Introduction License Plate Recognition (LPR)marketing is gaining traction in helping businesses, especially when it comes to lead generation and helping them expand their customer base. LPR is a revolutionary piece of technology that utilizes optical character recognition and image processing to read, and decipher vehicle license plate information. This data is captured with high-resolution fixed or mobile cameras that use our intelligent analytics to analyze images and extract license plate data. How it works Capture: Digital Recognition Network’s (DRN) high-powered fixed LPR cameras, L5F and L6Q, capture license plates from passing vehicles that pass by your location, identifying potential leads
Successful completion of auto recalls is critical to the safety of consumers and the ongoing health of the auto industry. Recalls are a complicated process, with complex challenges including locating vehicles and owners, communicating with them effectively, and motivating owners to complete needed repairs. The key to solving these challenges
I was happy to be part of a panel discussion – in person! – at the Receivables Management Association International (RMAI) Conference in April in Las Vegas. I was joined by attorney Daniel Consuegra and Shannon Rodden of Premier Forty Financial to discuss the current automotive finance landscape. By far,
While many parts of the auto industry are considered essential and have operated throughout the pandemic, there have been obvious and severe impacts to everything from manufacturing to lending to insurance to data collection. In addition, Covid-19 has caused the industry to reframe how we think and communicate about safety
Related to the challenge of effectively communicating with vehicle owners, another obstacle for recall completion lies with convincing owners to complete the needed repairs. Why? Our panel of experts cited a few reasons: Lack of trust: Owners may not believe a repair is really necessary if they don’t know or
To understand LPR staging, it’s best to look at repossession assignments as two different types (active and passive). An active assignment is a typical assignment a lender would give to a repossession vendor. The repossession vendor is actively looking for the vehicle based on location data provided by the lender.
As DRN’s License Plate Recognition (LPR) technology has advanced over the last several years, so has the need for lenders to access and use more data than ever before. DRN began introducing LPR into the repo industry in 2008 by launching what is known today as “Live Pick Up”. This
Once a valid owner and address have been confirmed, the next challenge comes with making successful contact with the individual. Beyond traditional methods of mailed notices and even phone calls, innovative, multi-channel strategies are needed to reach owners and encourage them to take action. One industry expert said, “Having a
Finding Vehicle Owners A number of factors present challenges when it comes to completing a repair on a recalled vehicle part. One of the greatest ones lies with the seemingly basic step of locating the vehicle. Why is this so difficult? Address data decays at a rate of 2% a
DRN’s Virtual Showcase in October 2020 brought together leaders from across the vehicle financing industry to discuss various issues and trends affecting their businesses, including both short- and long-term impacts of the COVID-19 pandemic. We focused time on credit unions with several representatives of that industry and other finance experts.
In October last year, we hosted our first-ever DRN Virtual Showcase, which brought together experts from across the auto recall industry to discuss how effective and creative use of data and communication can improve auto recall completion rates. Our panelists included: Angel Preston – Formerly Director, Safety, Alliance for Automotive
Questions 1. What makes you proud to work at DRN? I love how much we support each other. We work together as a team and we are able to get many different perspectives on everything we do. It really contributes to our team’s successes and enables us to help our
DRN held its first-ever Virtual Showcase in October 2020, hosting experts from various segments of the auto industry. Part of the agenda focused on repossession. We hosted a number of our Affiliates as well as several industry leaders to discuss the state of the repo industry coming out of the