Since overhauling its online platform in April, Washington State Employees Credit Union (WSECU) members have reported a boost in user satisfaction.

“We do surveys of our members that have taken out loans and of members that have applied online, and we’re seeing that 90% of them are rating it as a low-effort experience,” said Ryan Brooks, director of digital lending at WSECU. “We have started to see our members tick up in their satisfaction around what they’re doing online.”

Prior to the site’s redesign, the Olympia, Wash.-based lender relied on third-party vendors to generate its digital presence. About three years ago, though, Brooks and his team changed the way they looked at the online member experience. “We really wanted our members to know more about us than just our name and the color palette,” he said.

Since then, WSECU brought many of its digital operations in-house to standardize the aesthetic and functionality across products and between devices. “Our lending experience and our website and our online banking all started to have the same look and feel, all the way down to behaviors,” Brooks said.

“If you have 50 different vendor solutions, the navigation bar is never going to be in the same place, so little things like that where our progress bars are consistent, the primary calls to action are consistent, the secondary calls to action are consistent,” he explained. “You start to build those patterns with members so that when they go into an experience that I believe has a lot of anxiety around it — like in lending — and it’s not a new experience.”

Since the April launch, WSECU has built workflows and processes around the core platform, Brooks said. One example is the preapproval workflow implemented in June. “It basically pops up and says, ‘Hey, you’re preapproved for this product. If you’d like to accept this, click here,’ and it bypasses all the application process that the member would normally have to go through,” he said.

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Porsche Financial Services has expanded its car insurance coverage to include services related to electric mobility, the company announced. The service, called “E-Cover,” was designed to supplement the upcoming release of the Porsche Taycan Turbo, the German automaker’s first all-electric vehicle.

Consumers in Germany will be able to add coverage to an existing insurance policy that is specifically designed for electric vehicles, including original price coverage of the battery in the event of damage, charging station insurance and protection for e-mobility-specific components, such as the electric outlet.

E-Cover is also available for the plug-in hybrid models of the Cayenne and Panamera models.

Read more: Porsche Financial Services Pilots Auto Insurance Program

The all-wheel drive Taycan Turbo and Taycan Turbo S models are set to debut in 2020. The four-door coupe will reach 62 mph in 2.8 seconds and will boast a 350-mile range with system voltage of 800 volts — double the standard on electric vehicles in production.

In addition, the Taycan will be able to charge to 80% in just over five minutes if connected to a high-powered charging station that uses a direct current. Porsche plans to release “less powerful variants” of the Taycan later in the year and invest more than $6.7 billion in electric mobility by 2022, according to a company release.

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A federal judge has ruled in favor of Nissan Motor Acceptance Corp. after it was determined a used-car dealership defrauded the captive on its floorplan loan by selling vehicles out of trust.

Helena, Mont.-based Robert Allen Nissan owes NMAC $2.5 million, plus attorneys fees and costs incurred by NMAC to date, according to a Nov. 5 filing with the U.S. District Court of Montana, Helena Division.

NMAC has initiated the process of collecting and disposing of the 90 vehicles in question — valued at $2.8 million — per a court order in July. The remarketing sales proceeds, minus expenses and costs, will be applied to the outstanding balance owed by Robert Allen Nissan, the documents noted.

According to a Feb. 22 complaint filed by NMAC, the dealership sold vehicles out of trust for months by keeping the proceeds – totaling $795,584 for 25 vehicles – and failing to pay them to NMAC.

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Carvana’s originations hit $1.9 billion in the third quarter, a 115% year-over-year increase.

Third-quarter revenue increased 105% to $1.1 billion, marking the used-car retailer’s 23^rd straight quarter of triple-digit revenue growth. Carvana sold 46,413 retail units, up 83% from the prior-year period.

The business of buying cars from customers, an area of focus for the Tempe, Ariz.-based company, shot up 249% year over year. “Growth in vehicles acquired from customers also fed our retail inventory, diversifying our selection and improving acquisition prices,” Chief Executive Ernie Garcia noted in a letter to shareholders. Overall, 31% of retail units sold were sourced from customers, up from 16% in the prior-year period.

The car-buying operation is “nearly 70% as large as our core business in transaction volume,” Garcia noted, adding that the growth of the business “exceeded our expectations, which led to some operational constraints and required additional investments.”

To that end, Garcia revealed that Ally Financial increased Carvana’s floorplan line of credit last quarter to $950 million from $650 million. The boost added “significant flexibility to expand [Carvana’s] inventory selection and buy more cars from customers,” he added.

Meanwhile, Carvana continues to expand geographically, opening in nine markets last quarter and bringing its total to 146 markets. The lender also built four vehicle vending machines, for a total of 22.

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