MBSI CASE STUDY: Driving Loan Solutions

FinBe USA, headquartered in Fort Lauderdale, Florida, isa leading financial services provider specializing in auto loan financing.Since 2007, the company has partnered with franchise and independent auto dealerships to provide auto loans for a range of credit profiles. Owned by Bepensa, aMexican conglomerate with over 40 companies, FinBe USA benefits from Bepensa’s wide-reaching influence, which spans 59 brands and provides employment to over14,000 people across Mexico, the U.S. and the Dominican Republic.

The Challenge

With a growing portfolio of customers, FinBe USA faced significant challenges in managing their delinquent accounts and improving recovery rates. The team required additional visibility and oversight into their repossession process to avoid inefficiencies and missed opportunities.They were dealing with several key issues:

• Inconsistent repossession data, particularly the“days to recover” metric, which hampered performance tracking and reporting.
• Challenges in evaluating vendor performance, making it difficult to identify top-performing vendors and allocate resources strategically.
• Lack of real-time data on assignment distribution, limiting their ability to make quick adjustments in response to changing circumstances.

Mike and Justin from FinBe USA expressed the challenges that arose from manual data tracking, which prevented them from making informed decisions about vendor performance and allocation. These challenges made it difficult for leadership to manage their growing portfolio effectively and track the effectiveness of their repossession efforts.

The Solution

MBSi’s Professional Services Manager conducted an initial data analysis to identify improvement opportunities in FinBe USA’s repossession process. The analysis revealed:

• Data Analysis and Cleanup: MBSi’s team conducted a thorough data analysis, identifying that the use of RecoveryConnect had led to inconsistent repossession data. This particularly affected key metrics like “days to recover,” making it difficult for FinBe USA to track performance accurately.
• Vendor Performance Oversight: The analysis revealed that FinBe USA had limited insight into vendor performance, which hindered their ability to make strategic decisions. MBSi recommended operational adjustments, including automating assignment distribution through RecoveryConnect Switch to ensure better oversight and real-time performance tracking.
• Operational Adjustments: After identifying performance gaps and realizing declining recovery rates from March to May 2024, MBSi recommended schedule changes for better vendor performance and more effective repossession timelines. 

Results

Since adopting RecoveryConnect and receiving support from MBSi’s Professional Services, FinBe USA has seen remarkable improvements in their repossession process and overall recovery rates:

• Improved Data Accuracy: The data analysis provided by Professional Services have significantly improved the accuracy of repossession metrics like “days to recover.” This normalized data visibility now allows FinBe USA to track their performance more effectively.
• Time Savings: Through the use of automation in RecoveryConnect, FinBe USA streamlined processes, saving both time and valuable resources.
• Real-Time Vendor Monitoring: With the automation of assignment distribution through RecoveryConnect Switch, FinBe USA can now monitor vendor activity in real-time. This enables quick adjustments to strategy, improving vendor oversight and performance.
• Increased Recovery Rates: After implementing the schedule changes based on vendor performance data, FinBe USA’s recovery rates have dramatically improved since May 2024. This has had a direct, positive impact on their ability to manage these accounts more efficiently.

Mike and Justin emphasize that MBSi’s solutions have provided the tools necessary to make data-driven decisions, improving transparency in their vendor relationships. They can now share performance data with their partners and adjust strategies quickly, ultimately leading to better outcomes for both FinBe USA and its clients.

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“MBSi’s solutions have provided the tools necessary to make data-driven decisions, improving transparency in their vendor relationships.”