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Utilization of LPR – Survey of Lender Practices

Sponsored by: LinkedIn Group “Lenders Repossession Best Practices Forum

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We asked over 3000 auto lenders to participate in a survey that covered the utilization of license plate recognition (LPR) and how it’s used in repossession operations. In the past several years, LPR technology has become a popular repossession strategy among banks, credit unions, and independent financial institutions of all sizes. As a leading nationwide repossession management and skip trace company, we wanted to provide industry data that would offer valuable insight on the diversity of LPR approaches. In our survey, we asked lenders whether or not LPR technology was used in their collateral recovery efforts as well as when the strategy is deployed. We think you’ll find the results rather interesting.

Our team has compiled the results based on institution type.

Download a copy of our poll results here.

If you found the poll results intriguing. Register for our upcoming webinar “Optimizing the use of LPR Data

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