The buy here pay here (BHPH) market has traditionally relied on GPS to find vehicles with defaulted loans. Unfortunately, it’s become relatively easy for borrowers to tamper with or disengage GPS systems, making them only somewhat effective in tracking down vehicles. This is where license plate recognition (LPR) technology comes
Partnership History: Premier Members Credit Union, based in Boulder, Colorado, began its partnership with DRN in 2017 after hearing success stories from other lenders. DRN’s Location Alerts tool quickly became an important piece in PMCU’s vehicle repossession process and one they relied on heavily as they expanded into other states.
License plate recognition (LPR) technology has been an important tool for the auto finance industry for decades, helping lending, collection, repossession, and insurance professionals track down vehicles and owners. DRN pioneered the unique combination of LPR data paired with powerful analytics to build full vehicle stories to help solve lending,
More than 300 enterprise lenders nationwide are using DRN’s Historical Data to lower their charge-offs and increase their recovery rates. If you’re looking to do the same, why not give it a try? DRN collects more than 220 million vehicle license plate scans every month, covering two-thirds of the U.S.
All DRN clients receive training on the DRNsights suite when they begin using our platform. This includes both how-to’s for Address Scoring, Location Reports, Location Alerts and Loss Alerts, but also demos of and education about what these products can do for their business. We also offer ongoing training as
One of our most innovative clients is a large, Dallas-Fort Worth, Texas-based subprime lender that began using DRNsights in 2019 as part of their collections and repossession processes. They achieved a significant uptick in overall recovery rates because the DRNsights vehicle location data was being taken into consideration at the
DRN and MVTrac have joined forces to offer lenders a compliance-focused, automated platform that uses the richest LPR data set in the nation while leveraging the largest network of agents of any vendor in the U.S. In an Auto Remarketing webinar, Brad Davis, and Naz Akel of MVTrac, presented an
In October, DRN hosted a golf tournament for lenders at Whistling Straits in Kohler, Wisconsin. The event brought auto lenders together to network, share best practices and learn more about DRN. This year’s event included a roundtable where lenders discussed challenges they’re currently facing as the economy – and our
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
One of DRN’s first enterprise clients was a large automotive captive finance company. They were long-time users of DRNsights’ vehicle location data in their repossession processes but wanted to brainstorm how they might use it pre-repo to make better repo decisions. We partnered with this client to pull DRN data
The buy here pay here (BHPH) market has traditionally relied on GPS to find vehicles with defaulted loans. Unfortunately, it’s become relatively easy for borrowers to tamper with or disengage GPS systems, making them only somewhat effective in tracking down vehicles. This is where license plate recognition (LPR) technology comes
Partnership History: Premier Members Credit Union, based in Boulder, Colorado, began its partnership with DRN in 2017 after hearing success stories from other lenders. DRN’s Location Alerts tool quickly became an important piece in PMCU’s vehicle repossession process and one they relied on heavily as they expanded into other states.
License plate recognition (LPR) technology has been an important tool for the auto finance industry for decades, helping lending, collection, repossession, and insurance professionals track down vehicles and owners. DRN pioneered the unique combination of LPR data paired with powerful analytics to build full vehicle stories to help solve lending,
More than 300 enterprise lenders nationwide are using DRN’s Historical Data to lower their charge-offs and increase their recovery rates. If you’re looking to do the same, why not give it a try? DRN collects more than 220 million vehicle license plate scans every month, covering two-thirds of the U.S.
All DRN clients receive training on the DRNsights suite when they begin using our platform. This includes both how-to’s for Address Scoring, Location Reports, Location Alerts and Loss Alerts, but also demos of and education about what these products can do for their business. We also offer ongoing training as
One of our most innovative clients is a large, Dallas-Fort Worth, Texas-based subprime lender that began using DRNsights in 2019 as part of their collections and repossession processes. They achieved a significant uptick in overall recovery rates because the DRNsights vehicle location data was being taken into consideration at the
DRN and MVTrac have joined forces to offer lenders a compliance-focused, automated platform that uses the richest LPR data set in the nation while leveraging the largest network of agents of any vendor in the U.S. In an Auto Remarketing webinar, Brad Davis, and Naz Akel of MVTrac, presented an
In October, DRN hosted a golf tournament for lenders at Whistling Straits in Kohler, Wisconsin. The event brought auto lenders together to network, share best practices and learn more about DRN. This year’s event included a roundtable where lenders discussed challenges they’re currently facing as the economy – and our
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
One of DRN’s first enterprise clients was a large automotive captive finance company. They were long-time users of DRNsights’ vehicle location data in their repossession processes but wanted to brainstorm how they might use it pre-repo to make better repo decisions. We partnered with this client to pull DRN data