Lenders

Complete Solution for Auto Finance Companies

MBSi’s RecoveryConnect SaaS platform seamlessly manages the entire loss mitigation process from repossession to remarketing. Make data-driven decisions and get full visibility of the case status, location of the asset and compliance status of the individuals accessing sensitive customer data.  

Recovery Connect Graphic

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 determine the custom solution that will best suit your organization, and our support team will provide individualized customer service to ensure you get the most out of your solutions.

Currently only available to our existing MRS customers, we are in the process of launching our new platform and migrating our current clients from iRepo and Compliance Made Easy to the new RecoveryConnect and VendorConnect for assignment and compliance management.

 

Recovery Connect and RCM
VendorConnect

Recovery Strategy

Mitigate risk and improve recovery outcomes by implementing industry standard compliance with state-of-art technology. 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 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.

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.

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

MBSi’s 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

Business Insights Tool

Insights at your fingertips

MBSiQ is a business analytics tool designed to help you pinpoint best practices and identify gaps within your asset recovery and case management workflow.

  • Build custom dashboard and reports
  • Analyze and measure metrics and KPIs
  • Custom charting 
  • Schedule report distribution recipients and frequency
  • Evaluate successful asset recovery business practices
  • Identify areas improvement in current assignment workflows to build better efficiencies

MBSiQ allows you to analyze your repossession data with cohesive analytics, connecting different data points rather than analyzing separate components.

Recovery Lifecycle

MBSi Corp

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. 

 

Remarketing Strategy

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.

Road

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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