Pagaya teams with automotive fintech company Westlake Financial

Pagaya Technologies has announced a partnership with Westlake Financial, an automotive fintech company with almost $24B in assets under management, originating indirect automotive retail installment contracts through a nationwide network of new and used auto dealers…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. “Pagaya’s credit scoring is very complementary to Westlake’s decisioning model,” stated Chris Urban, SVP of Risk for Westlake Financial. …”In an increasingly competitive credit market, Pagaya is helping our partners approve more loans, thereby helping their dealerships sell more cars and trucks. “We’re 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