Locations Salon A

Data + Leadership = Successful Change

The amount of data available in the world is expected to double by the end of 2024. The vast amount of data available will provide new challenges to the way we conduct business. During this workshop, we are going to talk about leadership in the data-driven world in which we live and work. Due to the vast quantity of data, there must be an organizational shift to incorporate data processes into the entire organization, not just the IT department. Yes, data is computer science and some may even say it is rocket science, but it doesn’t have to be that way. Using tools most employees currently have on their desktop PCs, most anyone can produce data and data analysis. And last, we will discuss how to keep computers from overtaking the human aspect of work.

Key Takeaways:

  • Data is no longer the job of the CIO or IT department. Everyone should think critically about the data they collect and how they use it. Making sure that everyone in the room is involved in the process of making AI is the only way that we can make sure it’s safe.
  • Data is not rocket science. Most data problems can be solved by your current employees. Ordinary people and managers who haven’t had a lot of training can use simple tools like Microsoft Excel to make powerful analyses. Find out what your business needs to do and then figure out how to do it.
  • Having a lot of data is great, but it isn’t the same as talking to your employees and customers. A lot of big data and analytics are used too much by many businesses when they are looking for strategic ideas. And, waiting too long to make decisions can slow down businesses, frustrate employees, and make them miss out on important opportunities. It’s sometimes better to just make a decision rather than get more information or think about it more.

Completion-Driven Customer Journeys and Fraud Prevention in Auto Lending & Servicing

Many of today’s lenders invest everything possible in creating a stellar customer experience. From glossy advertising to strong dealer relationships, the best lenders are pouring time and money into reeling in new customers. But at the moment of truth — when a customer is about to onboard or needs to receive service — lenders tend to slow down. Customers find themselves bounced between agents, touchpoints, and channels, and are lost.

To be sure, in the digital age, much of the customer journey is happening independently. By making it easier to navigate a webpage or app, and by enabling the customer to interact with their lender via chat and social media, financial institutions have improved customer journeys significantly.

However, research shows that most customers still prefer to receive agent-assisted help when in need to complete a complex task or process. This last leg of the journey is often long, painful and full of friction. In many cases, these bumps in the last mile lead to a failure to complete the task. Customers attempt to finalize their loan applications, but their efforts are thwarted.

We have identified two of the primary reasons why auto lenders fail to bring interactions to completion: The prevalence of silos and legacy channels.

Key Takeaways:

  • Essential data on digitization in the automotive industry
  • How to provide a fully digital customer experience from purchase to finance to servicing
  • How to remove silos and easily collect stips, signatures, payments and verify ID in a digital, automated fashion

How to Keep Consumers Connected

The ‘Connected Car’ is the buzz of the industry, but the real belle of the ball is the ‘Connected Consumer.’

While a vehicle on average has 176 “connection points,” the consumer has thousands of points of communication, and what ultimately matters for dealers, lenders, OEMs, and F&I providers, is how to most effectively deliver timely and relevant messaging to today’s savvy vehicle shopper and owner.

With so much conversation around the connected car, we’ve lost sight of the ultimate objective: Connecting with the consumer and creating an ongoing relationship that leads to a loyal and connected customer.

Digital Air Strike will share the top strategies for dealers, OEMs, financial services, and aftermarket companies to connect and empower consumers in ways that drive conversions and loyalty.

The target is to get the right message to the customer at the right time using the right medium throughout the consumer’s path to purchase and beyond. This is done by leveraging technology and data. The more personalized you are, the more consumer engagement you’ll get.

Key Takeaways:

  • Learn how to use technology and data to connect and empower consumers and drive conversions and loyalty.
  • Understand gaps in your consumer communication to keep customers coming back for more sales and service.
  • Discover the top strategies dealers use to deliver timely and relevant messaging to consumers.

HOW TO: Build a culture overnight for higher retention, productivity, and profitability

An effective leader, like a great coach, knows how to maximize the utility of their players and employees. In this fact-based and data-driven session, you will see a case study that will give you a glimpse into how to:

  • See who your employees really are
  • Where their greatest talents lie
  • Where they need support so you can unlock your greatest potential. The best part: Your employees will love you more for it and you will see higher profitability.

Key Takeaways: 

  • See how to harness the dormant superheros in your organization
  • See the plan of action to maximize the retention, productivity and profitability of each employee
  • See how, as markets, environments and people change, you can adapt, in real-time, to be the most effective leader possible

Using Technology to Collect Debt: Navigating the Regulatory Landmines

While the CFPB’s new Regulation F purports to bring certainty to debt collectors’ use of electronic communications to collect debt, many open questions remain. Will debt collectors actually follow the highly technical procedures set forth in the rule, and what is a creditor’s obligation when its debt collector decides to follow Reg F’s safe harbors? Will the CFPB hold creditors to the same standards in Reg F as debt collectors? Now that the CFPB has expressly authorized the use of text messages to collect debt, what are the implications of the U.S. Supreme Court’s Facebook case on the use of account-related text messages? Finally, what are the implications of the Eleventh Circuit’s recent Hunstein decisions on the use of email, text message, and skip tracing vendors?

Using LPR in the asset recovery process

Attendees of this workshop should be those responsible for asset recovery.

Topics of learning are:

  1. Using passive assignments for quick recoveries
  2. How passive assignments work
  3. Using a management company vs a LPR only company
  4. Benefits of a faster recovery.

Key Takeaways:

  • How passive assignments work
  • Using a management company vs a LPR only company
  • Benefits of a faster recovery.