January 20, 2020

LPS Launches New Repossession Management Platform

Grand Rapids, Michigan based Loss Prevention Services, LLC, an industry leading repossession management service provider to auto finance lenders and servicing companies, will be launching a new repossession management platform, SysHub, first quarter of 2020.  SysHub will provide a suite of administrative process and service enhancements that synchronize current operating systems to support service level agreements, consolidate user interface for repossession platforms in the market, and provide a robust compliance engine managing potential exceptions in real time.

2019 yielded 40% year over year growth in one of the most competitive employment markets the U.S. has experienced.  Implementing SysHub will ensure scalability for continued growth and allow Loss Prevention Services to focus on the depth and accuracy of information increasing success rates for vendors and clients alike.  Growth in 2019 was a balanced mix of new clients, increased performance metrics on the existing portfolio, increased client market share and scope of service offerings which is expected to continue in 2020 and beyond.

“We deliver a service offering that is sought after because we focus on our role and greatest benefit to our clients.  Using our consultative approach to truly understand our customers becomes our directive for procedures that are the natural outflow of our client’s processes.  We deploy expertise in our core competency, collateral location and recovery services, so that our clients can focus on their internal focus and goals” said David Cowlbeck, President and CEO of Loss Prevention Services.

About Loss Prevention Services

Loss Prevention Services, LLC is a leading repossession management service provider to the auto finance industry. Loss Prevention Services provides a 24/7 call center staffed with over 150 employees, a repossession agent network of over 950 agents across the country, and SOC 2; Type 2 in compliance certification renewed on an annual basis.  The SOC 2 scope includes all five service trust principles: Security, Availability, Confidentiality, Privacy, Processing Integrity.