Repo Remarketing Announces Alliance with Digital Recognition Network (DRN)
CITRUS HEIGHTS, CA – December 14, 2010 -The fastest growing success story in the repossession industry is in License Plate Recognition (LPR) 2.0 technology. Repo Remarketing, the nation’s leading provider of recovery and liquidation solutions for Credit Unions, saw the need for a strategic partner solution that would broaden and add depth to the repossession scope for its clients. After an extensive evaluation process, Repo Remarketing is pleased to announce that it has joined forces with Digital Recovery Network (DRN), the industry leader in LPR services.
DRN recently deployed their 2.0 Platform -live 24/7 monitoring and with the partnership, Credit Unions can submit all charged off accounts at no charge and when there is a hit, it can be recovered immediately. This platform requires 24/7 monitoring and with the Repo Remarketing solution, is a sure fit to return lost dollars to the credit union bottom line.
To achieve the highest recovery rates on repossessions, good information drives good decisions and technology drives good information. Claudia Plascencia, Vice President of Sales and Operations at Repo Remarketing reminds us that higher recovery rates can mean the collateral can be sold and the return posted to the deficiency balance more quickly, reducing the overall outstanding delinquency balances.
In a recent interview, Lance Gartner, Founder and CEO of Repo Remarketing was quoted as saying, ‘We are always excited to provide new and emerging technologies that will benefit our Credit Union family. The partnership with DRN allows us to provide a new service that will allow credit unions to recover money previously left in the “charge off bucket”.’
DRN’s innovative technology and software links 1500+ cameras, scanning over 23 million license plates a month into a system designed to locate vehicles and pick-up in real time. Through this alliance, credit union partners will be able to use DRN’s state-of-the-art technology through Repo Remarketing’s easy to use assignment portal. Once located, Repo Remarketing’s 24/7 staff will monitor and assure that the vehicle is secured and transported immediately. Ground breaking pricing – one flat fee is guaranteed – no recovery, no payment.
Just think of the possibilities – not only to active repossessions, but what about all of the units that have been charged off in recent years? This technology can prove to be an invaluable aid in locating units that were previously non-recoverable through normal repossession channels and traditional skip tracing techniques.
Cort DeHart, President of DRN remarks that ‘Repo Remarketing has embraced forward-thinking changes that will allow us to raise the level of service we can provide to our clients and facilitate long-term growth opportunities…’
About Repo Remarketing Repo Remarketing was founded in 1998. With Repo Remarketing, the power of aggregation brings Credit Unions together under one umbrella, nationwide. Services include: recovery, remarketing, transportation, inspection, valuation, and all post sale reporting. Repo Remarketing provides a trustworthy bridge to recover and liquidate inventory efficiently using proven industry standard principals with advanced technology, adapted expressly for Credit Unions. For more information www.reporemarketing.com or call Claudia Plascencia at (916) 725-270 8×105.
About Digital Recognition Network Digital Recognition Network (DRN) was incorporated in 2008 and is an asset location company that combines proprietary license plate recognition (LPR) technology, a national network of LPR camera-equipped vehicles, and integration with repossession software companies to create an asset location solution designed specifically for automotive lenders, insurers, and recovery agents. For more information www.digitalrecognition.net or call 817 877 0077
Article written by Dorothy Drake, Business Development Consultant, 775 348 7713 firstname.lastname@example.org