DRN’s License Plate Recognition (LPR) data is now added and compared to other public records data in masterQueue’s dashboard to help lenders better determine the chance for positive collection or recovery resolution
LA QUINTA, CA 11/13/2017 – Digital Recognition Network (DRN) and Intellaegis, Inc. dba “masterQueue” announced today at the annual Used Car Week Auto Finance Conference that DRN’s vehicle location data has been added to the masterQueue platform for lenders that have adopted the DRNsights Enterprise data solution, and is helping them to drastically reduce losses and make right party contact.
DRN’s vehicle location data is gathered from nationwide license plate recognition (LPR) sightings, 24/7, 365 days a year. The LPR data includes the date, time and location of each sighting. Now, this data will be added and compared to other public records information inside the masterQueue platform. Merging multiple data sources helps lenders better determine the chance for positive collection or recovery resolution.
“masterQueue adds value to DRN’s LPR data by automating the gathering process, then merging and scoring it with other public records information. This can result in a higher masterQueue ‘Findex’ score when key, unique DRN data is delivered to our platform. Simply put, this allows users to focus on the most relevant LPR data first. The Findex score helps lenders determine the probability of locating a customer they’ve lost touch with, or of repossessing their collateral if collecting the debt is no longer an option. The value driven from DRN’s historical data adds new insights to make more right party contacts or to locate more lost assets – insights that you can only get from the type of high-quality LPR data DRN delivers in masterQueue,” said John Lewis, President and Founder of masterQueue.
As part of the integration, DRN’s data has been added to the masterQueue automated workflow to alert users of which LPR data to look at first. For example, if the customer’s address of record and public records data shows the customer living in Florida, but the LPR data shows the vehicle is in Texas; this unique data allows the lender to make a more informed decision on what the most appropriate next step should be.
“The integration of our data into masterQueue for DRNsights Enterprise customers makes our data more readily available to collectors. When you add our vehicle location data to masterQueue’s other data sources and automated workflow, you get improved resolution rates and can make more right party contact. Together, we help auto lenders reduce loss and better manage risk,” said Jeremiah Wheeler, Vice President of Financial Services at DRN.
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- DRN Vehicle Recovery Hotlist Hits All-Time High of 300,000 License Plate Recognition (LPR) Assignments, Asset Value of Vehicles Recovered Exceeds Eight Billion Dollars - November 20, 2017
- masterQueue Adds Vehicle Location Data from DRN, Providing Auto Lenders More Actionable Insights for Collections and Recoveries - November 13, 2017