FORT WORTH, Texas — Digital Recognition Network recently entered into a partnership with newly created DRN Financial in order to offer affordable financing terms to repossession-related companies that wish to acquire its license plate recognition technology.

Officials believe that the new financing offered by DRN Financial can allow professional recovery agents to finance the cameras on a monthly basis for less than the price of a single repossession. They can provide these cameras to their affiliates at a reduced cost to ensure that the recovery industry has access to this technology.

Digital Recognition Network highlighted that more than 250 recovery agencies throughout the United States have purchased more than 1,200 of its license plate technology camera kits. Company officials claim the kits can successfully boost recovery rates and improve operational efficiencies.

They also noted that the expense has been a barrier to some repossession companies that wish to take advantage of this innovative technology.

"Our investor group is 100 percent committed to making this technology available to every professional recovery agent in the country," noted Tim Stanley, managing director of DRN Financial.

"It is our goal to finance no less than 1,000 new cameras by the end of the second quarter of 2010, which would expand the reach of DRN's network to over 2,200 LPR camera kits in operation nationwide," Stanley added.

Since its inception, Digital Recognition Network contends that it has developed a thriving national network of professional recovery agents who actively operate license plate technology camera kits in more than 200 metropolitan areas. Officials emphasized that these affiliates are generating impressive results that make the investment in DRN's LPR technology a beneficial addition.

Company officials also pointed out that their technology has captured the attention of many reputable lenders such as Santander Consumer USA and Toyota Financial Services. They claim active affiliates can realize at least 30 real-time, DRN-assisted recoveries each month, with some affiliates reporting more than 200 total recoveries per month.

"DRN's LPR technology has given our business a tremendous lift in a very short period of time. The time and resources we have invested in this system have created results that far outweigh the minimal process changes required to implement the technology," noted Michael Allen Jr., president of Michael P. Allen & Associates.

"The LPR2.0 program has created a sense of excitement and urgency among our clients and has elevated our ability to generate growth and value for our business. We are proud to partner with DRN and anticipate even greater returns in the future," Allen added.

Another executive in the recovery industry added his assessment about Digital Recognition Network's industry tools. Boris Jurkovic is president of Reliable Recovery Services.

"With LPR2.0, we are locating and recovering over five cars per day," Jurkovic stated.

"Since the introduction of the self-loader, nothing has done more to energize our business than DRN's LPR technology," he continued.

Jay Newman, vice president of Digital Recognition Network, reiterated the financing options now available can add to the list of recovery agencies enjoying successful business development.

"We consider this another exciting new development for Digital Recognition Network. While we have experienced exceptional growth this past year, the partnership with DRN Financial fills a void that we have long felt was imperative to maintain a high rate of growth and satisfaction among our affiliates," Newman explained.

"By providing an affordable financing solution, new and existing affiliates can now finance this technology and pay for their investment every month by the incremental repossessions facilitated by LPR2.0," he went on to say.

"With the success of our nationwide LPR2.0 and Buy-It-Now programs and a promising forecast of opportunity ahead, it is an ideal time to become a DRNAffiliate," Newman concluded.