The Auto Finance News team is pleased to announce that Capital One President of Financial Services Sanjiv Yajnik will join Auto Finance Summit 2024 for a fireside chat on Tuesday, Oct. 9, at 9:15 a.m. PST.
The 24th annual Auto Finance Summit provides an array of valuable learning opportunities for industry leaders that includes panel discussions and presentations, workshops and the Women in Auto Finance luncheon in addition to networking opportunities with industry leaders.
Event content will span a range of trending topics with a focus on continued supply chain constraints, rising used-vehicle values and interest rates and increased cost of funds.
The full agenda for the summit is available here.
Yajnik will discuss the bank’s innovative use of technology in promoting growth for its auto business in a fireside chat with Auto Finance News.
In his current role since 2009, Yajnik joined Capital One in 1998 as a director of risk management and later served as senior vice president, head of Capital One Canada and Capital One Small Business Card; executive VP and principal managing director for Capital One Europe; and president, Capital One Auto Finance, among other roles.
He has helped develop several patented technologies, including the award-winning Auto Navigator product in 2015. The financial costs of investing in new technologies are high, but the reward is higher, Yajnik told AFN earlier this year. “We want to make [tech] available, not only to a customer, but also to us.”
Capital One’s auto originations grew in the first quarter following several quarters of year-over-year declines. Originations totaled $7.5 billion, up 22.2% quarter over quarter and 21.1% YoY, according to the bank’s earnings supplement published April 25.
Recent originations have outperformed some of the bank’s pre-pandemic originations, Capital One Chief Executive Richard Fairbank said.
“Our years of investments in industry-leading technology and credit infrastructure have allowed us to remain nimble and enabled us to make targeted adjustments to our origination strategies where we see opportunities for growth or emerging risks,” Fairbank said.
Auto outstandings fell 0.4% QoQ and 3.7% YoY to $73.8 billion, according to the supplement.
Early Bird Registration is now available for Auto Finance Summit 2024, Oct. 7-9, at the Wynn in Las Vegas, where lenders, dealers and fintech innovators will gather for an event designed to bring the power of technology to a cross-section of industry players. Visit AutoFinance.Live to learn more
Source : AutoFinanceNews
