GM Financial is ramping up its investment in auto decisioning and technology to enhance dealer relations and customer experience. The captive is aiming to reduce funding time for dealers to under 30 minutes, according to Chitra Herle, global chief Information officer, who spoke at the Auto Finance Summit East 2024.
The company’s focus on technology extends to document management, asset management, and overall efficiency improvements. One example is the use of technology to transcribe calls with consumers, providing summaries and feedback for reference, as part of GM’s broader plan to invest in tech for efficiency.
“We’re fostering a culture of embracing change and continuous learning,” Herle stated. “By leaning on a growth mindset, we encourage both our customers and employees to acquire new skills.”
At Ally Financial, CIO of Auto Finance and Insurance Pat Rinaldo emphasized the importance of investing in tech and innovation to eliminate mundane tasks and support employees in contributing to the company’s broader strategy.
Carvana, a fully digital platform, is leveraging technology to streamline the car-buying process for consumers. The company recently introduced same-day delivery, utilizing technology to expedite transactions while maintaining accuracy.
Despite the increasing reliance on technology, Andrew Flegg, chief technology officer at Alfa Financial Software, emphasized that customer service is ultimately driven by human connection. The integration of tech and data into processes should not overshadow the importance of personal interactions in customer service.