Intellicheck chosen for easier customer onboarding by retail financing platform

Fintech Versatile Credit has selected Intellicheck’s fraud prevention and digital identity validation software to improve its customer onboarding.

Versatile Credit provides retailers with a platform to connect to lenders so they can offer purchase financing. It bills itself as the top credit aggregator and customer acquisition tool for merchants and lenders. The company enables businesses in the jewelry, furniture, automotive and other sectors a self-service financing application for online and in-store shoppers.

Intellicheck’s solution provides a frictionless experience for legitimate customers, and validates customer identity documents accurately in under a second, according to the announcement. The software also pre-fills the customer’s application for a more streamlined process and a better customer experience.

The accuracy of Intellicheck’s technology could reduce the number of false negative risk signals by 20 to 40 percent, the companies say, improving Versatile Credit’s conversion rate.

Versatile Credit President and COO Vicki Turjan says the Intellicheck integration gives its merchant customers “a new level of security and personalization,” and helps them reduce fraud while improving their application experience.

“Versatile Credit’s merchants can build their customer base with confidence while providing an unsurpassed customer experience featuring ease of use and a speedy response to credit requests,” says Intellicheck CEO Bryan Lewis. “Giving merchants a rapid and easy-to-use tool to onboard new clients while virtually eliminating fraud has a direct impact on bottom line results.”

Intellicheck’s physical and digital identity verification services are used by seven of the top 12 banks and credit card issuers in America, more than 30,000 retail locations, and more than half of state-level law enforcement agencies.

The company also unveiled its second contract win with a major U.S. social media platform in October.

Article Topics

biometrics  |  document verification  |  fraud prevention  |  identity verification  |  Intellicheck  |  onboarding