Recovery Database Network (RDN) Now Offering DRN’s Address Scoring Solution
Embedding DRN’s Address Scoring Improves Lenders’ Auto Recovery Outcomes
FORT WORTH, TX 4/22/2015 – Digital Recognition Network (DRN) (www.drndata.com) and Recovery Database Network, Inc. (RDN) announced that RDN has embedded DRN’s Address Scoring solution into their asset recovery management platform. Embedding Address Scoring into RDN gives lenders valuable information earlier in the auto recovery lifecycle enabling lenders to make better decisions.
“We are excited to offer DRN’s Address Scoring to our customers—further strengthening our commitment to provide one of the best auto recovery systems on the market,” said RDN President Zach Hallowell. “Our clients have seen significant improvements in recovery rates by using DRN’s vehicle location data, and the addition of Address Scoring extends the value of this data even further. Giving RDN customers access to the DRN address score, which indicates the likelihood a vehicle is near the given address provides better decision making and more positive recovery results.”
Address Scoring is the continuation of DRN’s strategy to provide the best data and analytics for auto recovery based on DRN’s unique vehicle location data. Combining vehicle location data with analytics give clients a score that helps determine whether a given address vicinity is likely “good” or “bad” for recovery assignment. Cases in RDN will be automatically processed and the Address Score will be displayed next to each address within the case. For lenders, knowing the best address helps them determine where to send recovery agents and increases positive outcomes.
“Embedding Address Scoring in RDN makes it easy for lenders to reap the benefits of Address Scoring without having to login to a new system. This further extends the benefits of DRN’s solutions like Smart Recovery that provide a 14% lift of auto recoveries for lenders. Address Scoring improves recovery rates, reduces skip costs, improves time to repossession and helps to avoid close fees, enabling lenders to reduce risk and write more loans. It’s just another way DRN’s powerful, unique location data helps to drive results for the auto recovery industry,” said Chris Metaxas, Chief Executive Officer at DRN.
Address Scoring is available as a stand-alone offering or combined with Smart Recovery through RDN. Special pricing is available to RDN users that want both Smart Recovery and Address Scoring.
About DRN
DRN is a leading provider of data and analytics to the Financial Services, Insurance and Asset Recovery industries. Our solutions enable our clients to more effectively optimize their portfolios, reduce losses, detect fraud, and manage risk. An industry pioneer in vehicle location data and license plate recognition technology and services, DRN covers every major metropolitan area in the United States and maintains the largest vehicle location database under strict standards of privacy, compliance, and data integrity. To find out more, contact hford@drndata.com, visit us online at www.drndata.com, or call us at (817) 877-0077.
