Pagaya & Westlake Financial partner to strengthen automotive credit decisions
By Delisha Fernandes
Pagaya Technologies, a company delivering artificial intelligence infrastructure for the financial ecosystem, has partnered with Westlake Financial, an automotive FinTech company.
By tapping into Pagaya’s innovative tech-enabled credit-analysis platform, the partnership with Westlake will facilitate smarter, more empowered credit decisions that will elevate the car-buying experience, creating more loans for more customers.
“In an increasingly competitive credit market, Pagaya is helping our partners approve more loans, thereby helping their dealerships sell more cars and trucks. We are proud to be strengthening our relationship with the incredible Westlake Financial team as we grow our auto business,” said Gal Krubiner, co-Founder and CEO of Pagaya. “Through this expansive partnership, our tech-enabled, two-sided lending network will integrate with the thousands of Westlake dealers and dealer groups, accelerating the growth of our auto product and our presence in auto dealerships across the country.”
Through the collaboration, Pagaya’s auto partners can take credit decisions quicker and more accurately, expanding their existing product offering while improving the customer experience, and ultimately converting more car purchases. Additionally Pagaya’s fully pre-funded model allows its auto financing partners to approve more loans without using their own balance sheets
“We are excited to be leveraging Pagaya across more of our dealerships, optimizing the financing experience for car buyers,” said Don Hankey, Chairman of the Board of Hankey Group, the parent group of Westlake Financial. “Pagaya’s AI technology and two-sided lending network allows us to unlock new opportunities for our team and facilitate seamless transactions, ultimately helping our dealers sell more, and our customers get approved faster.”
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