The British Vehicle Rental and Leasing Association (BVRLA) has today announced a new version of its risk management software, RISC.
Developed by software provider Nexus, the new-look RISC includes improved functionality to help vehicle rental and leasing companies to identify and mitigate risks.
The revisions made to RISC make it easier for members to search for details of prospective renters and log new incidents of problematic customers. A heat map of the UK shows members where risk activity is being reported in real time, whilst the BVRLA can monitor incidents to issue general alerts on everything from identity fraud to a spike in the number of renters showing up with authentic-looking utility statements from bogus websites. The new platform means that RISC can also be integrated more easily into members’ in-house software using an API.
Commenting on the revised RISC platform, BVRLA Director of Member Services Nora Leggett said: “RISC is now an even more powerful loss prevention tool for our members. Opportunistic fraudsters and high-risk customers have become adept at sharing information to exploit vulnerable businesses. The collaborative environment of RISC will harness the power of the BVRLA community and help safeguard valuable assets.”
Some of the most common reasons for reports on RISC include non-conformance with terms and conditions, lack of payment, damaging the vehicle and abusive behaviour towards staff.
Leggett added: “We already have a fantastic, active community and these revisions to RISC mean there’s no reason not to use the system. Though RISC has been known as a rental tool, there is great potential to increase its capability and reach so it meets the needs of all members - leasing brokers, leasing companies and commercial vehicle operators.”
RISC is the BVRLA’s credit and operational risk management tool. Developed in the 1980s, the Rental Industry Secure Customer database was designed for BVRLA members to gather and share information about problem customers legally.
About the BVRLA
Established in 1967, the British Vehicle Rental and Leasing Association is the UK trade body for companies engaged in the rental and leasing of cars and commercial vehicles. Its 700+ members operate a combined fleet of 3.8 million cars, vans and trucks. BVRLA members buy nearly half of all new vehicles sold in the UK, supporting around 317,000 jobs and contributing nearly £25bn to the economy each year.
By consulting with government and maintaining industry standards, the BVRLA helps its members deliver safe, sustainable and affordable road transport to millions of consumers and businesses. For more information, visit www.bvrla.co.uk.
For more information, contact:
Toby Poston – Director of Communications & External Relations
tel: 01494 545700
mob: 07979 756533
Jamie Fretwell - Media & Communications Officer
tel: 01494 545710
mob: 07790 271806