Hotlist Growth Reflects Confidence in DRN’s Provider and Affiliate Network
FORT WORTH, TX 1/23/2018 – Digital Recognition Network (DRN) announces today that the company’s active hotlist hit an all-time high of 360,000 License Plate Recognition (LPR) assignments. DRN also reports that in 2017 the company’s providers recovered collateral totaling a record $2 billion in asset value for lenders.
In November 2017, DRN announced the hotlist had exceeded 300,000. Hotlist growth continued through the end of 2017 and into 2018, as more lenders turned to DRN’s provider and affiliate network for asset recovery. Closing out a record year in 2017, affiliates captured 1.7 billion scans and recovered over 165,000 vehicles.
“Over 85% of the nation’s largest lenders use our live pick-up providers to mitigate risk and curb charge-off losses. That confidence in our data and our network, coupled with continued growth of auto lending portfolios, has once again driven our hotlist numbers to new highs. As a result, our affiliates see the value of this self-fueling network model – the more they scan, the more vehicles they recover. As we enter 2018, we look forward to delivering more value to the entire network of lenders, providers and affiliates and to setting new records,” said Todd Hodnett, Founder and Executive Chairman of DRN.