The new connection between the companies is designed to help digitize payments, targeting smoother transactions for automotive dealers.
In-person inspections are inefficient and costly, but digital processes can pose fraud risk. Authentication solves the conflict for profits, customer satisfaction and greater competitiveness.
Challenges auto dealers may still face verifying identities
Take this series of steps to help protect your business from fraud by this method.
And you might want to hold onto those keys, while you’re at it.
Less than 1% say they collect a digital copy, validate and compare against DMV records.
Point Predictive fraud survey finds auto lenders fear worsening economic conditions will fuel a surge in fraudulent practices.
Financial crises have long served as a catalyst for fraudulent activity in the automotive industry.
Businesses involved in the automotive industry are realizing there is no single-source tactic to fraud prevention and are taking important steps to cover all possible bases to thwart the rising threat of fraudulent activity.
Point Predictive reports lenders saw record levels of fraud in the past year. Learn how to spot the red flags of fraud to reduce its affects.
