(Part 1 of a 2 part series)
License Plate Recognition Technology (LPR) came into being in the repossession industry in 2009. We started using this technology ourselves in 2010. Since then we’ve learned a lot and are seeing more and more companies coming into being trying to leverage this technology. What I want to do in this two-part series is explain how this technology works in the hopes of enabling you, the collector and lender, to better understand and use this technology.
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More Stories
Repossession vs. Remarketing: A Breakdown in Accountability
The Tale of the Orchard of Apples and Oranges
When the Repo Man Says No
The Cost of Recovery Has Changed – The Model Must Follow
Unsustainable Now: The Fuel Cost Surge Threatening the Survival of Repo Agents
The Tale of the LPR Network