HPI is launching a new risk evaluation tool for manufacturer financial services, finance houses, dealer networks and auction houses.
REACT is a reporting tool to further assist in tracking assets and monitoring any change in interests.
Data quality reports, alerts, risk ratings and notifications of exported or scrapped assets are also available through REACT. It also provides an email function, auto-completion of notifications and a template letter.
Building on the success of HPI Monitor, the new offering provides a number of enhancements designed to bring greater cost and time savings. Crucially, REACT reduces the need for manual intervention and enables the management of notifications in a timely manner to minimise clearance calls and mitigate any risk of data not being recorded accurately.
Managing director of HPI Neil Hodson said: “REACT uses HPI’s expertise in the used car market to help finance companies efficiently monitor changes in assets, reduce keying errors and ensure finance is registered against the correct asset. We understand the challenges facing finance houses and REACT helps them tackle those challenges head on.”