Selected by CIO Review as one of the Top 20 Most Promising Automotive Tech Solution Providers in 2014.
Automotive Collateral Management solution developed and designed exclusively for Credit Union Members, and now certified to operate on the Sprint nationwide 3G network
IRVINE, Calif., and OVERLAND PARK, Kan. – March 18, 2014 – Spireon, the leading provider of Mobile Resource Management (MRM) and business intelligence solutions used by companies to maximize their mobile assets and workforce, announces an exciting new collaboration between the company’s Automotive Solutions Group, Sprint (NYSE:S) and CU Solutions Group (CUSG).
CUSG is a leading industry organization offering credit unions nationwide innovative solutions for improving their business operations, efficiencies and member services. CUSG has added Spireon’s LoanPlus CMS (collateral management system) to its arsenal of solutions for credit unions looking to serve a broader range of members with automotive loans while reducing their risk.
Spireon’s LoanPlus CMS is a GPS-based collateral management system that allows credit unions to capture a wealth of real-time data about their automotive collateral’s location, movement and status, then leverage this data to improve member services, collateral management and collections. The latest generation of LoanPlus CMS runs on the Sprint 3G nationwide network – and has been recognized as “Best Automotive Collateral Management Platform” in the M2M category during the 2014 Consumer Electronics Show (CES). Boasting a total subscriber base of more than 1.7 million, Spireon brings a proven technology to team with Sprint’s leading telecommunications solutions.
“This cooperative relationship between leaders in three industries – telematics, credit unions and telecommunications – offers unique advantages for credit union customers,” says Brad Jarvis, Spireon chief marketing officer and executive vice president of Products. “CUSG will now be able to bring their credit union partners powerful, easy-to-use technology for tracking vehicles, managing collateral and reducing risk while extending loans to more members, including those with credit challenges.”
“With this new affiliation, CUSG can expand our offerings for credit unions to help them grow their auto lending business and better serve their members,” says Dave Adams, CEO at CUSG. “We are excited to bring our credit union members a powerful and proven telematics solution that will help them meet their automotive lending objectives.”
Sprint has played a key role in facilitating a new three-way alliance that increases a credit union's ability to lend in the non-prime auto loan market. CUSG and Spireon introduced LoanPlus CMS on the Sprint Now Network, leveraging the best in connectivity, marketing and sales in a nationwide partnership. LoanPlus CMS is available today from Sprint and Spireon and is available to credit unions exclusively through CU Solutions Group.
“Sprint’s long-standing relationship with credit unions and CUSG has provided tremendous value to credit union members,” says Brian Miller, Sprint regional vice president at Sprint. “This expanded affiliation with CUSG and Spireon builds on our track record of bringing innovative solutions to credit unions across America.”
The 10th generation LoanPlus CMS operates on the Sprint 3G network and is CDMA-enabled. This ensures that credit unions will remain connected to their automotive data during the term of their loans.
“Now with Sprint and our CDMA-enabled LoanPlus CMS solutions, we bring a whole new dimension of acquiring, servicing and managing the risk of auto loans for CUSG’s credit union partners,” said David Meyer, executive vice president of Spireon’s Automotive Solutions Group. “This was evident, as we received an overwhelming response during the Credit Union National Association’s Governmental Affairs Conference last month. In addition to being able to now serve more of their credit union members, everyone will see a brighter future as the technology this partnership is bringing has future-ready built in.”
To learn more about the CDMA LoanPlus CMS running on the Sprint 3G Network, visit http://www.cusolutionsgroup.com/LoanPlusCMS
About CU Solutions Group
CU Solutions Group serves the credit union industry by offering essential solutions in five key areas: marketing, technology, membership enhancements, performance management and lending & insurance. It was formed out of the combination of CU Village and HRN Management Group, and is owned by hundreds of investors made up of leagues, credit unions and credit union system organizations. Learn more at www.cusolutionsgroup.com, www.facebook.com/CUSolGroup or www.twitter.com/CUSolGroup.
Sprint (NYSE: S) offers a comprehensive range of wireless and wireline communications services bringing the freedom of mobility to consumers, businesses and government users. Sprint served more than 55 million customers at the end of 2013 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading prepaid brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. The American Customer Satisfaction Index rated Sprint as the most improved company in customer satisfaction, across all 47 industries, during the last five years. Sprint has been named to the Dow Jones Sustainability Index (DJSI) North America in 2011, 2012 and 2013. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
Spireon, Inc., is at the summit of business intelligence and committed to going higher. With its corporate headquarters in Irvine, CA, the company emerged in 2011 as the industry leading Mobile Resource Management (MRM) company as a result of the merger of ProconGPS, Inc. with EnfoTrace and PFS, LLC, the top three providers in the MRM space. Spireon connects companies to their mobile assets and workforce through game changing information platforms, giving them the power to manage actionable business intelligence. Its trusted brands include market share leader GoldStar GPS®, EnfoTrace GPS™, FleetLocate®, VehiclePath™ and LoanPlus CMS™. Inspiring companies to reach new heights with powerful Software-as-a-Service (SaaS) based tools; Spireon provides a sturdy foundation on which to optimize performance.
With leading market positions in the fleet, transportation and automotive telematics markets, Spireon, Inc. specializes in developing strong business relationships with leading companies worldwide, enabling it to offer affordable world-class risk mitigation, mobile resource management and location based services to its customers.
FOR IMMEDIATE RELEASE:
Caroline Semerdjian, Sprint
Corinna Tutor, Spireon
Kelley Haynes, CUSG