Credit Acceptance appoints former Amazon AI executive as CTO

Credit Acceptance Corp. on Friday said it has appointed a former Amazon artificial intelligence executive as its new chief technology officer.

The Warren, Michigan-based auto finance company did not disclose the executive’s name in its filing. The appointment follows a strategic push to enhance its use of AI and machine learning in underwriting and customer service processes.

The new CTO, who previously led AI initiatives at Amazon, will oversee technology infrastructure and innovation as Credit Acceptance scales its digital lending platform. The company has not provided a timeline for the executive’s start date or additional details about their background.

Credit Acceptance, which specializes in auto loans for consumers with limited or challenged credit histories, has increasingly relied on data analytics to refine risk assessment and improve operational efficiency. The appointment underscores the company’s focus on leveraging advanced technology to drive growth in a competitive lending market.

Shares of Credit Acceptance were up 0.7% at $935.20 in premarket trading on Friday.