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Integration Overview
Verimatch has integrated the following 700Credit products into their platform:
- Soft Pull/Prequalification (QuickQualify Integration)
- Hard Credit Pulls
- Driver’s License Authentication
Credit and Compliance Solutions
700Credit is the largest provider of credit, compliance, and soft-pull solutions to automotive, RV, Powersports, and Marine dealers across the country and the leading authorized reseller of credit reports from Equifax, Experian, and TransUnion.
700Credit is seamlessly integrated with Verimatch so dealers can pull credit reports and receive the following information with every report pulled:
- All 700Credit clients receive their choice of credit report format and score.
- Identity Verification/Red Flag platform which provides a vital service by flagging application information that on the surface may seem true, but in reality, is questionable. These warning messages focus on high-risk applicants, social security numbers, and addresses.
- Tabs for each credit report pulled, and Risk Based Pricing and Adverse Action notices (if applicable)
- Link to the Compliance Dashboard which enables dealers to stay on top of and manage credit reporting and compliance from one single view.
Introduction to Driver’s License Authentication (QuickScan)
QuickScan from 700Credit is a powerful mobile document authentication platform that provides dealerships real-time confirmation of the legitimacy of a customer’s driver’s license and identity. Although it can be used in-store, it is particularly helpful when used to verify the identities of online car buyers and leads to stop fraud at the top of the sales funnel.
Features Include:
- Driver’s License/Document Verification
- Selfie Verification/Liveliness Detection
- Front/Back Driver’s License Validation
- Device Verification
- Synthetic ID Fraud Detection
- Identity Verification Check, Red Flags OFAC
Introduction to Prequalification
The 700Credit prequalification platform does not require a consumer’s SSN or DOB and has no effect on their credit score. Presented with a simple lead form, consumers can quickly get prequalified for a vehicle and receive an accurate payment quote.
Dealers receive a FICO score and full credit file making it easy to estimate payments and understand what the consumer is qualified for before the first phone call. Our QuickMobile app makes it easy and convenient for dealers to receive and respond to customers who have run through the prequalification process.
Lead data provided includes:
- FICO Score
- Available Revolving Credit
- Auto Inquiries last 30 days
- Summary of Auto Trade Lines including:
- Current Monthly Payments
- Current Auto Loan Interest Rates
- Remaining Balance/Payoff Payment History
- Months Remaining on Auto Loans
Why partner with 700Credit?
Easiest, most automated credit and compliance workflow in the industry
Access to all three bureaus
One-stop to monitor and manage your compliance obligations
24/7/365 Support Desk