Non-Prime Auto Finance Conference Recap

Non Prime Auto Finance Conference Recap Informed

The Non-Prime Auto Finance Conference (NAF) is an event focused on the subprime and nonprime segments of the auto finance industry. These segments typically include borrowers who do not qualify for prime credit terms due to lower credit scores or limited credit histories. The conference serves as a platform for industry professionals to discuss trends, challenges, and opportunities in the nonprime auto finance market.

Key aspects of the Non-Prime Auto Finance Conference were focused on the theme of accountability including:

Networking Opportunities

The conference provided a space for lenders, dealers, service providers, and other stakeholders to connect and build relationships. Special sessions for newcomers, Roundtables & Deep Dives on topics like leadership development, risk mitigation, operations, and collections, and the Power Hour speed networking session. These activities fostered meaningful professional connections and collaborative discussions among participants.

Educational Sessions & Marketing Insights

Attendees participated in workshops, panels, and presentations that covered a wide range of topics such as regulatory updates, risk management, underwriting practices, and new technologies in the nonprime auto finance sector. Industry experts shared their insights on current trends, economic factors affecting the market, and future outlooks. A fireside chat keynote with Kyle Birch of GM Financial kicked off the conference and provided insights into the upcoming sessions.

Regulatory & Fraud Updates

Given the heavily regulated nature of the industry, sessions focused on compliance, legal issues, and best practices for navigating the regulatory landscape. The fraud session with by Frank McKenna and Troy Hut focused on trends and prevention strategies. Frank’s key points included the significant rise in fraud during and post-pandemic, with over a million fraudsters emerging, including affluent college students. Generative AI is a new, sophisticated tool for creating realistic voice calls, phishing emails, and synthetics that bypass KYC controls. The conversation covered the anticipated creation of digital doppelgangers by 2026 and the misuse of deepfake technology for voter suppression and scams.

Synthetic identity fraud has surged by over 500% in auto lending since 2017, with Credit Privacy Numbers (CPNs) being a major fraud factor. Additionally, credit washing and income fraud have risen, leading to higher default rates. Fraud as a service, including pre-made CPNs with fake documentation, is becoming more prevalent. Action items included monitoring fraud channels on Telegram, educating consumers on CPN risks, investigating the impact of application methods on fraud rates.

Celebrating Industry Contributions

Jim Bass (Agora Data) was honored with the Jack Tracey Pinnacle Award, presented by last year’s winner Tom Hudson, recognizing his significant contributions to the non-prime auto finance industry.

The Non-Prime Auto Finance Conference is organized by the National Automotive Finance Association (NAF Association), a trade organization dedicated to supporting the needs and interests of companies involved in nonprime auto financing. The event attracts a diverse range of participants from across the auto finance ecosystem, offering valuable opportunities for learning, networking, and business development. It was great spending time with friends, clients and soon-to-be clients!

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Jessica Gonzalez Director of Lending Strategies
With more than 15 years’ experience in the financial services industry, including tenures at Santander Consumer USA and Visa, Jessica Gonzalez is now the VP of Customer Success, Lending at Informed.IQ.

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