AFSA Wraps the 2021 Vehicle Finance Conference
AFSA wrapped up the 2021 Vehicle Finance Conference this afternoon. Day One began with world-renowned futurist, Peter Diamandis. Diamandis’ presentation, “The Future is Faster than You Think,” focused on exponential technological growth, the 6D’s (Digitize, Deceptive, Disruptive, Dematerialized, Demonetize, Democratize), and artificial intelligence. This presentation was sponsored by FIS.
Attendees then had four Roundtable Discussions hosted by FICO, National Bankruptcy Services, White Clarke Group, and PayNearMe.
AFSA Senior Vice Presidents, Danielle Fagre Arlowe and Celia Winslow, talked about the new Administration and Congress and how both will affect the financial services industry at both the federal and state levels. The session was sponsored by Clarity by Experian. OpenLending sponsored the Economic Outlook & The Great Pandemic session led by Dr. Mark Zandi, Chief Economist at Moody’s Analytics. Dr. Zandi predicted robust growth by mid-year as he shared a chart to show an idea of where and how. He also gave an overview of the U.S. economy, as well as an outlook on how U.S. and global economies will continue to cope with the ongoing pandemic and policy changes.
The final presentation of the day, Accelerating Diversity & Inclusion, started with Cheslie Kryst, Poyner Spruill Diversity Adviser, sponsored by Alfa. Kryst gave her insights on diversity, equity and inclusion, particularly within the financial services industry and how the social justice movement is quickly evolving in the United States. Following Kryst’s presentation a panel of auto finance professionals gave their own insights on diversity, equity and inclusion within the industry. Later in the day, attendees gathered for a virtual wine tasting sponsored by DataScan with Voluptuary & Lucid Wines hosted by Kevin Luther and Brian Johnson.
Day Two was sponsored by McGlinchey kicked off with Sheryl Connelly’s “Trendsetting: How Far, How Fast?” session, sponsored by Inovatec.
In the “Wholesale Vehicle Market” session sponsored by Black Book, industry experts from Manheim, a Cox Automotive Business, and ADESA, KAR Global, discussed the wholesale vehicle market and the effect the pandemic has had on the use of technology in the auction process. We were joined by industry experts from McKinsey & Company for their presentation “Dealing with Disruption: How the Vehicle Finance Industry Will Adapt” sponsored by DRN. These McKinsey & Company partners gave their latest perspectives on automotive retail disruptions and how those will shape vehicle financing moving into the future.
Day Two’s Roundtable Discussions were hosted by Crown Asset Management (CAM), NetSol, and Zest AI. The Industry Keynote with Stephen Carlisle, Executive Vice President and President of General Motors, North America, was sponsored by TransUnion. Carlisle was joined by Kyle Birch, AFSA Vehicle Finance Division Board Chair, as they discussed the automotive industry in 2021.
Day Two ended with our Happy Hour Trivia where attendees got to show off their trivia knowledge and had their chance to win fun prizes.
Day Three, sponsored by Inovatec, started with “The Pivot to Digital” with Ryan Deiss, sponsored by Equifax. His presentation focused on how to adapt to the “digitization” of everything, noting that marketing is digital, leadership is digital, and CX is digital.
The afternoon began with the “Industry Pulse” session sponsored by Cox Automotive. In this panel, industry leaders participated in an open conversation where they gave their insights on where 2021 is heading. The panel left the audience with the advice, “Stay agile and stay open minded.”
AFSA Vice President, Celia Winslow, moderated a discussion with former CFPB Assistant Director David Silberman, and Vice President, Innovation and Policy, Garry Reeder, on the effect that government benefits have had on consumers, especially on those in the racial minority and differing social classes. The AFSA/NADA Dialogue with AFSA Vehicle Finance Chair Kyle Birch and Incoming NADA Chair Paul Walser highlighted key issues for lenders and dealers and the AWARE program.
The 2021 Vehicle Finance Conference concluded with “The Road Ahead: A Fireside CEO Discussion” sponsored by Sopra Banking Software. Industry leaders reviewed the unique year of 2020 and what lessons we can take away, as well as the challenges and opportunities for 2021. They gave insights on how their companies shifted quickly to a work from home environment, how the Biden Administration will affect the auto industry, and what changes they are making as the social justice movement is evolving.
Recordings of the conference will be available for attendees on the conference streaming site next week.
February 26th, 2021 by gmcgurn@afsamail.org
