CalAmp Announces LenderOutlook(TM), a Comprehensive Tracking and Asset Protection Solution for Vehicle Finance Lenders

Expanded Service Now Includes Mobile Applications for Smartphones and Tablets That Dramatically Simplify Installation and Display Vehicle Location on Demand

Marketwired

OXNARD, CA--(Marketwired - Nov 4, 2013) - CalAmp (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, has introduced LenderOutlook, an advanced vehicle protection service for vehicle finance companies and buy-here-pay-here (BHPH) auto dealers. LenderOutlook provides a comprehensive suite of desktop and mobile applications to reduce capital risk, improve loan portfolio performance and facilitate recovery of stolen or in-default vehicles.

Targeting credit unions, leasing companies, large BHPH dealers and sub-prime automobile finance companies, CalAmp has developed a sophisticated solution to the problem of managing large loan portfolios and multiple dealer accounts. LenderOutlook leverages CalAmp's market-leading GPS communications devices and service platforms and incorporates the extensive track and recover features required for reliable payment assurance and asset protection. Additionally, LenderOutlook facilitates managing large portfolios with such features as:

  • Account hierarchy for ease of creation and management of lender and dealer subaccounts
  • Automated, bulk transfer of dealer accounts between lenders and dealers
  • Advanced Application Programming Interface (API) for ease of integration with lenders' loan management systems
  • Online service activation and renewal to simplify device management and reduce service costs
  • Online store for easy ordering and control of device inventory

The LenderOutlook solution also includes two new mobile applications that simplify the installation, management and recovery of vehicles, MobileInstall and MobileLocate.

MobileInstall
The new MobileInstall app speeds up the installation of CalAmp wireless devices in the vehicle, allowing the installer to use a smartphone or tablet camera to scan the VIN and device ID, and automatically enter the information into the LenderOutlook database for quick and easy account set-up and device activation. The smartphone/tablet mobile app also automatically tests to verify proper installation, eliminating installation errors and assuring that reliable protection is in place.

MobileLocate
The new MobileLocate app lets lenders view the location and status of their vehicles at any time on a smartphone or tablet, and allows lenders and repossession partners to remotely locate and manage vehicles. Through continuous monitoring, lenders know when vehicles are on the move and can initiate recovery promptly in the event of default.

"CalAmp is the leader in reliable and scalable vehicle tracking and protection services for lenders and vehicle finance companies," said Mike Zachan, senior vice president and general manager of CalAmp's Wireless Networks business. "Our LenderOutlook vehicle finance solution provides sub-prime lenders, banks, credit unions and large dealerships with a comprehensive application that goes far beyond just locating and recovering vehicles."

About CalAmp
CalAmp (NASDAQ: CAMP) is a proven leader in providing wireless communications solutions to a broad array of vertical market applications and customers. CalAmp's extensive portfolio of intelligent communications devices, robust and scalable cloud service platform, and targeted software applications streamline otherwise complex machine-to-machine (M2M) deployments. These solutions enable customers to optimize their operations by collecting, monitoring and efficiently reporting business-critical data and desired intelligence from high-value remote assets. For more information, please visit www.calamp.com.

Contact:
AT THE COMPANY:
Justin Schmid
Sr. VP of Marketing and Business Development
(805) 987-9000

AT ADDO COMMUNICATIONS:
Lasse Glassen
General Information
(424) 238-6249
lasseg@addocommunications.com
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