Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee




Posted January 11, 2021

In response to the skyrocketing digital wholesale marketplace where seeing is believing, Cox Automotive is continuing its investment strategy. This latest investment is to accelerate the digital buying and selling experience, bringing it closer to a live interaction. With Fyusion, Manheim enables dealers to take advantage of 360-degree interactive viewing capability, which is integrated into the Manheim Express app. Fyusion and Manheim also are planning future innovations that will bring more artificial intelligence (AI) and improved objectivity to condition reports. Dealers and consignors will benefit from increased confidence in their ability to make informed decisions, buy and sell vehicles faster and maximize profits.

“Dealers tell us that high quality imaging is a key factor in continuing to drive digital adoption,” said Grace Huang, president of Manheim. “We are continuing to invest in delivering the industry’s best 3D imaging and merchandising experience, allowing sellers to better market their vehicles digitally and buyers to purchase with greater peace of mind.”

The timing of the investment is ideal as demand for the buying and selling of vehicles through digital channels continues to grow. In 2018, more than two million vehicles were sold to digital buyers in the Manheim Marketplace. Going forward, Manheim and Fyusion plan to develop innovative capabilities for inside- and outside-the-gate applications.

“Cox Automotive plays a critical role in making the car-buying process easier in the wholesale and retail marketplaces,” said Radu Rusu, CEO and co-founder of San Francisco-based Fyusion. “We look forward to continuing to work together as Manheim works to give dealers advanced imaging capabilities that help them take full advantage of digital channels to reach more buyers and close more sales.”

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