6JUNE 2020Managing EditorSarah DawsonAaron Pierce Ann Bennis Antony MosesVisualizerAlbert RozarioSalesSarah DawsonManaging Editoreditor@cfotechoutlook.comRichard Watsonrichard@cfotechoutlook.comEditor's NoteContact Us:Phone:510-556-2280 Fax:510-894-8405Email:sales@cfotechoutlook.comeditor@cfotechoutlook.commarketing@cfotechoutlook.com JUNE - 04 - 2020, Vol - 06, Issue - 06 (ISSN 2644 - 2841)Published by ValleyMedia, Inc. To subscribe to CFO Tech OutlookVisit www.cfotechoutlook.com Editorial StaffAva GarciaJoshua Parker Paul BarberJoy ParkerCopyright © 2020 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffSince digital processes are pervasive across all customer segments worldwide, lenders are making the best of the circumstances by applying more fluid and virtual ways to strengthen customer loyalty and optimize costs. Yet, the leeway to adopt these technologies to increase efficiency is largely being unrealized. More than ever, an arduous, time-consuming customer journey can create a difference between abandoned and completed loan applications. The abandonment rates for online loan applications are rising because of the plethora of options that lay on the customer's side. With innumerable options in the market, customers can afford to switch easily from one lender to another, resulting in zero customer loyalty and no relationship with a brand. The solution to this phenomenon also lies within the adoption of digital processes. Loan originators can utilize technological innovations to simplify operations and create a seamless experience for their clients. At present, there are proven technologies that accelerate the application processes by providing consumer-friendly methods. By adopting these methods, lenders can leverage their LOS, enhance their yield, cut down their application cycle time, and quickly bridge the CX gap in auto lending.These developments in the auto-finance markets from all over the industry, at present, paints a picture of a marketplace that is undergoing revolutionary changes, especially with technologies such as AI, Blockchain, and Cryptocurrencies backing the lenders. In this edition of CFO Tech Outlook, light has been shed on those lenders who have redefined the auto finance sector and helped it reach its full potential. We hope that our readers find these insights worthwhile and applicable to their agencies. Let us know your thoughts. Managing Auto Finance the Digital Way
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