Spireon and P360 Forge Strategic Partnership

Spireon and P360 Forge Strategic Partnership to Introduce Industry’s First Risk Analytics Tools for Auto Lenders

Live modeling enables automotive finance companies to expand penetration into previously untapped credit tiers.

IRVINE, Calif. – June 19, 2015 – Spireon Inc., a leading innovator of Mobile Resource Management (MRM), today announced a strategic partnership with P360, Inc., a leading provider of loan-level data management and analytics. The collaboration will provide a comprehensive portfolio solution to help vehicle lenders to identify, calculate and monitor risk before it affects their business.

By coupling P360’s data-driven Mosaic loan intelligence platform with Spireon’s GoldStar CMS vehicle tracking, auto lenders can leverage business intelligence to significantly reduce risk and safely lend to previously overlooked borrowers. By increasing penetration and yield to customers in lower credit tiers, lenders can expand their overall portfolio production and performance, deploying more capital and increasing loan originations. Meanwhile, lenders such as credit unions and regional banks will be able to help their members build and improve their credit by providing better loan rates than other subprime dealers or lenders.

“As the auto finance industry evolves, our customers are demanding more sophisticated tools to measure their risk and improve their ability to expand their portfolios. Spireon is pleased to partner with P360 to be the first to offer tools that can improve decision making, increase return on capital, and streamline risk processes.” said David Meyer, executive vice president of Spireon’s automotive telematics solutions.

P360 ran live portfolio analysis models with two market-leading credit unions, and their results show that adding GPS vehicle tracking lowered risk dramatically for these financial institutions. The model showed available market size increasing by over 10%, with credit union borrowers in lower credit tiers performing at the same level as higher credit tiers.

P360’s president and CEO, Carl Meiswinkel adds, “Our clients are constantly searching for ways to deploy more capital safely. P360 and Spireon’s combined technologies allows credit unions and other financial institutions to drive better business outcomes for offering services to underserved consumer markets. These goals can be accomplished with higher yields and less risk while providing significant benefit to their members.”

About P360

P360, Inc. creates an environment where lenders can better understand their borrowers and anticipate portfolio performance. The company simplifies loan risk and reporting for credit unions and other financial institutions by utilizing Mosaic software to transform data into actionable intelligence. P360 provides best in class visibility at the loan level with an innovative forward-looking expected loss model that quantifies risk and brings loan performance data to life.

Headquartered in Irvine, CA, P360’s inquisitive team of loan experts leverages their experience in underwriting, valuation, servicing and acquisitions to continually enhance the company’s predictive modeling and surveillance offerings to help guide lending growth, manage concentration risk and identify new lending opportunities. To learn more about Mosaic and Loan Surveillance services visit www.p360inc.com or call 949.347.7700.

About Spireon

Spireon, Inc. connects companies to their mobile assets and workforces, giving them powerful information platforms that turn data into actionable business intelligence. Headquartered in Irvine, CA, Spireon’s leading Software-as-a-Service (SaaS)-based tools now support more than 2 million active subscribers through the company’s vehicle finance and fleet telematics solutions, and trailer and asset intelligence GPS offerings.

Spireon’s award-winning NSpire M2M intelligence platform provides unparalleled reliability and scalability, allowing the company to deliver ROI-focused solutions. The company's GoldStar CMS automotive solutions help dealers and lenders put more of their customers into vehicles, while giving them the tools to make smarter lending decisions, protect their investment, ensure longer performing loans and improve their business fundamentals. Spireon's industry-leading FleetLocate fleet offerings provide real-time visibility into business operations, allowing owners and managers to optimize asset management, and improve driver satisfaction and retention. For more information, visit www.Spireon.com.


Spireon Inc.

Corinna Tutor

P360, Inc.

Chris Urbaniec

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