GPS-based technology provider PassTime announced that it completed a software integration project with Verifacto, a cloud-powered risk management system for independent and buy-here, pay-here dealers as well as other auto finance companies.
Customers utilizing both Verifacto software and PassTime GPS solutions now can perform a variety of device management functions directly within Verifacto as well as use custom insurance status features.
“Verifacto has built an innovative product solution that is unique to this market. Adding them as an integrated software partner will be a great benefit to our customers,” PassTime executive vice president of development Jerry Morgan said.
PassTime’s BHPH and finance company customers have been using its GPS and automated collection technology solutions to enhance collection processes and reduce delinquencies and repossessions. PassTime, which has been in business for over 20 years, prides itself on offering high-quality and reliable products to the subprime vehicle financing industry along with 24/7 live customer care for its customers and end users.
Verifacto is a technology company focused on improving the way lienholders and borrowers connect with information. Verifacto makes data accessible and useful to customers by organizing information obtained from finance companies, borrowers and insurers.
Verifacto’s risk management system can track insurance status and compliance for lienholders and additional insured, combined with loan payment reminders and payment processing.
“The integration with asset recovery technology is a very strategic and valuable partnership. Verifacto analytics identifies the highest-risk customers while the GPS technology enables efficient asset recovery,” Verifacto co-founder and chief executive officer Hezi Moore said.
The companies mentioned that the integration is complete and is commercially available.
For more information, PassTime at (877) 727-7846 or [email protected]