Frequently Asked Questions

Quickly find answers to our most common inquiries.

How can I adopt LPRkloud for my company?

It’s simple! Just contact MBSi at sales@lprkloud.com and we will do the rest! 

How does LPRkloud reduce my risk?

MBSi’s LPRkLoud leverages our current LPR Vendor integrations to receive a single Lender LPR Assignment and automatically place the assignment with each of the Lender’s LPR Vendors. After LPR Assignment placement, LPRkloud automatically manages the assignment status across all LPR Vendor assignments. If the assignment is closed by the lender for payment all LPR Assignments are automatically closed. Likewise, if one of the assignments is recovered all other assignments are closed. This eliminates the need for manual assignment management and therefore reduces the likelihood of mistakes.

What LPR Vendors are integrated with LPRkloud?

LPRkloud is currently integrated with DRN, MVTrac, PRA Location Services and Plate Locate.

As a Lender, do I need to onboard all of the LPRkloud integrated LPR Vendors?

No! While LPRkloud allows a lender to automate the distribution of LPR Assignments across all of the integrated LPR Vendors, the LPR Assignment placement and status management works for a single LPR Vendor as well.

Does LPRkloud handle payments to the LPR Vendors?

No! The Lender to LPR Vendor relationship is preserved in the LPRkloud process.

As a lender, what do I need to do before using LPRkloud?

Onboard one or more of the LPRkloud integrated LPR Vendors and then contact MBSi at sales@lprkloud.com.

Is LPRkloud available to repossession forwarders?

Yes! Contact MBSi to learn more.

Is LPRkloud available to repossession service providers?

Not directly! Service Providers benefit from LPRkloud indirectly as LPR Assignment recovery opportunities are generated.

What is the cost to participate in LPRkloud?

Lenders and Forwarders pay a nominal monthly fee to participate with one or all LPRkloud-integrated LPR Vendors.

Do I need to be an iRepo Lender to utilize LPRkloud?

Not necessarily! Contact MBSi at sales@lprkloud.com for more information.
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