March 22, 2017 07:59 AM Eastern Daylight Time
Spireon and CU Solutions Group Partner to Reduce Loss Risk in the Vehicle Finance Industry
Partnership Provides Credit Unions Access to GoldStar Solution to Control Rise in Auto Loan Delinquencies
IRVINE, Calif.–(Spireon Inc.) a leader in telematics, risk management and location-based Business Intelligence solutions, and CU Solutions Group, a credit union service organization, today announced a partnership focused on mitigating auto lending risk for credit unions. CUSG will exclusively offer to its national network of credit union clients Spireon’s GoldStar Lender solution, which includes tools to help control the rise in delinquencies by staying connected to borrowers.
CU Solutions Group provides technology solutions and other services to help credit unions improve business operations and efficiencies. GoldStar Lender CMS is the vehicle finance industry’s leading GPS-based locator solution, proven to help increase loan portfolio performance and reduce loan delinquencies.
GoldStar Lender will give participating credit unions a secure, web-based portal to automatically locate assets and communicate with borrowers quickly, enabling them to proactively address situations that can lead to delinquencies. With real time vehicle data, payment reminders, and tools to incentivize on-time payments, GoldStar Lender allows credit unions and other auto finance organizations to effectively manage a much larger loan portfolio with less risk.
“With GoldStar Lender, credit unions can now use a wealth of real-time data about their automotive collateral and tools to conveniently communicate with borrowers to better manage their collateral, increase recovery success rates when needed, and significantly increase their auto loan performance,” said Todd Abbott, chief revenue officer at Spireon. “The partnership with CUSG allows us to bring our GoldStar solution to credit unions more efficiently, and provides valuable feedback from their members to ensure we maintain our leadership role in the vehicle finance market.”
“CU Solutions Group is dedicated to continually delivering innovative technology solutions, like the GoldStar Lender CMS, to credit unions. This new solution allows credit unions to control auto delinquency losses,” said CU Solutions Group CEO Dave Adams. “We are pleased to offer the GoldStar Lender solution since it bridges the communication gap among the lender, dealer and borrower. It will allow the dealer and credit union to focus on core business with less worry about potential risks in their loan portfolio.”
Spireon, Inc. is the industry’s leading open connected vehicle company, providing businesses and consumers with powerful insights to track, manage and protect their most valuable assets. The award-winning Spireon NSpire platform supports more than 3.75 million active subscribers across the company’s growing suite of products for new and used car dealers, lenders and financial institutions, rental car agencies, insurers and consumers, as well as fleet, trailer and asset management companies. Learn more at www.spireon.com.
About CU Solutions Group
CU Solutions Group is a credit union service organization serving the credit union industry through enhanced technology, marketing and performance solutions. The company is dedicated to helping its nearly 3,400 credit union clients serve, grow and remain strong. CU Solutions Group is home of the well-known credit union industry program Love My Credit Union Rewards. Learn more at CUSolutionsGroup.com.