FORT WORTH, Texas -

In a move announced on Wednesday aimed at mitigating risk for finance companies, Digital Recognition Network (DRN) and Recovery Database Network (RDN) said that RDN recently embedded DRN’s Address Scoring solution into the provider’s asset recovery management platform.

Company executives highlighted that embedding Address Scoring into RDN can provide finance companies with valuable information earlier in the vehicle recovery lifecycle, enabling institutions to make better decisions.

“We are excited to offer DRN’s Address Scoring to our customers — further strengthening our commitment to provide one of the best auto recovery systems on the market,” RDN president Zach Hallowell said.

“Our clients have seen significant improvements in recovery rates by using DRN’s vehicle location data, and the addition of Address Scoring extends the value of this data even further,” Hallowell continued. “Giving RDN customers access to the DRN address score, which indicates the likelihood a vehicle is near the given address provides better decision making and more positive recovery results.”

Address Scoring is the continuation of DRN’s strategy to provide data and analytics for recovery based on DRN’s unique vehicle location data.

Combining vehicle location data with analytics can give client a score that can help determine whether a given address vicinity is likely “good” or “bad” for recovery assignment.

The companies noted that cases in RDN will be automatically processed and the Address Score will be displayed next to each address within the case. For finance companies, DRN chief executive officer Chris Metaxas stressed that knowing the best address can help them determine where to send recovery agents and increases positive outcomes.

“Embedding Address Scoring in RDN makes it easy for lenders to reap the benefits of Address Scoring without having to login to a new system,” Metaxas said. “This further extends the benefits of DRN’s solutions like Smart Recovery that provide a 14-percent lift of auto recoveries for lenders.

“Address Scoring improves recovery rates, reduces skip costs, improves time to repossession and helps to avoid close fees, enabling lenders to reduce risk and write more loans,” he continued. “It’s just another way DRN’s powerful, unique location data helps to drive results for the auto recovery industry.”

Address Scoring is available as a stand-alone offering or combined with Smart Recovery through RDN.

Special pricing is available to RDN users that want both Smart Recovery and Address Scoring.