One of the benefits of the switch from owning cars to leasing them is that buyers need to go through credit checks and therefore verify their identity. This is another data stream for insurers and can often offer clues as to levels of cover, multi-vehicles in the household, or claims linked to that address for example. So this news from ID-Pal is worth checking out;
Global identity verification provider ID-Pal has announced its partnership with award-winning Bluestone Motor Finance, specialists in providing motor lending solutions to drivers across Ireland since 2014. The partnership delivers a seamless journey for customers to verify their identity in real time and enables faster financing decisions.In recent years Bluestone has broken free from the traditional onboarding model and focused on building out channels and partners that enable digital transformation for their network of over 650 dealers across Ireland and offer robust compliance to meet their Anti-Money Laundering (AML) and Know your Customer (KYC) requirements. Liz McNab, Head of Lending in Bluestone Motor Finance, comments: “We partnered with ID-Pal to offer a friction-free experience and give customers faster decisions. That experience during onboarding is key to our success and customers highlight the simplicity and speed of the identity verification process with us. This gives us a true competitive advantage and allows people to purchase even sooner.”
By using ID-Pal, dealers benefit from faster results delivered in minutes by borrowers completing the identity verification process via the ID-Pal app. This removes the need for manual processes and makes onboarding faster via their dedicated Bluelink portal.