Arivo Acceptance eyes second securitization, growth in 2021 By Joey Pizzolato | Auto Finance News Subprime lender Arivo Acceptance is eyeing growth in 2021 on the coattails of increased funding resources and mounting momentum in recent months as it works toward STIP-less funding. The Sandy, Utah-based lender recently renewed and upsized its warehouse line of credit with […]
Trended Credit and Alternative Data Attributes Improve Dealer and Consumer Experience in Auto Finance Market
In times of economic uncertainty, financial institutions are looking for new and innovative ways to approve qualified customers. Auto finance lender Arivo Acceptance has leveraged TransUnion’s (NYSE: TRU) CreditVision solution suite to accomplish this feat and generate a significant uplift in both application volumes and capture rates for the subprime market – while also turning in some of the lowest loan losses in their industry.
Arivo Acceptance used CreditVision trended and alternative credit data to improve the dealer and consumer experience, resulting in a 40% increase in capture rate and 30% reduction in turn time from application to funding.