(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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The Cost of Doing Business: Why We Cannot Afford to Work for Free
The Insurance Barrier: When Tow and Repo Try to Cross the Line
Everyone Wants a Safe Repossession. Nobody Wants to Pay for One
The Industry We Built and the Standards We Must Protect
The Secret Recipe Isn’t Ours to Keep
What Happens When Repo Discovers Towing?