MVTRAC
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MVTRAC Aggregates Business Units To Drive Growth, Value for Industry’s Leading Motor Vehicle Data Network
Three Business Lines Unified in Rebranding to Deliver More Real-Time Intelligence to Auto Finance, Law Enforcement, Recovery Specialists and Other Network Members
Palatine, IL (FEBRUARY 2, 2010) – MVTRAC, provider of the leading motor vehicle data network for public and private organizations, today announced it will aggregate operations, management and executive staff for City Auto Recovery Services, International Intelligence Agency, and MVTRAC as one cohesive organization under the brand MVTRAC™. The rebranding is designed to more clearly communicate the organization’s specialized capabilities in providing motor vehicle intelligence networks for law enforcement, auto finance, asset recovery, transportation and other motor vehicle industries.
According to Scott A. Jackson, chief executive officer for MVTRAC, "The goal of this strategic rebranding is simple: take our 20 year core business divisions and drive more awareness for the broad overall value and depth of services we offer, and promote value-creating growth across our network of motor vehicle intelligence for member organizations. Uniting our business units under one brand better integrates products, provides customers with more consistency in sales, support, and services, and leverages the collective expertise from hundreds of employees, vendors and subscribers to power the nation’s most powerful motor vehicle data network.”
The MVTRAC network is a secure interface that connects public and private organizations to relevant motor vehicle data in order to recover stolen or delinquent collateral, detect fraud, identity theft, deter criminal activity such as vehicle cloning, fraudulent lien releases and more. Member organizations upload their data and hotlists into the network, which are then cross-referenced with license plate captures from an International system of fixed and mobile camera units as well as cross-referenced for lien verification checks. When a match is found, the member organization is alerted and directed to the resources to respond as needed, based on the specific needs of the organization or if a lien is altered or circumvented the State and lienholders are alerted.
The cohesive rebranding alliance is also modeled to advance efforts for the auto finance asset recovery market, according to MVTRAC Chief Strategic Officer Ted Brown, “Long ago we recognized the value in delivering streamlined asset recovery services for auto finance lenders, captives and credit unions. We took this opportunity to rebrand our service bundle for our Intel, Recovery and Remarket programs called MVFastTrac, a ‘one-stop-shop’ for asset recovery services. This model is crafted specifically to help auto finance organizations minimize resources and maximize portfolio values in the recovery of delinquent loan assets. During a time when originations are down, our clients are telling us they need our recovery dollars to offset the downturn on the front end.”
In addition to real-time data capture and automation of labor-intensive tasks, network members benefit from secure data sharing. For instance, police cars equipped with Automatic License Plate Recognition (ALPR) cameras capture images of license plates and instantaneously compare them with millions of hot list records to identify vehicles of interest. MVTRAC senior vice president of business development Luke Smith explained, “Law enforcement agencies can utilize our MVLINK system to securely link into the network and see if other member agencies across the U.S. have any data on vehicles of interest as well as historical data. This greatly minimizes risk for the officers, helps locate criminals faster and ultimately saves taxpayer dollars by allowing agencies to do their job faster and more effectively and overall, this equates to a safer America.”
Collectively the business units of City Auto Recovery Services, IIA, National Liquidation Services of America and MVTRAC have more than 20 years of experience in asset recovery and remarketing with data networks that support motor vehicle intelligence and streamline asset recovery, and according to Jackson this endeavor is the next evolution of the business model in the marketplace. “Titling, ALPR, Recovery, Remarketing, Transportation, Reconditioning, Auction Services and funds, this uniting of our business divisions to the world as the single organization they are will allow us to better position our offerings through our cradle-to-grave services and to pursue growth opportunities that further strengthen the network, benefit the markets we service, and ultimately promote transportation safety and homeland security across the United States.”
About MVTRAC
MVTRAC is a leading provider of on-demand data solutions focusing on the
U.S. automotive finance industry. Utilizing ALPR technology, MVTRAC receives
real-time license plate images from remote camera systems via the Internet,
and stores the images in a centralized database on our servers. Users are
partitioned to receive views of plate reads and can manually connect to the
database via web browser to search for plate sightings against continually
updated hot lists. MVTRAC continues to develop relationships with government
agencies and third-party camera owners at traffic lights, tollbooths,
airports, major transportation hubs, security centers and retail/commercial
parking lots.
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