GM Financial is enhancing its efforts to ensure the individuals signing contracts with the captive are in fact who they say they are.
This week, GM Financial announced its collaboration with Spring Labs as part of its Spring Founding Industry Partners (SFIP) Program, which is geared to drive improved data management standards to help address critical auto finance industry issues like identity verification and synthetic identity fraud.
The SFIP program brings together financial institutions, data furnishers and technology partners to collaborate on research, development and implementation of Spring Protocol, the company’s blockchain technology network, prior to its public launch. Ultimately, this network is designed to transform how information and data are shared globally.
“As the captive finance arm for General Motors and one of the world’s largest auto finance providers, we are continually innovating and evolving our fraud prevention and detection capabilities to better serve and protect our customers and dealers,” said Mike Kanarios, chief strategy officer at GM Financial.
“Today’s announcement underscores our commitment and investment to advance these efforts, and we are pleased to collaborate with Spring Labs as a member of the SFIP program,” Kanarios continued.
Spring Labs chief executive officer Adam Jiwan added, “We are excited to partner with GM Financial to create solutions on our developing network to address vexing economic problems such as identity fraud.
“We look forward to announcing additional significant partnerships in due course,” Jiwan went on to say.
Editor’s note: More details about what’s happening at GM Financial will be showcased in an upcoming episode of the Auto Remarketing Podcast, featuring Kyle Birch, who is the company’s executive vice president and chief executive officer for North America. Previous episodes are available here.