New technology from Point Predictive and a CreditMiner-TransUnion partnership allow dealerships to take a more active role in preventing borrower fraud.
BorrowerCheck for Dealers is "the first in a planned series of products for dealers" leveraged from the fraud analytics firm's vast database of records including income reports, loan applications, fake employers and fraudulent loans. It is a resource previously only available to lenders.
Dealerships can check the customer's name, address and Social Security number and see if more proof is necessary, according to Point Predictive. The company also has created a new phone verification mechanism.
CreditMiner's new "Identify" software leverages TransUnion's ability to check a customer's driver's license image against a selfie and the records on the person ostensibly described in the license. It also evaluates the credibility of the customer's phone. Ken Luna, CreditMiner strategic partnerships vice preside…