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Subprime Auto Loan Market Holds Promise

But be careful and don’t stray too far from your current membership base.

November 23, 2012
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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.

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