LOS ANGELES, May 16, 2017 /PRNewswire/ — Acuant, a leading provider of data capture and authentication solutions, today announced a partnership with eLEND, an automotive technology company, to streamline credit check and financing processes for auto dealerships. eLEND works with more than 3,000 auto dealerships, representing all brands, and is integrated with all major CRM platforms.
Acuant’s AssureID™ and AcuFill™ technology enable dealerships to quickly scan a customer’s ID card, verify demographic information, check for history of fraud or other financial red flags, and automatically port all this information into a database. The integrated technology is proven to reduce the average transaction time by 60 minutes, representing up to a 30% improvement over paper-based, manual entry processes.
“Improving the consumer experience is an enormous challenge facing car dealers today,” said Pete MacInnis, CEO & Founder of eLEND Solutions. “Acuant’s identity verification is a key component of our ID DRIVE product. Our combined solutions are shaving 60 minutes off average transaction times, while increasing sales and profits and improving the consumer’s car buying experience. This is a big deal. Acuant is a great partner for us.”
With Acuant’s technology, OCR scanning also converts information captured from driver’s licenses, passports, and other government-issued IDs into text format. The system then checks the information against DMV and other records, and auto populates applications the dealership uses for CRM, financing, and regulatory compliance. eLEND’s platform also offers hard and soft pull credit solutions to automotive retailers. Combining the two technologies, the driver’s license can triggers a consumer consented pre-qualification with no social security number requirement, jumpstarting the buying process.
“We are excited to work with eLEND to empower auto dealers to bring financing to the front of the sales process,” said Yossi Zekri, President and CEO of Acuant. “Capturing information and verifying potential customers early in the sales engagement process leads to higher closing ratios, a better customer experience, and more profitable deals. Everyone involved benefits when we can cut deal-making time from hours to minutes.”
Acuant solutions are cloud-based and mobile ready, which means customer engagements can originate online or on the lot, and can be picked back up from any point if interrupted by the customer. Capturing quality, vetted data at the entry point carries through all back-end processes to positively impact everything from first handshake to final insurance certification.
For more details on Acuant and eLEND’s use of this industry leading information capture and authentication solution, please visit https://www.acuantcorp.com/case-studies/elend_assureid_idverification/
Acuant Inc. is a global technology company that provides comprehensive Identity Verification solutions responding to various levels of risk and assurance requirements. Utilizing patented technology Acuant transforms data intake into a business-enhancing proposition while instantly reducing the risk of fraudulent transactions.
Acuant’s intelligent engineering is made to work in any industry in any environment with compatibility for Windows, iOS, Android, Hybrid and HTML 5- and built to allow meeting the highest level security requirements and regulations such as KYC, PII, HIPAA and AML. Partners include start-ups, Fortune 500 and FTSE 350 organizations.