Capital One’s focus on digital tools and dealer relationships contributed to increased auto originations in the first quarter as the lender looks to keep pace with industry competition.

Auto originations increased 20% sequentially and 33% year over year to $11.7 billion, driving overall growth in the bank’s consumer banking business, according to the earnings supplement. Outstandings clocked in at $78.6 billion, an increase of 4% sequentially and 17% YoY.

“Our digital capabilities and deep dealer relationship strategy continued to drive year-over-year growth in our auto business,” Chief Executive Richard Fairbank said Tuesday during the bank’s earnings call, noting the growth is in part due to the $434.2 billion Capital One‘s Auto Navigator tool, which allows car shoppers to pre-qualify for financing without affecting their credit score — similar to soft credit pulls seen in buy now pay later (BNPL) financing.

Fairbank also pointed to expansion in products and marketing channels for Capital One’s branded card business, where he said the bank has been able to leverage more data and machine learning models to build customized retail solutions. Net revenue for the quarter from the bank’s credit card business was $5.3 billion, up 20% from $4.4 billion in Q1 2021.

“It’s all about working backwards from what wins with customers,” Fairbank said on the call.

Fintechs, including those offering tech platforms that financial institutions can build upon, are driving banks to develop their technology faster, he previously noted. “The ability to enter businesses and move quickly and have modern technology is really striking,” the CEO said during Capital One’s Q4 2021 earnings call.

During this week’s call, he characterized investment in fintechs as “breathtaking” and said the fintech-financial institution competition for tech talent is a “fierce arms race.”

The bank does not break out tech spend, but includes in its earnings report “data and processing,” which this quarter totaled $339 million, up 12% YoY from $302 million. Technology costs may also be included in “occupancy and equipment” expenses, which for Q1 were $513 million, a 9% YoY increase.

Capital One reported Q1 net income of $2.4 billion, down 27% YoY from $3.3 billion. Net revenue for the quarter was $8.2 billion, up 15% YoY.

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