Big data. How you can use it — or shouldn’t. Changes in regulators. Should I be paying more attention to state or federal regulations, the CFPB or state Attorney Generals? The ins and outs of GPS systems and how you can use them. The list goes on.
There’s no doubt about it. The sands are shifting in the repo industry, and there are more challenges, questions and opportunities in this sector of the remarketing world than ever before.
Used Car Week’s Repo Con event, sponsored by Millennium Capital & Recovery Corp., and scheduled for Nov. 12-14 in Scottsdale, Ariz., will cover these concerns and more through expert sessions from some of the biggest names in the repo industry: Think DRN, the American Recovery Association (ARA), PAR North America, RISC, Del Mar Recovery Solutions, MBSi, CARS, Primeritus, masterQueue, PassTime, Advanced Remarketing Services … and many more!
To kick things off, Millennium’s Jeff Marsh, CMO and EVP, will lead a discussion on the evolving role of national recovery vendor management firms, with panelists from CARS, PAR North America, Primeritus, ALS-Resolvion and Del Mar Recovery Solutions.
Even though there have been dramatic changes at the Consumer Finance Protection Bureau (CFPB) during the past year, compliance remains a crucial part of vehicle repossession. Compliance and other standardization processes will be among the topics touched on by this panel, as experts in the biz look to explore where compliance stands after CFPB changes and value-added benefits of the “forwarder” role in optimizing national loss recovery.
Also, stay tuned for the “Popcorn” repossession report, during which Dave Kennedy, president of ARA, will cover what’s popping in the collateral recovery business, including predictions for the next 2-3 years. Kennedy claims the industry is currently going through more changes than it has in 50 years — so you might not want to miss this update.
Speaking of updates, John Sibbitt and Jesse Herdrich with PAR North America will be providing their “Repo Report,” as well, covering new tech, heightened security and compliance requirements, and new tools to help you perform recovering more efficiently.
And if anyone’s role in the repossession industry has perhaps changed the most over the past few years, it’s that of the repossession agent themselves. But don’t worry, RISC CEO Stamatis Ferarolis will be offering a list of “Do’s and Dont’s” for those individuals during which he will provide real-life scenarios when recovery agents have caused liability and reputational risk — so you don’t have to come up against the same challenges.
So, it’s no surprise, since big data is working to change just about every industry out there — yep, you guessed it, it’s changing the repo world, as well. Big data, machine learning and AI are the water cooler topics of the year in today’s repo and recovery businesses.
As such, we have to cover them at Used Car Week, of course. (I mean, what are we here for if not to cover what YOU want to learn more about?)
Here’s the rundown on our sessions focused on the intersection of the repo industry and big data:
- Select Remarketing Groups’ Jeff Blackwell will be leading a panel including Joe Hearn, of Advanced Remarketing Services. The panel, “Success through Triage and Segmentation,” will focus on how artificial intelligence isn’t an automatic fix for the recovery industry. “We need to be asking the right questions of our data,” says Hearn. He contends any organization reluctant to share their data and discoveries are going to be stuck behind the collective intelligence of the crowd.
- masterQueue’s John Lewis has organized a roundtable discussion on how big data and AI pay dividends in repossession, including experts from USAA, Southeast Toyota Finance and BBVA. Don’t miss the discussion on the opportunities to create efficiencies through the use of data and technology in the collection process, and specifically in regard to how it relates to repossession.
- How Predictive Analytics can Improve Recovery Success Rates and Improve Efficiency; Steve Schroeder, RepoRoute
Did I mention we’ve tried to cover ALL aspects of the repo and recovery industry for our Repo Con attendees? If you aren’t convinced. Here’s a few more options to change your mind:
- Crossing the Chasm in the Repossession Industry; Terry Groves, CARS.
- Proper use of Electronic devices in the Post Repossession Minefield; Corinne Kirkendall, PassTime and Eric Johnson, Hudson Cook, LLP
- MBSi Lender Panel: Speakers include moderator Cort DeHart, MBSi Corp., plus a stellar lineup of lender panelists: Sam Van Scoyoc, MBSi; Mark Mooney, Exeter Finance; Danny Valdes, Ally Financial; Jesse Herdrich, PAR North America; Karen Townsend, SWBC.
- Connecting your customer through GPS; the wave of the future is here; a panel led by Brian Deeley of Spireon. Panelists include Doug Turner, JD Byrider and Brooks Stewart, Bridgecrest
Any of these offerings pique your interest? Then make sure to register for Used Car Week 2018 before Oct. 16, when registration goes up by $300. Spend some time on our site to learn more about these sessions, speakers, and to check out the 2018 attendee list.