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Follow on Google News | New Cloud-based Repossession Software Solution Automates LPR Assignment Management- LPRKloud released by MBSi Capital in partnership with LPR providers DRN, MVTRAC and PRA Location Services-
By: CRIReporter President, MBSi Capital (602) 864-7847 jrhodes@re-pros.com http://mbsicapital.com New Cloud-based Repossession Software Solution Automates LPR Assignment Management - LPRKloud released by MBSi Capital in partnership with LPR providers DRN, MVTRAC and PRA Location Services- PHOENIX, AZ (April 30, 2013) – MBSi Capital, the developers of the iRepo and Re-Pros Assignment Management Solutions, in partnership with LPR providers DRN, MVTRAC and PRA Location Services, LLC, have released LPRKloud, a new cloud-based LPR repossession assignment management software solution. LPRKloud automates the creation and status management of LPR assignments across multiple LPR service providers, normally a costly and labor-intensive process for both financial institutions and LPR service providers, by hosting recovery data in the secure LPRKloud. LPRKloud enables financial institutions that were previously unable to utilize multiple LPR service providers because of high time and cost requirements associated with assignment management to engage multiple LPR providers in their asset recovery efforts. In partnership with DRN, MVTRAC and PRA Location Services, MBSi has leveraged its integration with each service provider to introduce LPRKloud. The use of LPRKloud can result in higher recovery rates and lower management costs for lenders and service providers. “LPRKloud allows all clients to take advantage of technology that was designed for the biggest and most efficient organizations. By exposing assignments to LPR earlier in the cycle, lenders benefit from the “network effect” of DRN’s extensive LPR network plus the impact of the other LPR providers” says Chris Metaxas CEO of Digital Recognition Network. “This technology allows lenders to easily stage their assignments for maximum returns”. “We’re very excited to partner with MBSi and bring this cohesive product to the repossession market,” says MVTRAC president Scott A. Jackson. “LPRKloud enables lenders to implement MVTRAC LPR technology in their recovery assignments with minimal assignment management efforts, saving time and resources to maximize efficiencies and in turn, profit.” “We are excited to be part of MBSI’s LPRKloud solution,” says Andy Robinson, senior vice president of PRA Location Services. “Our depth of experience in the LPR segment, combined with our significant footprint expansion, will give clients more effective results on their LPR assignments.” MBSi President John Rhodes adds, “Our integrations and partnership with DRN, MVTRAC and PRA Location Services has resulted in a very effective cloud-based LPR assignment management solution.” Rhodes continues, “LPRKloud breaks down the barrier to entry for a lot of lenders who want to implement LPR with multiple providers by mitigating the cost of assignment management.” LPRKloud automates assignment creation and status updates across multiple LPR service providers. If an assignment is updated, LPRKloud automatically updates the assignment across all vendors, or removes it entirely from the system if the assignment is closed or recovered. LPRKloud offers significant time and cost savings associated with LPR assignment management across multiple providers. For more information on LPRKloud, please visit LPRKloud.com. ------------------------------------------------------------ About DRN Digital Recognition Network is a data company exclusively focused on data derived from vehicles. By recovering, storing and grouping data on vehicle location, where vehicles go and who drives them, DRN is able to provide value to clients to help them make better, more profitable decisions. An industry pioneer in vehicle asset location technology and services, DRN fuels a national network of more than 550 affiliates employing mobile license plate recognition technology that gathers the data we provide. Because this technology is used in every major metropolitan area in the United States, DRN captures data on up to 50 million vehicles each month. With more than One Billion data points gathered to date, DRN has the largest vehicle location database in existence. We are proud to maintain strict standards for privacy, compliance, and data integrity. For more information about DRN, please visit drndata.com. About MVTRAC About MVTRAC — Home of The Intelligent Data Network™, MVTRAC is a leading provider of on-demand data solutions for auto finance, government and law enforcement organizations. Utilizing a national network of digital recognition technology devices, MVTRAC receives real-time data capture from these systems and archives the intelligence in a centralized database. Recognized as the largest data capture network in the world, MVTRAC continues to grow through partnerships with government agencies and third-party camera owners at traffic lights, tollbooths, airports, major transportation hubs, security centers and retail/commercial parking lots to create. For more information about MVTRAC, please visit mvtrac.com. About PRA Location Services PRA Location Services is an industry leader in License Plate Recognition (LPR) technology. Led by its RecoveryNet program, the company’s fleet of cars canvasses major metropolitan cities across the United States, utilizing state-of-the- About MBSi Capital MBSi Capital Corp. was formed in 2003 to provide the repossession service industry with cost effective, easy-to-use repossession software solutions that maximize the return on technology investments. For more information on MBSi Capital, please visit mbsicapital.com. End
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