700Credit and eLEND Solutions Partner to Help Auto Dealerships Prevent Identity/Financial Fraud
Summary
The integration is designed to help auto dealers protect their business and reputation from the serious and growing threat of identity and financial fraud and classify their showroom traffic by looking at their FICO score. The combination of document and data verification between 700Credit and eLEND’s products offers auto dealers powerful protection, while also enabling rapid digital data capture and export.” Building on integrations already in place between the companies, the seamless addition of ID Drive means that 700Credit dealer customers can rapidly confirm identity and pre-screen their showroom clients through the ID Drive scanner at the beginning of the sales process. “We are so proud to partner with 700Credit to further extend the benefits of ID Drive to auto dealers and consumers alike,” said Pete MacInnis, CEO and Founder of eLEND Solutions. And, of course, the purified authentication information protects the dealership from identity and financial fraud risks.” MacInnis noted that in a 6 month case study with a high profile franchise dealer using ID Drive, transaction times were reduced by 60 minutes, PVR went up $300 and CSI scores went up 4 points. By changing when and how the shopper is introduced to realistic payment information and dealership financing options, the combination of technology and data enable the dealer and the customer to come together much faster, and more profitably.