Loan Origination for Auto Financing

Customers / GM Financial

“We have gained total in-house ownership of our solution development. It is quite amazing how we can support so many complex lending products with the single Provenir Platform. We are in charge of our future now, which means we can better serve our customers and extend the value of our brand worldwide.”

Jeff Lively, VP of Dealer Services

Auto Financing Made Easy

Key Benefits

  • A single, integrated architecture for managing lending operations across the GM Financial extended enterprise.
  • Increased ROI with reduced processing time for loan decisions and system availability maintained without additional software or hardware.
  • Increased efficiency with easily implemented updates.
  • Ability to expand into new markets seamlessly, both from the end-user perspective and from the application volume perspective.

Business Issue

With over 1 million customers and approximately $16 billion in managed auto receivables, GM Financial is a leading independent automobile finance company. It provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. Since May 2006, GM Financial has made two acquisitions, increasing its lending scope from subprime auto finance to a full spectrum of product offerings.

A few years ago, GM Financial’s loan origination system was an automated solution that involved several applications and a combination of vendor-supplied systems. This complicated structure required external resources for performing updates.

Consistent with its reputation as an industry leader, GM Financial wanted to increase its capacity to support lenders in the field and ensure consistency at the local level. The company also sought a system that would allow it to adjust quickly to changes in the market, thus improving revenue opportunities. As a result, GM Financial decided to look for an integrated loan origination solution that would bring control in-house and deliver flexibility, scalability and ease of use.

GM Financial automatically decisions the majority of applications with Provenir's origination solution for high-risk clients.

"The Provenir Platform enables us to combine consumer credit bureau data with loan application and loan structure information for automatic decisioning of the majority of the applications we receive."

– Bill Turner, Vice President IT, Business Systems

Why Provenir

GM Financial selected and implemented a complete loan origination solution using the Provenir Risk Analytics and Decisioning Platform in its branch offices throughout the U.S. and Canada. The platform supports both user-interactive requests and automated analysis transactions. In addition, it provides the ability to make quick lending decisions at the local level that are consistent with best practices and the latest guidelines established by corporate management, as well as local and federal regulations.

With Provenir, GM Financial can add new channels and support expansion as the company continues to grow into offering a full spectrum of auto finance solutions. The platform enables the company to quickly configure an auto finance lending solution that provides complete end-to-end application processing for direct and indirect loan and leasing operations. Using the single, unified platform, GM Financial can encompass the entire auto lending process, including data validation, vehicle valuations, credit data retrieval, scoring, fraud prevention and funding.

Auto Finance Software | Provenir

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