For months now we have been sharing a new tool for fighting finance fraud for dealers, TRUSTii.
Finance fraud is almost as big a problem as auto theft in our sector, and ID theft, fake ID’s and other scams are at the heart of the problem.
In recent weeks we have seen messaging from banks, like the CIBC and TD, suggesting the kind of tools TRUSTii offers dealers will no longer just be a nice thing to have, but more like a requirement banks will look for in making their funding decisions.
More and more financers are expecting to see ID verification happening at the point of sale.
The solution TRUSTii offers you means, in minutes, any photo ID, drivers licence, Indian Status Card, passport, etc., can be run on the system to check if the photo and ID are real and can be trusted.
All UCDA members can access this affordable tool at www.ucdaseaches.com
By verifying both the individual and their ID, the risk of fraud is significantly reduced and it can also streamline your process by quickly and efficiently verifying customers’ identities.
The customer does not have to be at the dealership, since the verification is completed by the customer.
The verification process involves five simple steps:
- Sign in to ucdasearches.com
- Click on the “Trustii Identity Verification Service” button at the bottom of the page
- Fill in the customer’s name, cell phone number, email address and click “submit”
- The customer receives a link, takes a photo of their ID, and a selfie using their own cell phone.
- Results are displayed within minutes at ucdasearches.com
Take advantage of this program, strengthen your security measures, protect your bottom line AND GET FUNDED with legitimate buyers.
UCDA members pay only $3 per completed search ($3.99 to everyone else).
Join an expert-led webinar session by TRUSTii to learn about howbiometricverificationworksforyourlendingpartnersandthe FINTRAC requirements on August 13th at 11 AM – sign up https:// solution.trustii.co/mnp-trustii-ucda.