Auto recovery leader and disruptive LPR technology to transform industry
OLDSMAR, Fla. – April 29th, 2015 —PlateSmart Technologies, the industry leader in License Plate Recognition (LPR), today announced an exclusive licensing agreement with PRA Location Services, a business of PRA Group (Nasdaq: PRAA), to provide LPR technology for PLS’ repossession and recovery services nationwide.
PlateSmart partnered with PRA Location Services (PRALS) as the exclusive licensee to the repossession and recovery vertical because of PRALS’ leading position in the auto recovery market, its financial stability as part of a public company, and its substantial nationwide system deployment commitment.
PlateSmart has continued to expand in a wide variety of vertical markets including physical security, counterterrorism and business intelligence. The company recently earned the 2015 Govies Award in video analytics from Security Products magazine for its innovative new high-definition LPR engine, which will soon be a standard feature in all PlateSmart solutions. This is the second Govies award in a row for PlateSmart, which won in the same category last year for its ARES LPR-based enterprise video analytics solution.
PlateSmart Technologies has developed the world’s first software-only affordable License Plate Recognition (LPR) and video analytic solution, which works with both state-of-the-art and legacy cameras. PlateSmart offers solutions and analytics as server installed platforms for both mobile and fixed LPR operation as well as a cloud based SaaS service. ARES, PlateSmart’s flagship enterprise LPR-based analytic solution, provides real-time actionable intelligence with industry-leading accuracies and state jurisdiction recognition for complete situational awareness. PlateSmart has been frequently recognized as the most innovative and forward-thinking LPR technology by Frost and Sullivan and through awards from various industry trade organizations. Contact us at www.platesmart.com.
About PRA Location Services and PRA Group
PRA Location Services (PRALS) is the only vertically integrated provider of skip tracing, license plate recognition (LPR) and auto transport to auction services to the repossession and recovery industry. Since its inception in 1995, PRALS has successfully recovered millions of dollars in missing collateral for major auto lenders and insurance companies nationwide.
PRA Group (Nasdaq: PRAA) has been recognized as one of Fortune’s 100 Fastest-Growing Companies for the past three years and one of Forbes’ Best Small Companies in America for eight consecutive years since 2007. As a global leader in acquiring defaulted receivables, PRA Group returns capital to global banks and other creditors to help expand financial services for consumers in North America and Europe. PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business and government clients.
DISCLAIMER: This press release may contain forward-looking statements and/or predictions. These statements are based on history, current knowledge, and current market conditions. They are subject to change without notice as conditions and knowledge change; therefore, undue reliance should not be placed on such statements.
Schaumburg, Ill., Aug. 20, 2014 — Experian Automotive today announced that outstanding automotive loan balances reached an all-time high in the second quarter of 2014. According to its latest State of the Automotive Finance Market report, the total dollar amount of automotive loan balances outstanding hit $839.1 billion, up 11.7 percent from the previous year.
Further findings from the report showed that, while still at near historic lows, 60-day loan delinquencies increased by 7 percent to 0.62 percent in Q2 2014 from 0.58 percent the previous year. Additionally, 30-day delinquencies showed a slight increase, going from 2.38 percent to 2.39 percent over the same time period. Moreover, the total balance of loans that are 60-days delinquent has increased by $859 million since Q2 2013, while the balance of 30-day delinquent loans has increased by $2.8 billion from a year earlier.
SAN JOSE, Calif. —January 14, 2014— As consumers continue to seek and receive more credit, the latest quarterly survey of U.S. and Canadian bank risk professionals found expectations for delinquencies on auto loans hit their highest level since Q4 2012, and expectations for delinquencies on credit cards reached their highest level in two years. In the survey from FICO (NYSE:FICO), a leading predictive analytics and decision management software company, 34 percent of respondents expected delinquencies on auto loans to grow in the next six months, while 28 percent expected delinquencies on credit cards to increase.
Sacramento Bee, Nov. 18, 2013
Las Vegas asset recovery firm PRA Location Services is opening its first California location in Folsom with plans to hire 80 people in 2014.
As a subsidiary of Virginia-based Portfolio Recovery Associates, Inc., “our footprints are all over the U.S.,” said John Fountaine, a PRA Location Services vice president. “We want to leverage that footprint,” he added, by moving into the California market.
Sacramento Business Journal, Nov. 1, 2013
A fast-growing Virginia company that recovers cars and other assets from delinquent consumers says it is opening a Folsom office that will employ 80 workers by next year.
PRA Location Services, a division of Portfolio Recovery Associates Inc., is opening a back office and call center in Folsom for nationwide work in license-plate recognition and skip-tracing work in the vehicle repossession and recovery business.
PRA Location Services Appoints New Leadership, Expands LPR Fleet, Opens Regional Office in El Dorado Hills, CA
Company plans to add 80 new jobs in 2014
LAS VEGAS – October 30, 2013 – PRA Location Services (PLS), the only vertically integrated provider of forwarding/skip tracing services and License Plate Recognition (LPR) technology in the automotive recovery industry, today announced new leadership, LPR fleet expansion, a migration to the Intellaegis MasterQueue platform and a new regional office in the El Dorado Hills, California, area.
The company has appointed a new leadership team comprised of four industry veterans formerly employed by a major provider of national repossession servicing. The new team brings to PLS deep knowledge and expertise in forwarding, skip tracing, impounds, transportation and LPR.
PLS has also made a substantial investment in an Automatic License Plate Recognition (ALPR) four-camera system deployment with 3M, the leading global provider of ALPR solutions, further expanding its nationwide fleet. In addition, PLS is implementing MasterQueue as its new software platform to maximize forwarding and skip tracing results for its clients.