FOR IMMEDIATE RELEASE (January 2024):
Los Angeles, CA. Nowlake and Salient announce strategic partnership to revolutionize the Auto Finance Industry
Nowlake, a Fintech Organization incorporating the philosophy of Westlake and Nowcom, is partnering with Salient to bring generative AI into the Westlake world. As the market leader in voice technology, Salient was designed specifically for the needs of the automotive finance industry. This collaboration will help improve the communication gateway with our customers and our Dealers.
Jay Kamdar, the President of Nowcom, shares insightful thoughts on the partnership with Salient: “This alliance marks a crucial turning point in the auto finance industry, leading us towards a transformative future. Having consistently ranked among the top companies in finance and technology in the auto industry, it is imperative that we continue setting exemplary standards. The incorporation of Salient’s cutting-edge AI technology is poised to elevate our success even further, empowering us to support our dealers and clients at an unprecedented level. The impact will not only be felt internally through streamlined processes but will also manifest in accelerated client assistance, thanks to the meticulously designed automated workflows tailored specifically for the automotive industry by our partner, Salient.”
They aren’t merely paving the path; they’re defining excellence in generative AI.” says Michael Wang, our Senior VP of Information Technology. “Salient is a young and unique company. Not only have they been pioneers in voice AI, but they’re also the trailblazers who brought generative AI to production, addressing real-world use cases. Their enthusiasm for voice AI in the auto industry goes beyond just the technical aspects; it’s about transforming the way our customers engage with the digital realm.” Michael Wang finishes by saying: “We’re thrilled to have Salient as an integral part of our contact center technology.”
Nowlake’s partnership with Salient will begin by incorporating generative AI into our customer/dealer platforms as well as other operational-focused areas to help automate key processes and build efficiency through streamlining. This, in turn, will empower us to dedicate more attention to curating improved deals for our valued customers. The collaboration will provide invaluable support to our various departments and dedicated staff members, by eliminating redundant processes across different areas, thereby enabling them to concentrate on optimizing their core tasks. Consequently, this initiative will extend our ability to provide assistance to our loyal clients and customers beyond regular business hours.
About Salient: Designed specifically for the automotive finance sector, Salient is a cutting-edge generative AI platform crafted to revolutionize customer-lender interactions. With its innovative technology solutions, Salient seamlessly automates vital operational processes across voice, text, and email channels, delivering a more streamlined and efficient communication experience for clients. Launched in 2023, Salient is backed by top tier venture capital firms, including Y Combinator, Matrix Partners, and General Catalyst, alongside leaders from Tesla, Stripe, and Airtable. This platform promises to set new standards in the way automotive finance is approached and managed.
About Westlake Technology Holdings: Westlake Technology Holdings is an auto and finance technology company headquartered in Los Angeles, CA with approximately $24 billion in assets under management. Westlake Financial (“Westlake”) originates indirect automotive retail installment contracts through a nationwide network of new and used automotive and power sports dealers. Westlake also offers credit facilities and commercial real estate loans through Westlake Capital Finance (WCF); portfolio servicing through Westlake Portfolio Management (WPM); floor plan lines of credit are provided through its Westlake Flooring Services division, www.WestlakeFlooringServices.com; shared cash flow auto lending through Westlake’s wholly-owned subsidiary, Western Funding Inc., a Nevada based auto lender; indirect automotive leasing for credit unions through Westlake’s subsidiary, Credit Union Leasing of America (CULA); dealer leads and direct-to-consumer auto loans are offered through Westlake Direct; consumer installment loans are offered through Westlake’s wholly-owned subsidiary LoanCenter, www.loancenter.com; and commercial real estate lending is offered through Westlake Capital Finance.
About Nowcom Corporation: Nowcom is a dynamic player in the tech industry, focusing on developing sophisticated solutions for both the automotive and financial sectors. Our expertise extends to delivering tailor-made software for dealers and finance companies, including DMS and CRM systems, dealer websites, online marketing tools, as well as loan origination and servicing platforms. Our flagship product, DealerCenter, offers a comprehensive, cloud-based Dealer Management System (DMS), designed specifically for independent car dealers. We have also developed a groundbreaking, fully automated finance decision engine, a key feature of our consumer facing online car shopping website, Carzing.com. Complementing our technological offerings, Nowcom also excels in operational support, running a comprehensive contact center that efficiently manages a spectrum of services from customer support and debt collection to seamless back-office functions. www.nowcom.com
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