KAR Auction Services has rebooted its Openlane upstream digital remarketing platform with data science, A.I., machine learning, and cloud-based technology so it streamlines the experience for buyers and sellers, the company announced.
Openlane now offers private-label upstream programs for more than 40 automotive manufacturers and financial institutions. More than 1 million vehicles were sold on the platform in 2017. KAR purchased the platform in 2011 and sold less than 300,000 vehicles on it in 2012.
"Upstream selling is a critical part of our customers’ remarketing strategies," said Peter Kelly, chief technology officer and president of KAR's digital services group. "So, we have completely reimagined the upstream experience from our core technology to integrated data analytics to a more simplified, intuitive user interface."
Development of the project incorporated capabilities from two of KAR's recent acquisitions, including Drivin and TradeRev. Drivin's targeted seller-buyer matching algorithms can connect upstream vehicles with a curated list of buyers where the greatest demand exists. Openlane will now provide exact VINs that will perform best on their lot.
The platform now uses TradeRev's "H" artificial intelligence engine that helps customers capture consistent and accurate condition report images.
One benefit of this A.I. integration will be a self-inspection technology.
"The TradeRev system learns as data from our inspections and salvage business unit is augmented. A dealer can walk around the vehicle and the system auto-detects images and assigns those images to their appropriate categories — it knows when a tire is captured, or the interior," according to the company.
These improvements will be phased out to Openlane customers as they need them.
More than 300 information technology associates worked to improve the technical infrastructure of Openlane over the past 18 months. The team utilized an agile framework and hybrid cloud approach that integrates advanced cloud technology and specialized in-house development to improve the site, according to a release. Tom Fisher, KAR's chief information officer, oversaw the project.
