PALATINE, Ill. — MVTRAC announced today that it has partnered with Volkswagen Credit to help the company improve its collection procedures on defaulted vehicle collateral.

As part of this relationship, VW Credit will use MVTRAC's automated license plate recognition technology, in addition to the company's location and recovery systems.

"The location and recovery systems we use must be reliable and efficient, and we believe that MVTRAC is a great fit for our organization," said Mark Pipas, general manager of customer accounts for VW Credit.

"We expect VCI to benefit from MVTRAC's on-demand ALPR technology and centralized database systems, combined with the company's ability to locate difficult-to-find collateral," he explained.

Ted Brown, chief strategy officer for MVTRAC, added, "We are very proud to welcome VW Credit, one of the most respected names in the auto finance industry."

"We have made significant investments in our ALPR technology, as well as our employees and strategic partners, and we are very pleased to be selected by VW Credit," he continued."The addition of VW Credit further establishes MVTRAC as the premier leading auto finance technology provider and end-to-end recovery specialist firm."

MVTRAC basically specializes in using automatic license plate recognition technology. The company receives real-time license plate images from remote camera systems via the Internet and stores these images in a centralized database.

The company indicated that it is continuing to develop relationships with government agencies and third-party camera owners at traffic lights, tollbooths, airports, major transportation hubs, security centers and retail/commercial parking lots.

For more on the company, www.mvtrac.com.