KNOXVILLE, Tenn. — PROCON Inc. unveiled LoanPlus, a new payment assurance technology brand, which uses GPS telemetrics, customized Web services and customer service teams to support financial lending institutions in their collections and operations management.

 “Our on-going involvement with the banking industry has shown us lenders require special attention involving both industry experience and client- specific support. To meet these needs, we have established a unique team of experienced people and technologies to serve the banking community in their efforts to protect their loan assets," said Tim Welch, PROCON chief operating officer.

To support this new brand, PROCON has formed the Lender Services division, which has a dedicated IT, account management, and field services staff to provide support and continuous improvement skills on a client-centered basis.

The division is headed up by Jim Giammarco as vice president. Giammarco has experience as a dealer/owner and a senior manager in a major financial institution, along with significant experience in the GPS technology field. His active personal involvement in subprime consumer lending and wholesale financing has brought new dimensions to the application of GPS technologies in these markets.

Giammarco states, "Lenders are looking for ways to secure their loans, improve collections and reduce costs all at the same time. We all know capital is difficult to acquire in today's market, so lenders must get as much value as possible from the resources they have available. We can definitely help them.

"No two bank clients have been the same so far, and the main issues tend to be security of information and privacy matters. We address these concerns with our unique programming and hardware technologies," he added.

For more information about LoanPlus, visit www.loanplusgps.com.