Finance Solutions

Overview
Features
Benefits

Solutions For Finance – Overview

Sekurus® International’s Finance Solutions provides the means for credit unions and banks in solving bad credit problems by making it possible for a vehicle buyer to purchase a car, truck or any other vehicle even though the buyer has a history of slow credit, repossession or bankruptcy. Sekurus® Finance Solutions offer a variety of solutions designed to fit the needs of any franchise dealership, independent dealership or finance company whose goal is to protect their assets. Through the proven SekurPay® payment protection device, the solution assists the vehicle owner in changing their payment behavior .

SekurPay® is flexible, legal Payment Assurance Solution that may use telematics technology to turn credit challenged prospects into paying customers. SekurPay® reminds the vehicle operator when payments are due or it will disable the vehicle if the loan payments are not made on time.

SekurPay® is the most economical and powerful Payment Assurance Solution and stand-alone mobile tracking devices available today using telematics technology.

Telematics is the blending of computers and wireless telecommunications technologies, ostensibly with the goal of efficiently conveying information over vast networks to improve a host of business functions.

Utilising GSM/GPRS, TCP & UDP IP and CSD communication together with GPS technology, SekurPay® Finance Solutions provides comprehensive payment protection and asset security facilities to the loan financer.

SekurPay® core functionality and business benefits add a layer of flexibility to those organizations where payments are required to be managed in a more flexible manner.
This enhancement offers the flowing key benefits to such organizations in terms of flexible contract management and installation procedures:

• Simplifies the management of contracts
• No “catch up codes” required
• Handle Bankruptcy cases
• Handle changing consumer credit laws.
• Enable banks to provision and control units.
• Simplifies pre-installation
• Reduce support requirements

SekurPay® allows the company to accept partial payments and enable the vehicle for proportionate periods. Thus in cases where a client wishes to pay half of the scheduled installment it is possible to enable the vehicle for half of the payment cycle.

SekurPay® makes it possible to change a number of contract parameters without reprogramming the device. It also facilitates the extension of an existing contract or creation of a sub contract without reprogramming the device, thus eliminating the need for additional codes. SekurPay® allows changes to the following without reprogramming:

• Number of installments
• Installment date
• Amount per Installment

Industrial Solutions For Finance - Features

Providing a wide range of solutions, Sekurus International SekurPay® address several of the industries most recognized needs.

SekurPay® can change its behavior based on special remote instructions, thus eliminating the need to reprogram for changing basic parameters which can be used to alter Grace Days, GMT Offset and Shut-off time.

All change mode commands released definitely lock out the device, thus an enable is also released by the application to re-enable the vehicle.

Payments can be scheduled for any day, or can allow payment changes without re-programming the device. SekurPay® allows changes, for example, from weekly to monthly and back again. Allows payment changes from, for example, Fridays to Mondays. SekurPay® allows the skipping of a payment and adding one later.
Any missed payment does not need to be sent to the SekurPay™ device.
The Emergency enable allowance. A command is sent to the control center application and an emergency trigger is released and returned to the device automatically. The organisation may reduce the number of Grace Days to compensate if they suspect abuse. The device includes an internal GSM/GPRS modem, proving both TCP/IP and UDP/IP, CSD and SMS communication between the device and the control center application. Where GPRS coverage is unavailable any emergency events are shifted to SMS.
SekurPay® devices are programmed at the factory and NOT by a local pc. This is essential to allow remote payment flexibility, for example, if the local pc clock or date was wrong then the codes would lose their synchronization. SekurPay® understands Time Zone settings so that users from all over the world can set a Shutoff Time of 11.59 pm and remain locally accurate.
SekurPay® allows the organisation to automatically send the parameter triggers to SekurPay® device therefore provides the benefit of a wireless management process that eliminates customer intervention. All the device’s options are fully configurable and upgradeable through communication with the control centre application.
SekurPay® proactively reminds the customer that payment is due prior to the payment due date being reached. The reminder period is a configurable item set at the organisation’s discretion.
SekurPay® is configurable in terms of locating the vehicle when it has been disabled. This feature is organisation driven and may be set to automatically advise the SekurPay® application or may be set to be passive. Such triggers are returned to the application to notify the vehicle recovery team if required.
SekurPay® parameters can also configure/setup. OTA configuration in case the GPRS network is not available the codes can be sent by SMS.
SekurPay®allows the vehicle to be disabled or enabled automatically and/or remotely via the application. This allows the organisation to remain in control of their asset and also protects the customer in case of vehicle theft. The solution performs a Gradual Motor Arrest that allows the organization to send a code to gradually decelerate the vehicle until it comes to a full stop.
SekurPay®-GPS allows the vehicle to be disabled or enabled automatically and/or remotely via the application. This allows the organisation to remain in control of their asset and also protects the customer in case of vehicle theft. The solution performs a Gradual Motor Arrest that allows the organization to send a command to gradually decelerate the vehicle until it comes to a full stopin case of vehicle theft.
A tamper alert is sent to the finance company in the case of tamper detection.
A 12 channel GPS sensor is integrated with the antenna for improved reception sensitivity ensuring efficient and accurate vehicle location. The GPS sensor is connected to the device via a serial port ensuring covert installation.

Practical, Achievable and Tangible Benefits Main Financial Gains:
Possible lower down payments. More approved loans. Possible longer terms. Lower monthly payment and the potential offer of higher quality vehicles. Lower delinquencies. Frees more cash for capital purchases. Drastically reduces stolen vehicles. Increases sales at all levels. Considerable lower interest loans when applicable. Dramatically reduces 1st payment defaults.	Reduces write offs. Drastically reduces repossessions & increase redemptions. Improves cash flow. Reduces collection efforts. Easier Management of collections. Attracts higher quality sales people Increases Customer Retention. Potentially helps customers repair their credit. Increases referrals. Reduces advertising expenditures. Enhances name recognition.

Finance organizations can make use of SekurPay®in a wide range of ways including the following: :

SekurPay®offers a roadside assistance facility to be initiated when a customer has an accident or some other type of breakdown with their vehicle, the service provider sends a tow truck or repair shop vehicle, according to the case, from its network suppliers to the place of the incident. SekurPay®will send the alert to the service provider who will locate the vehicle and communicate directly with the customer in order to identify the nature of the required assistance. It can be contracted by the Financers Insurance department or external Insurance companies.
SekurPay®offers the financing company the opportunity to negotiate lower vehicle insurance premiums on the loaned vehicle. This is due to the loan underwriting requirements possibly being reduced as the loan is more comprehensively secure both in terms of payments and as a physical asset that can be located and recovered in the event of payment delinquency.
SekurPay®GPS immediately transmits a real time alert to the control centre application where the vehicle’s security system input is activated, or in the case of tamper. Such security monitoring protects the financer’s asset throughout the loan period thus allowing underwriting to be reduced.