The Challenge For
Motor vehicle dealers are exposed to the risk of identity fraud and possible loss, where the identities of vehicle buyers are not properly verified before vehicles are test driven.
Since motor vehicle dealers work closely with the banks to help consumers obtain vehicle finance, Comcorp is ideally positioned to help vehicle dealers with digital identification and onboarding requirements.
As compliance is an integral part of our solutions set, we assist clients with automating consumer due diligence PEP and sanctions list screenings for Anti-Money Laundering (AML), KYC and other regulations.
Access to Bank Statements
By accessing bank statements in data format directly from the bank in real time, IDX enables straight through processing and provides assurance that the data can be trusted. IDX also provides convenience to loan applicants and enables lenders to close deals faster.
Access to Payslips
By accessing payslips in data format directly from the employer in real time, SPX enables straight through processing and provides assurance that the data can be trusted. SPX also provides convenience to loan applicants and enables lenders to close deals faster.
By using our tools to verify identity biometrically, our customers can go on to perform KYC, collect POPI compliant consent and prevent ID impersonation fraud.