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TORONTO, Feb. 4, 2025 /CNW/ – Dealertrack Canada, the leading financing platform provider in the automotive and recreational sectors, is proud to announce a transformative collaboration with Equifax Canada and Interac Corp. (Interac). This partnership introduces an industry-leading identity verification solution, using Equifax identity orchestration services integrated with Interac® document verification service. This innovative solution is designed to help combat identity fraud in Canadian auto-lending and deliver fast and secure identity verification for lenders and dealers.
As fraud prevention remains a top priority in Canadathis partnership harnesses Dealertrack Canada, Equifax Canada, and Interac extensive reach and integrated workflow capabilities to deliver a seamless experience to Dealertrack users. Integrating cutting-edge technology, this solution aims to set a new industry standard in fraud prevention, enhance compliance, security, and efficiency, and fortify the auto-lending ecosystem.
Interac® document verification service delivers fast and accurate verification results by leveraging advanced artificial intelligence and biometric recognition technologies. It provides real-time verification to ensure that applicants are who they are presenting to be by ensuring their accepted form of government-issued identity documents (including select international passports) matches to the applicant through a liveness check. Seamless API integration makes adoption easy for lenders and dealers, with minimal disruption and maximum impact.
“Combating fraud is an ongoing focus in the lending industry, and we have been listening closely to our partners’ needs. We believe Dealertrack Canada is uniquely positioned to deliver the tools necessary to mitigate risks and improve security. With our new identity verification solution, dealers and lenders will experience quicker, more reliable fraud detection to help meet compliance requirements.” said Jill HadfieldPresident of Dealertrack Canada and CMS.
“This solution provides a powerful, practical way for lenders and dealers to strengthen fraud prevention while accelerating approvals,” Carl DaviesHead of Fraud and Identity at Equifax Canada. “By enabling quick, accurate identity verification, we’re helping our partners protect their businesses without compromising the user experience.”
“The car buying experience is an important financial decision in Canadians’ lives, and one that requires multiple touchpoints to verify their identity along the way,” said Giles SutherlandHead of Business Development at Interac. “Bringing Interac document verification service into the process with Equifax and Dealertrack creates a simple, efficient and secure solution. This collaboration is a great example of how additional verification solutions can streamline public and private sector applications.”
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