In the ever-evolving landscape of auto finance, Westlake Financial is setting the pace. Every day Westlake’s Visorbot, a proprietary AI and machine learning tool, astoundingly computes 800,000 applications. In a single month, that amounts to 24 million loan computes.
Latest Fintech Interview: Global Fintech Interview with Ralph Dangelmaier, CEO & Board Member at BlueSnap
“It is, without doubt, an unparalleled opportunity we must seize,“ stated Mark Vazquez, SVP of Sales with Westlake Financial. “This is the power of technology harnessed with strategic intent.”
Among these applications, approximately 50,000 contracts are funded each month, representing 0.2% of total application computes. This highlights the untapped potential for portfolio expansion by an astonishing $480 billion every month. “It is, without doubt, an unparalleled opportunity we must seize,“ stated Mark Vazquez, SVP of Sales with Westlake Financial. “This is the power of technology harnessed with strategic intent.”
Read More About Fintech Interview: Global Fintech Interview with Marc Kuzak, Vice President of Legal at Yapily
Visorbot is an extraordinary innovation meticulously analyzing this data, aiding Westlake Financial in making astute, data-driven decisions. The benefits are apparent in improved risk management and continual strategy enhancement. The resulting portfolio? A collection of 1.3 million accounts, amounting to an impressive $18 billion.
The evolution, however, doesn’t stop here. “Visorbot continues to learn from the ever-growing dataset, increasing efficiency, profitability, and market share. It’s the kind of relentless progress and innovation that we value,” advised Chris Urban, SVP of Risk.
Westlake Financial is a pacesetter and innovator within the auto finance industry. Through the strategic application of AI, embodied in Visorbot, Westlake is shaping the future of auto financing.
Browse The Complete Interview About Fintech: Global Fintech Interview with Poorvi Sachar, Head of Operations at Tezos India
[To share your insights with us, please write to sghosh@martechseries.com]
