Market Overview

Intellicheck and DealerSafeGuardSolutionS Collaborate to Protect Auto Dealers from Fraud

Share:

Intellicheck (NASDAQ:IDN) and DealerSafeGuardSolutionS are collaborating to put the brakes on the growing problem of fraudulent automobile purchases and leasing. Under the new cooperative agreement, DealerSafeGuardSolutionS will offer Intellicheck's Retail ID desktop and mobile app solution as part of its digital compliance enforcement platform to provide fraud protection to their more than 550 automobile dealerships' locations nationwide.

"Automobile dealerships are under increasing pressure from identity theft. Fraudsters are using stolen personally identifiable information to create sophisticated fake IDs to rip-off dealers. At the same time, lenders are moving to shift the burden of absorbing defaulted payment losses to the dealer. As a result of this collaboration, for the first time, dealers will have a comprehensive, integrated platform assuring them that every license is inspected and verified every time," said Doug Fusco, Founder and CEO of DealerSafeGuardSolutionS.

"We take our commitment to our dealership partners very seriously, which is why I was determined to find the right solution to address the critical need for fraud prevention. We evaluated Retail ID based on the recommendations of a major financial institution and law enforcement. We evaluated several programs and Intellicheck's Retail ID was the best. It's superior accuracy and speed was impressive. Retail ID meets the vital need to provide an engaging customer experience, while assuring that the dealer won't be duped by bad actors," explained Fusco.

Intellicheck's cutting-edge technology solution is coupled with the DealerSafeGuardSolutionS' Digital Compliance Enforcement program to provide automotive dealerships with a comprehensive digital software solution. It allows a salesperson to scan an ID to combine identification authentication with automation of the necessary controls and required dealer packet process that all dealerships must follow. The new all-inclusive platform provides another advantage because the necessary controls and processes occur even earlier in the sales process, which is an added benefit for dealers.

Intellicheck CEO Bryan Lewis noted, "Fraudulent purchasing and leasing agreements are not an isolated issue. They are sabotaging the bottom line of dealerships nationwide. Just recently, dealerships in Florida were ripped off for more than $200,000 on the sales of luxury cars by fraudsters using stolen identification. DealerSafeGuardSolutionS has taken a leadership role to address this significant problem that is growing at an unprecedented rate."

Intellicheck's Retail ID provides businesses with proven, real-time customer identification authentication that delivers a superior level of transaction and new account fraud protection. The cutting-edge software addresses consumer concerns over payment security and identity fraud, while delivering a frictionless customer experience. Retail ID supplies real-time identification authentication that is 99.9% effective, allowing retailers to realize the benefits of fraud prevention instantly and affordably.

Intellicheck is an industry leader in identification authentication and age verification. The company's proven technology solutions provide real-time customer identification authentication that prevents fraud, while delivering a frictionless customer experience.

About Intellicheck

Intellicheck (NASDAQ:IDN) is a trusted industry leader in technology solutions that stop identity theft and fraud with real-time identification authentication and age verification. We make it possible for our clients to increase revenues, improve customer service, and increase operational efficiencies. Under new direction, the company is focused on partnering with banks, credit card issuers and retailers to prevent fraud. Intellicheck also serves law enforcement agencies, national defense clients and diverse state and federal government agencies. For more information on Intellicheck, visit http://www.intellicheck.com/ and follow Intellicheck on Twitter, Facebook, or LinkedIn and on YouTube.

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com