A $26 million settlement by Santander Consumer is shining a light on the hard-to-measure problem of auto dealer fraud, while also raising questions about the adequacy of lenders' efforts to combat bad behavior.
In today’s fast-paced world, the expectation often is that everything happens instantaneously. Consider banking, where customers typically expect immediate action on payment transactions and funds transfers from their accounts. In many countries including the UK, Singapore, Nigeria, Poland, Mexico and Sweden, near-instantaneous banking is indeed possible. But it is not possible in the US, where payments are still cleared in the traditional way—once a day, usually overnight—resulting in delays of one or two business days for transferring funds.Making payments and funds transfers happen in a more immediate timeframe, however, has a great business value both for the customers who use the service and for the financial institutions that provide the service. Read this white paper to learn more.