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Collateral Management Systems: The Next Generation
The latest collateral management systems reduce time and eliminate roadblocks for collectors by incorporating global positioning and cellular technologies, according to a Spireon white paper, “Collateral Management Systems: The Benefits of Deploying for Vehicle Finance.”
These technologies allow users to get information in real time and find the location and movement of assets 24/7. Plus, lenders can use these systems to remind customers that their payments are past due via a warning signal located in the vehicle or with automated text alerts.
Other elements for a state-of-the art collateral management system include:
Spireon’s LoanPlus collateral management system helps auto lenders improve loan portfolio performance, price loans more competitively, and improve collections efforts. Visit spireon.com for more information.