Excellence.

[Webinar] Innovations in Customer Engagement, Regulatory Compliance

In the first of four quarterly webinars this year, the Center for Auto Finance Excellence will host Joel Kennedy, co-founder and chief compliance officer at Pelican Auto Finance, to discuss the use of gamification, consumer rewards systems, and self-service options to bolster customer engagement and regulatory compliance. “We are looking at email and text, andRead More

Credit Scores Regain Relevance As Economic Recovery Continues

In the past couple years, credit scores have become “much more meaningful” to the critical task of figuring out which consumers will likely pay their auto loans in the future, and which ones won’t, according to Western Funding Inc.  President Guerin Senter. In contrast, credit scores lost some of theirRead More

Customer Engagement on Track for 2016, Pelican Exec Says

SCOTTSDALE, Ariz. — Subprime lender Pelican Auto Finance LLC expects to launch its Customer Engagement 2.0 initiative in 2016, introducing a number of changes to its customer service processes, said Joel Kennedy, chief performance officer. “We are looking at email and text, and the ability of agents to actually interactRead More

VIDEO: Pelican CEO Talks Combating Dealer Fraud

Dealer fraud is more common today than it has ever been before, Pelican Auto Finance LLC Chief Executive Troy Cavallaro told AFN. “The impacts for a financial institution can be significant,” he said. “We expect a certain amount of charge-off, but when too much of this gets through, it hasRead More

Dealer Fraud on The Docket at Upcoming Auto Finance Summit

Dealer fraud is still a real and present danger, according to Pelican Auto Finance LLC Chief Executive Troy Cavallaro. “Fraud is on the rise,” Cavallaro told AFN. “We could blame it on technology because the reality is, it’s just easier to do [now] than it was 15 years ago.” CavallaroRead More


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