ALS | Resolvion, a leading provider of collateral recovery services to commercial lenders, today announced the availability of a powerful new tool to help commercial lenders recovery missing transportation assets. Over the few years, the automobile repossession industry has been revolutionized by the use of license plate recognition (LPR) technology that allows for instant/real time recognition of vehicles that have been assigned by lenders for repossession. While the impact of the technology on the consumer auto repossession industry has been substantial, until now the process has rarely been utilized in commercial markets. With today’s announcement, ALS | Resolvion seeks to change that.
Through it relationship with Digital Recognition Network, a leading LPR application provider, ALS | Resolvion gains access to a network of over 1700 camera equipped vehicles that scan 28+ million license plates (all types of vehicles) every month. ALS | Resolvion maintains a database of VIN’s for its clients that have units that are out for repossession and this database is linked to laptop computers in the camera equipped vehicles. When a license plate is scanned that matches a unit that is assigned for repossession, an alarm alerts the camera equipped driver who is connected immediately to ALS | Resolvion’s 24 hours service center. Once ALS | Resolvion confirms that the assignment is still valid (in real time), the unit is recovered immediately.
In addition to providing a real time monitoring service, each new assignment entered into the system provides the exact coordinates of any location where the vehicle had been scanned by DRN camera’s within the past 12 months. This provides very valuable information that can be used in a traditional skip tracing process.
“Consumer lenders have been receiving the benefit of this exciting technology for quite some time. The partnership between ALS | Resolvion and Digital Recognition Network now allows commercial lenders to begin to receive some of the same benefit” comments Michael Levison, ALS | Resolvion’s CEO. “It also underscores ALS | Resolvion’s commitment to staying on the cutting edge of technology to better serve our clients” Levison adds.
For more information on service, please contact Michael Levison at email@example.com