Press Release
Boston, MA – June 17, 2024 – AutoSquared.AI, a leader in advanced technology solutions for the auto finance industry, is proud to announce a strategic partnership with First Help Financial through the signing of a Master Services Agreement (MSA) for the Impound Monitoring and Automation (IMA) solution. This collaboration marks a significant milestone in enhancing operational efficiency and customer satisfaction in auto finance.
First Help Financial, a company dedicated to providing accessible auto financing options, has chosen AutoSquared.AI ‘s IMA solution to achieve several critical objectives:
- Near Real-Time Notification of Impounded Assets: By leveraging AutoSquared.AI’s IMA solution, First Help Financial will receive instant alerts when a vehicle is impounded, enabling them to respond quickly and efficiently. Reduction of Storage Fees for Impounds: The proactive approach of IMA helps in minimizing costly storage fees by ensuring that impounded vehicles are recovered swiftly.
- Increased Recovery Rate: The advanced algorithms and real-time data integration provided by IMA significantly boost the recovery rate of impounded vehicles, leading to better asset management.
- Elimination of Lien Placement Risks: Timely recovery of assets mitigates the risk of lien placements, protecting First Help Financial from potential legal and financial complications.
- Future Use of Historical Data for Skip Tracing: The comprehensive data collected through IMA will be invaluable for future skip tracing efforts, aiding in the efficient location and recovery of assets.
“Partnering with AutoSquared.AI to implement the IMA solution aligns perfectly with our mission to provide top-notch service and financial solutions to our customers,” said Devery Stanton, Senior Manager, Loss Mitigation at First Help Financial. “The IMA solution will not only enhance our operational efficiency but also ensure that we can manage our assets more effectively, reducing costs and improving our overall recovery rates.”
Chad Carlson, VP, Portfolio Servicing Operations at First Help Financial, added, “The integration of AutoSquared.AI’s IMA solution represents a significant step forward in how we handle impounded assets. The ability to receive real-time notifications and streamline our processes will provide a substantial boost to our operational capabilities.”
AutoSquared.AI’s President, John Rhodes, expressed enthusiasm about the partnership, stating, “We are thrilled to support First Help Financial in their quest to optimize impound asset management. Our IMA solution is designed to bring real-time insights and automation to the forefront, helping our clients achieve their goals with greater precision and efficiency.”
For more information about AutoSquared.AI and its innovative solutions, please visit AutoSquared.AI.
About AutoSquared.AI. AutoSquared.AI is a leading provider of advanced technology solutions designed to transform the auto finance industry. By leveraging real-time data, cognitive automation, and AI, AutoSquared.AI offers cutting-edge tools that enhance operational efficiency, compliance, and customer satisfaction.
About First Help Financial. First Help Financial is dedicated to providing accessible and flexible auto financing solutions to underserved markets. With a focus on customer service and community support, First Help Financial aims to make auto financing more straightforward and accessible for a broader range of customers.
AutoSquared.AI and First Help Financial Partner to Revolutionize Impound Asset Management – AutoSquared.AI and First Help Financial Partner to Revolutionize Impound Asset Management – AutoSquared.AI and First Help Financial Partner to Revolutionize Impound Asset Management
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