Procon Analytics Enters the Subprime Vehicle Finance Market with Advantage GPS, the Next Evolution in Automotive Analytics

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The pioneers of automotive telematics have expanded its connected car portfolio and are now offering automotive lenders an advanced risk mitigation solution.

Procon Analytics, a global leader in connected car telematics, announces they are entering the vehicle finance industry with an advanced risk mitigation platform – Advantage GPS. The Advantage GPS risk mitigation platform uses the latest GPS technology and data mining innovations that empower automotive lenders to assess risks faster, make more agile and profitable business decisions, and expand their customer base to improve their bottom line.

Procon Analytics has assembled some of the original pioneers behind automotive telematics to modernize and lead the way in risk mitigation solutions and services for the vehicle finance industry. Over the past several months, the team has designed, developed and successfully incubated Advantage GPS, their progressive new risk mitigation platform. Advantage GPS uses the latest automotive IoT technology, providing auto lenders with robust, real-time automotive analytics. With more accurate business intelligence, the company enables lenders to keep a constant pulse on their vehicle assets as well as finance more of the underbanked population – confidently.

“I’m excited to be one of the trailblazers in the industry once again,” stated David Meyer, COO of Procon Analytics. “We’ve designed powerful automotive analytic tools and services that help auto lenders assess and manage risks in real-time. The reception during our incubation period has been exhilarating – just ask any of our 500 plus customers who have already switched to Advantage GPS.”

Advantage GPS is the first risk mitigation solution that brings advanced GPS tracking together with genuine analytics. Auto lenders enjoy the advantage of having more accurate, real-time visibility and powerful data insights at their fingertips giving them greater peace of mind when extending high risk loans.

“Few people get a do-over in life. David Meyer, Bill Cheney, and our whole team have the incredible opportunity to take all that we learned in our past experience in this space, and to add new features and processes to this powerful new platform,” said Brian Boling, CEO of Procon Analytics. “When you start with a new company, it’s like having a clean sheet of paper where you can truly rethink how these technology solutions can better serve our customers. The Advantage GPS solution is the perfect addition to our connected car portfolio. Our new customers are going to love this platform!”

Advantage GPS risk mitigation products and services are available nationwide and join Procon Analytics’ existing international connected car solutions. This solution set enables the company to deliver a more efficient, value-driven connected car and tracking process to US automotive retailers and lenders, while simultaneously innovating service features, business intelligence, IoT and big data solutions for the global automotive industry.

Procon Analytics’ multi-national suite of products now includes:

  • Advantage GPS, risk mitigation tools and real-time automotive analytics that help lenders protect vehicle assets, reduce delinquencies and speed up recoveries when needed
  • Procon Automotive, a dealer lifecycle management and customer retention solution platform serving new car auto dealers throughout North America
  • MyCar, a mobile app allowing drivers to remotely start a vehicle from their smartphone and sold throughout North America
  • Oigo Telematics, a fleet management & vehicle recovery system supporting businesses in Latin America

“Bringing subprime automotive technology solutions under the Procon Analytics portfolio enables us to deliver leading-edge applications, functionality and value to our customers. Ultimately, our data analytics group will provide customers with business intelligence and insights based on the unique data Procon Analytics is able to mine within the connected car lifecycle and ecosystem,” said Bill Cheney, Procon Analytics’ CTO and Managing Director.

Serving over 500 automotive lenders with over 300,000+ connections, Procon Analytics not only utilizes the most innovative connected technology but is constantly evolving based on the automotive finance industry’s needs, technological advances, and economic and legislative trends.

About Advantage GPS

Advantage GPS by Procon Analytics provides GPS technology and innovative data analytics that empower BHPH dealers and vehicle finance companies to make smarter, faster and more profitable business decisions. The company’s seasoned leadership team has been revolutionizing risk mitigation tools and real-time automotive analytics to help lenders protect vehicle assets, reduce delinquencies and speed up recoveries when needed for over a decade.

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About Procon Analytics

Procon Analytics, a global leader in automotive telematics, is dedicated to bringing better, more efficient and value-driven connected car features – along with next-generation channel management processes – to US automotive retailers. As implied by its name, Procon Analytics combines a new database architecture with advances in big data analytics to run a powerful engine that converts information gathered by IoT sensors into critical business intelligence for the global automotive industry. Procon Analytics currently operates in the US, Canada and Latin America, with a focus on creating big data solutions for the automotive industry.

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