Schaumburg, Ill. - Experian Automotive announced the newest addition to its suite of portfolio monitoring services, Lender Triggers. This new tool is designed to help automotive lenders better monitor changes in loan status on their portfolio, including whether a vehicle has been refinanced, a title loan has been added or a vehicle has been paid off. These actionable insights enable automotive lenders to make more educated business decisions, evaluate portfolio makeup and perfect titles on their active book of business.
"In today's automotive lending environment, it's imperative for finance companies to stay abreast of all changes that could impact their portfolio, whether it's a change to the vehicle or the consumer status," said Kevin Henahan, senior vice president of marketing, Experian Automotive. "By adding Lender Triggers to our full suite of portfolio monitoring services, we're able to provide automotive lenders with the tools and resources to identify changes in their portfolios across the entire life cycle."
Automotive lenders using the new triggers product can select the frequency of monitoring. When changes to the portfolio occur, Experian Automotive will notify the client the details of the change and when the change occurred.
