Mission Viejo, CA (PRWEB) April 28, 2014
ID fraud is a massive national problem – and a growing dealership issue. The Benny Boyd Auto Group, with nine stores in Texas, lost four vehicles to fake ID scams, so they embraced a new ID scanner that utilizes the same technology that’s used by Homeland Security. A just released case study from eLEND Solutions™ charts how the dealership group not only eliminated ID fraud, but also realized some unexpected benefits. Among them:
In addition, the case study reports on how the scanner helped on multiple other fronts, from federal compliance laws mandating protection against employee identity theft to greater salesperson accountability, to protecting the team from criminals using fake IDs to take test-drives, and then pulling guns on salespeople.
In 2013, nearly one billion identities were breached (the Heartbleed bug being just the latest), putting birth dates, addresses, and other personal info into the hands of criminals, who use super-sophisticated technology to make impeccable-looking fake IDs. More thieves are now using fake IDs to test-drive and steal – or even purchase – cars, but dealerships use barcode scanners that can only verify that data is present on a card, not that it’s valid, leaving them vulnerable.
The ID scanner Benny Boyd utilizes is eLEND Solutions' patent-pending ID Drive, which performs dozens of complex forensic tests on IDs in seconds, and scrutinizes not only visible ID properties, but also those undetectable to the eye.
Read the full case study here: http://www.elendsolutions.com/case-study/case-study-2/.
Case Study Highlights
1) Burned by ID Fraud, But Not After ID Drive: Three months before adopting ID Drive, Benny Boyd Auto Group was hit with several sophisticated scams: four vehicles were sold to buyers with fake IDs/credit info that had “checked out perfectly.” The vehicles were shipped to the “buyers’” address, where the thieves signed for delivery and promptly drove off. Since installing ID Drive in their nine stores, no vehicles have been bought or stolen with fake IDs. Mark Gibson, E-Commerce & Internet Director, Compliance Officer, Benny Boyd Group, notes ID Drive has also helped by flagging expired licenses or ones with altered dates of birth, crucial, because if a test-driver with an invalid license has an accident, the dealership’s insurance premiums go up.
2) Rigorous “Scan It” Process = More Leads Captured; Sales Grow 10%: Gibson reports that ID Drive enabled him to put in place a strict new process: no salesperson can take cars out or work deals unless the customer’s ID gets scanned. And with every ID Drive scan, that customer’s info is put into motion: pushed into the CRM system, with the customer, the vehicle and any pre-existing lead or credit app data made transparent to sales and F& I. Dealerships may focus intensely on Internet leads, but Benny Boyd Group notes that ID Drive ensures they capture and work so many more, too-overlooked in-store leads.
The result of capturing so many more in-store leads for follow-up: Benny Boyd Group has seen a 10% increase in sales since installing the ID Drive technology/process a year ago - or about 50 incremental cars sold each month.
3) Shorter Sales & Financing Process: Because ID Drive connects the customer info and vehicle stock number (digitally via the CRM system) to the sales department pre-test-drive, Benny Boyd Group reports they now have the foursquare invoice/paperwork ready when that test-driver pulls in…trimming their average transaction time by 30 minutes.
Ironclad protection against fake IDs, significantly increased sales, and a shorter transaction process have been the “Big Three” ID Drive results for Benny Boyd Auto Group, but the dealership also reports numerous other eye-opening benefits. To read more, click here.
“Our dealerships experienced the nightmare of ID fraud first-hand, and we had 30 broken ID scanners sitting in a closet. But ID Drive has worked flawlessly: it’s sweet, slick technology, and in 5 seconds you know if there are ANY problems with any ID,” said Gibson. “But what’s amazed me is that, because it captures so many more test-drive leads into our CRM, we’ve seen a 10% increase in sales across the board. This one small scanner has delivered so many benefits to our dealerships.”
About ID Drive: ID Drive was developed with AssureTec Technologies, the ID authentication solution used by Department of Homeland Security (DHS), Department of State and border patrols all over the world. A far cry from the low-tech barcode scanners most dealers use.
With one scan, ID Drive performs dozens of complex forensic tests on IDs in seconds. It extracts all biometric and alphanumeric data in the document, and authenticates it using its forensics library and detection algorithms, scrutinizing not only visible ID properties, but also those undetectable to the eye. The result: instant validation or red flags. And unlike any other dealership ID scanner, ID Drive extracts, purifies and enhances the personal info on the ID, and seamlessly exports it into a dealership’s CRM/finance systems.
About eLEND Solutions:
eLEND Solutions was founded in 2003 as DealerCentric, whose “Get Pre-Approved in Seconds” solution represents the auto industry’s leading online credit application product. The company has since expanded its mission by developing a comprehensive, next-generation consumer finance management system that will benefit dealers, lenders and consumers. E-LEND Solutions technology platform will bring financing to the front of the sales process, and put the customer in the right vehicle and loan, at the point of sale, reducing the dealership financing process from hours to minutes. E-LEND Solutions is headed by Pete MacInnis, who leads a management team with over 250 years of automotive, finance and technology experience.
Media Relations Contact: mWEBB Communications
Melanie Webber, (949) 307-1723 / melanie(at)mwebbcom(dot)com