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New real-time identity verification service combats dealership fraud and provides critical intelligence before vehicles are stolen
CHESAUX-SUR-LAUSANNE, Switzerland, and PHOENIX, Ariz., USA, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Kudelski IoT, a division of the Kudelski Group (SIX: KUD.S) and a pioneer in digital security and IoT solutions, today announced the launch of RecovR ID Check, an advanced identity verification solution designed to strengthen dealership defenses against identity theft and fraud in the U.S. automotive market. RecovR ID Check offers dealerships a modern, affordable solution to safeguard test drives, sales, and financing transactions.
Criminals increasingly use fake and stolen identities to take advantage of automotive dealers — driving off with vehicles during test drives or securing financing fraudulently. Identity crime enables them to disappear without a trace, leaving dealers to absorb the financial loss. And dealers often only discover the fraud after the fictitious buyer defaults on their loan payments, which can be up to 90 days after purchase.
"Identity crime is a growing threat, and staying ahead of criminals is essential for protecting our business," said Dennis Gingrich, sales and finance director at The Niello Company, a 12-rooftop dealership group in the Sacramento area. "RecovR has worked closely with our dealership teams and industry experts to create a solution that directly addresses the need for robust anti-fraud measures in automotive retail. Our goal is straightforward — every vehicle sale should include a thorough identity check, ensuring secure transactions and safeguarding our bottom line."
RecovR ID Check meets the urgent need for real-time identity verification during crucial dealership processes such as test drives and vehicle financing, whether in person or online. This solution integrates seamlessly into existing dealership workflows, helping reduce fraud and protect valuable dealership assets. Unlike competitive solutions, RecovR ID Check has no special equipment costs or monthly fees. Dealers simply purchase a prepaid package of ID checks based on their needs.
“RecovR ID Check is the latest extension of the successful RecovR product line, which has already revolutionized automotive retail with its lot management and vehicle theft recovery and key tracking solutions,” said Patrick Hauert, senior VP of asset tracking at Kudelski IoT. “Our mission is to develop technology solutions that resonate with the dynamic needs of today’s market. RecovR ID Check enhances auto dealers’ fraud prevention program with a powerful tool that helps ensure secure, trustworthy transactions and reduces loss.”