In a still relatively slow yet rebounding economy, companies that are involved in the process of financing vehicles are being forced to continuously come up with creative ways to reduce costs that come from late payments, not getting paid all together and then the final step of repossession, while driving profitability. One sure fire way to do both of those simultaneously is by leveraging an innovative system coined LoanPlus CMS.
This best-of-breed collateral management system is ideal for subprime vehicle finance lenders looking to up the ante on their ROI. In a survey from NADB released in 2011, a large majority, nearly 74 percent, of those in finance positions have seen solutions like LoanPlus CMS make a significant impact to their bottom line; reducing late payments by 10 percent. Additionally, 78 percent of respondents have been able to drive efficiency within operations overall in their collections department.
Helping to modify the behavior of borrowers to enable them to continuously paying off their vehicle loans on time each month causing creditors to receive their loaned money back on a regular basis, extending the average loan life, and further enabling the recovery of assets without delay if the situation should arise resulting in an expanded portfolio that is comprised of successful debts repaid. This collateral management system can be fully customized according to your individual business needs and can be seamlessly integrated with legacy platforms already in use by a company. It even includes bi-directional functions and custom reports that can be generated automatically or on-the-fly. Below is an animation that provides more information on what LoanPlus CMS can do for your firm:
To get started on your road to gaining access to rich data that can help your firm stand out from competitors, contact us for more information. Please fill out the form to the right.