Buying a car is one of the largest purchases a consumer will make in their lifetime. And while
it can be an exciting process, it can also be stressful. Because, traditionally, financing a new
automobile has never been a quick and easy process – requiring long applications and
complicated repayment methods. And these processes aren’t just a source of friction for the
customer, it prevents dealerships from moving stock quickly, and it takes up valuable time
and human resources for the lenders who approve and provide the loans.
But our consumer and auto financing payment solutions are getting an upgrade.
In this episode of Forces in Fintech, we’ll find out how digital payments are transforming the
consumer and automotive payments space by giving individuals access to funds more easily
- all while making repayments faster and more accessible than ever before. Joining us in our
episode today is Preston Cecil, Consumer and Auto Finance Leader at REPAY, to discuss how
digitization is modernizing consumer and auto financing, making vehicle (and other big-ticket) purchases simpler than ever before. We’ll learn about the tools and services allowing
lenders to move more nimbly on finance applications and how these solutions benefit
customers, merchants, and lenders alike.
We’ll also find out:
(
1:01) – How did Preston come to be with REPAY?
(
2:56) – Who are the clients REPAY serves within consumer and auto financing?
(
4:44) – What differentiates REPAYs consumer and auto financing solutions from the
rest of the market?
(
6:50) – Who are the biggest competitors in the auto financing market?
(
8:00) – What is instant funding in the context of personal financing?
(
9:41) – Who is driving demand for new payment capabilities?
(
11:23) – How has REPAY’s go-to-market approach evolved and how has the sales
pipeline developed?
(
14:06) – What does Preston see in the future of consumer and auto financing
payments?