The Sooner, the Better: How Risk Scoring Became a Powerful Pre-Repo Tool DRN data has long been used in collections and repossessions to find more vehicles faster. We believed this data could be just as powerful for lenders as they scored loans and considered when to assign a vehicle for repossession. Our idea: use DRN’s vehicle location data and analytics to assess risk and influence decisioning after origination and before repossession. Lenders use traditional attributes such as missed payments, numbers of loan extensions and FICO score trends in their behavior and repo scoring models to determine when a vehicle should
DRN and Vigilant Solutions Commit to Serving Veterans Veteran’s Day first began as Armistice Day in 1919 to mark the end of World War I. Since 1926, after the passing of a resolution from Congress, we began to celebrate the holiday as what it is now – Veteran’s Day. VaaS
Even with our strong economy, delinquencies remain an issue despite seeing high prime and subprime recoveries. Still, increased vehicle demand does not equal increased profit. Solution: Throw Data at it. Lots of it. Longer loan terms driven by higher vehicle prices and loan payments present a challenge. You can’t afford
Digital Recognition Network’s New FinTech Client Services Unit Helps Clients Be More Strategic and Demonstrates an Average of 193 Percent Return on Investment for Clients Using DRNsights
Company adds the Client Services Unit, new hires and promotes from within to meet the needs of its fast-growing FinTech Division FORT WORTH, TX – SEPTEMBER 24, 2018 – Digital Recognition Network (DRN), an AI and data analytics company that provides vehicle location data and analytics to auto lenders, insurance
Carriers are losing $29 billion annually in premium losses Currently, every carrier faces the dilemma between gaining new business through quick and easy customer service and writing policies with as little risk as possible. Ideally, this should be a simple process that mitigates risks for the carrier and gives the
Pictures prove extent of commercial use of a personal vehicle Unfortunately, vehicles insured on personal auto policies are used for commercial business purposes at a surprising rate. When that happens, carriers lose out on premium and lose even more when accidents occur because commercial use vehicles carry higher risk.
Alternative data’s impact on the automotive industry is heating up Last month, DRN’s FinTech team attended the first annual Automotive Intelligence Summit (AIS), where we were also a proud sponsor of the event. The conference centered around technology and its effect on the automotive industry, bringing together professionals within the