IRVINE, Calif. – Spireon Inc., a provider of mobile resource management (MRM), said it has entered into a strategic partnership with P360, Inc., a provider of loan-level data management and analytics. The collaboration will provide a comprehensive portfolio solution to help vehicle lenders to identify, calculate and monitor risk before it affects their business, according to the companies.
“By coupling P360’s data-driven Mosaic loan intelligence platform with Spireon’s Goldstar GPS vehicle tracking, auto lenders can leverage business intelligence to significantly reduce risk and safely lend to previously overlooked borrowers,” the companies said. “By increasing penetration and yield to customers in lower credit tiers, lenders can expand their overall portfolio production and performance, deploying more capital and increasing loan originations. Meanwhile, lenders such as credit unions and regional banks will be able to help their members build and improve their credit by providing better loan rates than other subprime dealers or lenders.”
Separately, Spireon announced that Megasys, a provider of consumer loan servicing systems, will partner with Spireon to provide out-of-box integration with Spireon tools.
The integration between Spireon GoldStar GPS and Megasys Omega marks the auto lender industry’s first integration between major companies and allows customers to save time and money by centralizing all critical information into one convenient loan servicing system, the companies said. API’s enable automotive finance companies to automate order entry and use key GoldStar GPS features within Megasys Omega such as locating vehicles, enabling or disabling the starter and sending payment alerts.
“We are excited to enter this partnership with Spireon,” said Theo Austin, President and Chief Operating Officer for Megasys. “Time is money to our lender customers, and we are thrilled to offer additional time-saving tools with the performance and reliability that GoldStar GPS has brought to the market for years. This integration will give lenders the best analytical tools available to help them improve their bottom line and gain the competitive edge.”