With fraud continuing to be a potential problem in auto financing, 700 Credit announced this week its suite of products, including credit reports, compliance solutions, prescreen and consumer pre-qualification products and services, is now integrated within RouteOne’s IDOne solution, a full-service identity verification tool that can help manage compliance tasks.
The companies highlighted IDOne from RouteOne is designed to make it easy to help protect a dealership by validating a customer’s identity and pinpointing potential fraud every time a credit report is pulled within the RouteOne platform. IDOne uses multiple databases in the verification process to identify discrepancies and will automatically generate an authentication quiz in real-time if identity is not initially verified.
“Identity verification is a critical component of the funding process today given the steep uptick in various types of fraud and identity theft,” 700Credit managing director Ken Hill said. “Connecting with RouteOne to provide IDOne enables dealers to have the peace of mind every time they pull credit that if the consumer is attempting a fraudulent purchase — or some information does not match up — our solution will flag the process and ask for more identifiable information before the transaction can proceed.”
RouteOne senior vice president of product Amanda George added, “RouteOne is proud to offer a robust set of tools to dealers that helps them manage their daily compliance activities.
“Welcoming 700Credit to our identity verification solutions further enhances our product offering,” George went on to say.
For more information on the integration, call (866) 273-3848.