Car buyers are almost universally starting their auto buying journey online. Progressive auto dealers are also embracing digital transformation in the transaction process. Following the selection of a vehicle, whether online or at a dealership, customers can now complete their purchase and apply for financing digitally. Buyers appreciate this easy, seamless process, but it does create new challenges for the dealer.
Dealers must authenticate customers during onboarding to prevent fraud and comply with anti-fraud regulations. They need the ability to verify customer identities online, something that previously was handled through in-person checks and physical documents.
CRIF Select’s digital onboarding verification (DOV) system offers a proven solution. It’s a fast, fully-automated onboarding and identity verification solution. Powered by artificial intelligence, DOV can verify customers in real-time and screen for fraud.