Lenders

Complete Solution for Auto Finance Companies

Seamlessly manage the entire loss mitigation process from repossession to remarketing with full visibility of the real-time case status, location of the asset and compliance status of the individuals accessing sensitive customer data.

Solutions for Auto Finance Companies

At all stages of the recovery cycle, lenders make decisions that balance the goals of reducing risk and maximizing financial gain. MBSi leverages integrations with industry-leading partners, and years of experience to deliver comprehensive solutions that strike that delicate balance.

Working with the largest names in auto finance as well as local credit unions, we understand every institution has unique needs and processes. Therefore, our teams will help you configure the settings that best suit your organization, and our support team will provide individualized customer service to ensure you get the most out of your solutions.

Total Compliance

Mitigate Risk

The RecoveryConnect platform and the mobile app, RCM, were specifically designed to offer the most comprehensive tools in the industry to mitigate risk and prevent unintended repossessions. In an environment where lenders use multiple forwarders and recovery agencies, all of whom use different software systems to operate their business, preventing and mitigating unintended repossessions presents complex challenges. The RecoveryConnect platform and the RCM mobile app are up for the challenge.

Account Status – The most critical element of preventing unintended repossessions is the field agent knowing the correct status of the account prior to securing the unit. Through real-time integrations with our lenders and forwarders, RecoveryConnect can ensure accurate, real-time status information on open accounts is always available to the field agent with RCM.

Mapping– Only assignments that are in an Open status and eligible for recovery are on the map in RCM. If a case is no longer eligible (marked Hold or Close) case are removed from the map in real-time.

Two-Step Recovery Process – A major part of preventing unintended repossessions is for the lender to know when a unit is secured so customer payment arrangements can be made with a clear understanding of the vehicle status. Therefore, we implemented the industry’s first two-step recovery process.

Step 1 – On-Hook – In RCM, the agent will see a green Hook icon that lets them know the case is open and available to be secured. When the field agent pushes the On-Hook button, this allows them to quickly and safely notify the lender that they have secured the unit. The lender then receives a status of “Pending Recovery” in real-time, letting them know the unit is secured. If the account status is not Active (Hold or Close), the assignment is removed from the app, and field agents are not able to On-Hook the unit in RCM.

Step 2 – Asset Recovery – Once the field agent has reached a safe location, they can complete the recovery information – i.e., location, time and police information.

Gold Standard Compliance

Set & Enforce Industry Compliance Standards

Together with our lending clients and compliance partner RISC, we have created the industry standards for compliance that go beyond the annual checkup.

Vendor Vetting

Verify, monitor and securely store important business documents and policies for all your asset recovery vendors. Document access and 24/7 compliance monitoring by RISC is available with VendorConnect.

Vendor Onsite Inspections

Through our partnership with RISC, we have the most comprehensive list of recovery lot inspections nationwide with immediate access to more than 3,000 inspected lots.

Education

Mitigate third-party vendor risk by verifying regulatory compliance training. The CARS program is the industry standard training program that covers all state and federal laws that impact the self-help repossession process.

In the recovery lifecycle, lenders send out recovery cases using MBSi software. From there, the case is received and accepted by the recovery vendor who runs the case to locate the vehicle. Through the location and recovery process, lenders are updated in real-time. From the time a case is assigned to a vendor, to recovery and remarketing, MBSi’s platform provides full visibility to the case status, location of the asset and compliance status of the individuals accessing customer data.

The RecoveryConnect case management solution is complimented by MBSi’s compliance management system, VendorConnect. MBSi exclusively partners with RISC (Recovery Industry Services Company) who provides CARS continuing education and certification, onsite vendor inspections and vendor vetting solutions to lenders, forwarders and recovery agents. The compliance visibility secures lenders by adding a layer of protection throughout the recovery process.

Reporting

New Business Insights Tool

MBSiQ is a business analytics tool designed to help you pinpoint best practices and identify gaps within your asset recovery and case management workflow. MBSiQ allows you to analyze your repossession data with cohesive analytics, connecting different data points rather than analyzing separate components. Our business insights team develops trend analysis and scorecards to help you see your business performance in comparison to the industry.

MBSiQ will allow you to:

Create a rolling scorecard
Analyze key metrics
Evaluate successful asset recovery work distribution
Use performance metrics to shift your strategy

My Reports in RecoveryConnect

Insights at your fingertips

My Reports in RecoveryConnect allows you to create ad hoc, customizable reports. Reports can be configured to display in a chart, graph or table and can be added to your dashboard for you to view when you log in. Additionally, reports can be easily shared with other users.

Invoicing

Smart Invoicing

Simplify the fee request and invoicing process with Service Providers based on contracted rates and SLAs.

Systematically ties the client’s contracted service fee to the case 
Set service rates based on pre-negotiated fees for services rendered based on the service type, e.g. involuntary repossession
Contracted fees can be uploaded to your company profile in RecoveryConnect for automatic invoice generation
Fee requests are auto-approved, declined, or in your review queue based on your thresholds
Invoices can be automatically generated for your services providers as soon as asset recovery is completed

Auto-approve invoices based on the set criteria and defined thresholds
Manage approval queues and invoice escalation to meet your team’s needs
Take action on an invoice or negotiate either the entire invoice or a single line item back to the service provider
Eases the invoicing process for your service provider

Recovery Strategy

Implement an LPR Strategy

Accelerate time to recovery by implementing a License Plate Recognition (LPR) strategy. LPR cameras detect and capture publicly visible license plates throughout the country.

The fully-automated LPR assignment management solution

LPRkloud™ offers a simple, scalable plate recognition solution. LPRkloud™ allows you to take advantage of the power of automating LPR assignment placement and management.

Automate creation and management of repossession assignments saving time and money
Hosts LPR cases and data with secure updates
Assignment status is updated in real-time (e.g. asset located and recovered with one vendor, closing all related assignments with other vendors)
Removes the need to manually manage and monitor your LPR assignments

Assignment Strategy

MBSi’s tools allow vendor managers to measure existing recover strategies and run champion/challenger tests to new ideas quickly to boost performance within a compliant ecosystem.

MBSi uses Switch in RecoveryConnect to allow lenders the systematic ability to place cases with vendors based on business rules they set up in a tier transfer process. Under this process, first placements can follow the lender’s business rules for vendor placement or the lender can choose to directly place assignments via RecoveryConnect or the import function.

Set rules. With a few clicks, you can send 50% of your assignments to a new vendor or make sure all ACV>$10,000 are sent to your highest performing vendor.
Determine the schedule. Do you prefer to leave cases open with a vendor for 10 days? What happens if you change this to 11 days? You pick the schedule.
Measure performance.

Once in the system, after a designated time or other predetermined rules such as vehicle value, the case can be reassigned to another vendor (tier 2). Accordingly, the case will be moved based on systematic rules down the tier waterfall until all business rules are met. Switch provides an “audit” function so the lender can see at the assignment level what rules were applied and how an assignment ended up with a vendor.

Remarketing

Where is the asset? What is the asset’s condition? Is there more value in sending the asset to auction or to salvage? With MBSi, you stay connected to your assets so you can make informed decisions about next steps and get the highest value for the asset while maintaining a positive relationship with your recovery vendors.

Know the location.

Schedule transports with ease due to known locations of all assets stored in secured lots

Know the condition.

Understanding the condition can help decisions downstream that impact the asset value

Smart decisions.

You create the rules and MBSi’s rules engine will handle the rest by ensuring you maximize asset value

Auction, salvage, online, whole car.

By incorporating your business rules, vehicle condition, and auction data, systematically make the best remarketing decisions to maximize vehicle sale values.

VEHICLE LOCATION & CONDITION + RULES ENGINE = IMPROVED RETURNS

If you would like to learn more or would like a demonstration of our platform, click on the button below to hear from a member of our team

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