Track the vehicle’s location in real-time to monitor for unauthorized movement or relocation, which is especially valuable for high-risk loans.
GeofencingSet virtual boundaries around approved areas. If a vehicle exits the geofenced zone, receive instant alerts, which can help with repossession or recovery efforts if necessary.
Track metrics like harsh braking, speeding, or rapid acceleration to assess the borrower’s driving habits. High-risk driving behaviors can indicate potential risks and prompt additional monitoring.
Vehicle utilisationMonitor vehicle utilisation to ensure it aligns with declared usage, which can be helpful for identifying fraud or potential wear on the asset that affects its value.
Continuously monitor engine health, battery status, and other key metrics to assess the condition of the vehicle. This data helps the lender maintain asset value by ensuring vehicles are kept in good working order.
Predictive Maintenance AlertsReceive alerts on maintenance needs based on vehicle usage and diagnostic reports. Proper maintenance reduces depreciation, maintaining the vehicle’s value as collateral.
In cases of severe delinquency or fraud, remotely immobilize the vehicle in compliance with legal guidelines, allowing safe and efficient recovery.
Recovery OptimizationUse real-time GPS and last-known locations to locate vehicles quickly for repossession, reducing costs and protecting asset value.
Receive real-time alerts if the vehicle experiences tampering, collision, or damage. Quick alerts reduce risks, helping to secure or recover the asset faster.
Insurance Premium OptimizationProvide telematics data to insurers for a more accurate premium based on actual driving behavior, potentially lowering costs for borrowers and making loans more affordable.