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Lender Roundtable Offers Insights on Lenders’ Use of LPR Data

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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 broader culture – continue to manage through the Covid-19 pandemic.

Topics included: best practices for leveraging DRN Data, the evolution into one LPR Network, bundled solutions, LPR Staging, Risk Scoring, and DRN’s 2021 Data Access Model.  We spent a significant amount of time discussing the full suite of DRN products and how they can be applied throughout the entire loan life-cycle versus just repossession. We also talked about migration studies and how lenders have used this data through Covid-19 to increase contact rates with customers and make better data-driven operational decisions.

We also discussed how LPR data can improve the impound notice process. Lenders were interested in bundled solutions from DRN to bring together bankruptcy notifications, Risk Scoring and Portfolio Monitoring.

We closed the roundtable by taking the group through a hands-on demo of DRNsights and our Data Access Model.

This discussion was a great opportunity to bring auto lending thought leaders together to share knowledge and insights while brainstorming solutions for the future. We look forward to making this event an annual experience for our auto lending partners.

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