Intellicheck has partnered with Agility Credit, an approved automotive credit bureau reseller, to add its identity verification to the platform Agility Credit offers car dealerships for credit data, fraud prevention and compliance enforcement.
Under the partnership, Intellicheck provides what the companies call the front-door layer: verification of the ID a customer presents before the dealer pulls a credit file. Agility Credit then adds credit data, device intelligence and red flag workflows as part of what it calls its Multi-Layered Approach to Fraud Detection.
The companies say the combination is designed to help dealers spot synthetic identities, stolen identities and credit-washing attempts at several points in a deal rather than relying on a single check. Dealers can see credit bureau data alongside tools to verify the person in front of them, and document identity checks and red flag workflows for each deal.
Credit washing, as TransUnion defines it, is the removal of accurate but unfavorable data, such as charged-off accounts or hard inquiries, from a consumer’s credit report before it becomes obsolete. Under the Federal Trade Commission’s Red Flags Rule, many businesses must run a written identity theft prevention program to detect warning signs, or red flags, in their day-to-day operations.
“A credit decision should start with confidence in the ID presented, not just the information in a credit file,” said Bryan Lewis, CEO of Intellicheck. He said the company expects the partnership to help it grow its automobile dealer scanning volumes.
“Fraud at the dealership has changed. Bad actors now walk in with stolen identities and fake IDs good enough to fool the human eye,” said Darrel Schulte, co-founder and CEO of Agility Credit.
The partnership extends Intellicheck’s channel model, under which partners build its identity verification into their own offerings and deploy it with their clients. In August, the company said a channel partner had deployed its technology at one of the world’s largest investment management companies as it expanded into wealth management.
Intellicheck’s software-as-a-service checks rely on its analysis of IDs issued by state departments of motor vehicles, in person and digitally. The company says it processes identity transactions for almost half the adult population of the United States and Canada each year.
Sources: Business Wire, TransUnion, Federal Trade Commission
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By the ID Tech Editorial Team
