Bectran Launches Driver’s License Verification Solution to Help Businesses Mitigate Fraud in Real Time
Bectran has launched an identity validation solution designed to streamline the customer onboarding process with increased security.
Bectran’s all-in-one credit, collections and accounts receivable management platform can now validate driver’s license information through automation as part of the initial driver credit assessment process. client, which isolates and reduces instances of fraud when setting up a new client.
Fraud-proof credit management processes require companies to verify the identity and risk of maintaining a business relationship with a given entity. Business owners prove their authenticity by providing identification, usually a driver’s license. Currently, credit services rely on cumbersome and outdated processes to ensure that personal identification forms are valid for new customer installs. Inadequate corporate identity verification capability can put businesses at risk of financial loss and significantly extend credit processing time.
Bectran’s Automated Driver’s License Verification solution was developed to further strengthen Bectran’s suite of enterprise identity management solutions and to reduce the time required to validate driver’s licenses compared to the office of the respective state. This solution securely captures, stores and validates driver’s license information, relying solely on automation with no manual intervention. Additionally, driver’s license verification results can be used as part of the auto-approval model to instantly extend business credit.
“With our enhanced identity verification solution, we sought to design a solution that provides instant results through automation, eliminating the current costs associated with manual driver’s license verification, especially in an environment of high-volume transaction processing Integration of the automated driver’s license verification solution into Bectran’s credit management system has enabled our customers to eliminate the manual tasks associated with the traditional identity verification process of the business, ultimately delivering a faster credit turnaround time,” said Louis Ifeguni, CEO of Bectran.
The Bectran driver’s license verification solution is now available for our customers.