MINNEAPOLIS, MN - September 05, 2017 - Argos Risk, a leading provider of third-party risk management services, announced today a new initiative to help address the need of indirect lenders who have to consistently and cost-effectively monitor the health of their dealerships.
“As we engaged with lenders, vendors and associations, we learned that increased regulatory demands and concerns in the auto-lending market are driving a need for more automated monitoring and better clarity into the health of dealerships” says Lori Frank, Argos Risk President and CEO.
Frank continues, “Over the past several years, the growth in indirect lending among credit unions has been steadily increasing, averaging over 15% and exceeding $150 billion in 2016. As these trends continue, and more cost-conscious lenders enter the market, demand for our services will increase.”
Industry leading credit unions, such as Keesler Federal, Georgia’s Own, SRP Federal, and JSC Federal Credit Union have been utilizing Argos Risk’s Surveillance™ service to stay informed and manage the risks associated with their dealership portfolio.
We are pleased to work with some of the nation’s leaders in indirect lending. Through these relationships we can garner insight and feedback directly from the front lines and then incorporate these findings into our services.
About Argos Risk
Argos Risk, based in Minneapolis, Minnesota, specializes in third party risk management services. The company's services assess the credit risk and business health of clients, vendors, partners, and competitors. Powered by their proprietary algorithms, known as Argonomics™, their services deliver data via a real-time dashboard and daily alerts. Argos Risk monitors thousands of companies for clients in a broad array of industries including financial institutions, manufacturers, distributors, wholesalers and businesses of all types. For more information, visit argosrisk.com.