Spireon And P360 Forge Strategic Partnership To Introduce Industry's First Risk Analytics Tools For Auto Lenders

Live modeling enables automotive finance companies to expand penetration into previously untapped credit tiers

Spireon Inc., a leading innovator of Mobile Resource Management (MRM), recently announced a strategic partnership with P360, Inc., a leading provider of loan-level data management and analytics. The collaboration will provide a comprehensive portfolio solution to help vehicle lenders to identify, calculate and monitor risk before it affects their business.

By coupling P360’s data-driven Mosaic loan intelligence platform with Spireon’s Goldstar GPS vehicle tracking, auto lenders can leverage business intelligence to significantly reduce risk and safely lend to previously overlooked borrowers. By increasing penetration and yield to customers in lower credit tiers, lenders can expand their overall portfolio production and performance, deploying more capital and increasing loan originations. Meanwhile, lenders such as credit unions and regional banks will be able to help their members build and improve their credit by providing better loan rates than other subprime dealers or lenders.

“As the auto finance industry evolves, our customers are demanding more sophisticated tools to measure their risk and improve their ability to expand their portfolios. Spireon is pleased to partner with P360 to be the first to offer tools that can improve decision making, increase return on capital, and streamline risk processes.” said David Meyer, executive vice president of sales and services for Spireon’s automotive solutions group.

P360’s president and CEO, Carl Meiswinkel adds, “P360 and Spireon’s combined technologies will allow credit unions and other financial institutions drive better business outcomes by offering an unprecedented combination of live modeling tools for underserved consumer markets.”

About P360
P360, Inc. creates an environment where lenders can better understand their borrowers and anticipate portfolio performance. The company simplifies loan risk and reporting for credit unions and other financial institutions by utilizing Mosaic software to transform data into actionable intelligence. P360 provides best in class visibility at the loan level with an innovative forward-looking expected loss model that quantifies risk and brings loan performance data to life.

Headquartered in Irvine, CA, P360’s inquisitive team of loan experts leverages their experience in underwriting, valuation, servicing and acquisitions to continually enhance the company’s predictive modeling and surveillance offerings to help guide lending growth, manage concentration risk and identify new lending opportunities. For more information, visit www.p360inc.com

About Spireon
Spireon, Inc. connects companies to their mobile assets and workforces, giving them powerful information platforms that turn data into actionable business intelligence. Headquartered in Irvine, CA, Spireon’s leading Software-as-a-Service (SaaS)-based tools now support more than 2 million active subscribers through the company’s vehicle finance and fleet telematics solutions, and trailer and asset intelligence GPS offerings.

Spireon’s award-winning NSpire M2M intelligence platform provides unparalleled reliability and scalability, allowing the company to deliver ROI-focused solutions. The company’s GoldStar CMS automotive solutions help dealers and lenders put more of their customers into vehicles, while giving them the tools to make smarter lending decisions, protect their investment, ensure longer performing loans and improve their business fundamentals. Spireon’s industry-leading FleetLocate fleet offerings provide real-time visibility into business operations, allowing owners and managers to optimize asset management, and improve driver satisfaction and retention. For more information, visit www.Spireon.com.