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Pre-Repo Risk Scoring is a Win-Win for Lenders & Borrowers

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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 into their behavioral scoring model to help them make better decisions on if and when to repossess vehicles. We started by looking at a handful of accounts that were nearing repo stage and saw that some had very consistent license plate scans. This makes those vehicles easy to find and in some cases, meant this lender  could easily contact the borrower and secure payments or create payment arrangements. This is always a better outcome than repo – the borrower stays in their car and the lender receives its payments and avoids a costly repossession.

We’re now working with this client’s  Data Science team to operationalize DRN data into its models and scoring processes. Their success has already shown that vehicle location data should be part of their own – and any lender’s – decision-making model.

Want to see how Risk Scoring can be a winner for your business? Contact us at info@drndata.com for more information or a demonstration.