Dealers have more offerings at their fingertips through a new partnership between a compliance solution company and an F&I platform.
700Credit, which provides credit reports, compliance solutions, soft pull, identity verification and fraud detection platforms, is partnering with iTapMenu, an F&I tool providing digital signature and payment solutions.
700Credit Managing Director Ken Hill said, “With the recent Federal Trade Commission (FTC) Safeguards Regulations, a great deal of scrutiny has been placed on how dealers are managing copies of driver’s licenses today inside of their dealership.”
He said the integration will support dealers in FTC rule compliance .
The new integration includes 700Credit tools such as the QuickScan mobile driver’s license authentication platform, the Red Flag identification solution and the OFAC database search.
RV, automotive, powersport and marine dealerships across the U.S. and Canada use iTapMenu. The platform provides a live video feed built directly into F&I menu software called FandEye. The tool addresses remote delivery issues and provides many direct integrations with vendors including 700Credit.
iTapMenu President Shawn McCool said the platform partnered with 700Credit to establish security.
“We made the easy decision to partner with the market leader for biometric driver’s license verification software,” McCool said. “700Credit was the obvious choice to partner with.”
The F&I menu platform has integrated 700Credit’s QuickScan. The tool is a mobile document scanner that provides dealerships with real-time customer driver’s license and identity confirmation. 700Credit said dealerships can detect and prevent fraud early on with the tool.
The captured information and images can be automatically loaded into the Digital Deal Jacket section. In addition, the QuickScan platform provides a Division of Motor Vehicles (DMV) look-up, device verification, synthetic identification document (ID) fraud detection, identity verification and selfie comparison to driver’s license image.
