DEERFIELD BEACH, Fla. -- Automotive finance company World Omni Financial Corp., has acquired Monetrics, a provider of automated risk decisioning software and services for the consumer finance industry. The acquisition expands and enhances World Omni’s range of products and services in the financial services arena.

Monetrics, founded in 1999, provides software services that deliver high quality loan underwriting and portfolio analysis solutions. Using patent-pending relational technology capable of evaluating thousands of loans quickly and accurately, Monetrics provides risk decisioning support across the loan life-cycle – from originations to collections and portfolio acquisitions.

"Monetrics' software is a technological breakthrough for the automotive industry," said Brent Burns, president of World Omni Financial Corp. "It increases the amount of loan application volume that can be automatically evaluated from the current industry average rate of 20 percent to more than 70 percent."

"Prior to implementing Monetrics Decision Engine (MDE), World Omni was automating approximately 20 percent of all of our loan approvals (delivered to a dealer with no human intervention)," Burns said. "Immediately upon implementing MDE, the automated approval rate increased to 51 percent of all approvals. The product continues to be an invaluable resource for World Omni and our credit analysts. We have been able to drive very high levels of approval automation while protecting portfolio quality."

  • Highlights of Monetrics suite of products and services include:

    Monetrics Decision Engine (MDE), a complete auto loan decisioning system that automates every aspect of loan and lease decisioning for all credit risk tiers.

    Combining borrower credit attributes with collateral valuation and deal structure, MDE produces decisions complete with stipulations, advance rates and counter-offers. With MDE, underwriting decisions can be made in as little as 12 seconds with consistency and accuracy.

    Portfolio Evaluation Manager (PEM) Suite is comprised of two services -- PEM: Collections and PEM: Acquisitions. PEM is an automated service that updates the current risk status of any portfolio, loan by loan.

    PEM updates borrower credit attributes and collateral valuations and combines this current information with loan balances and payment history to provide a concise risk segmentation of your entire portfolio. For collections professionals, this information means having the ability to quickly target loans requiring accelerated collections activity. Portfolio buyers use this information to refine their acquisition price.

  • Two of the company’s newest products include:

    Monetrics Sentinel — which delivers an unobtrusive decision quality assessment and audit that enables lenders to immediately detect variances from underwriting policy and address potential quality issues before profitability is negatively impacted. Sentinel helps lenders audit policy adherence and troubleshoot areas of decision inconsistency easily and effectively.

    Monetrics Accelerator — is a comprehensive risk decisioning system. Powered by Monetrics relational technology, Accelerator reviews the referred and declined loan applications from the existing technology and decisions each, delivering consistent, accurate and fully documented decisions in 12 seconds or less. Accelerator achieves the highest levels of decision automation available today.

    • 0 Comments