eLEND Solutions’ new platform is designed to accelerate transactions, remove online-to-in-store information disconnects and enable customers to do more remotely.

Las Vegas, Nevada– March 10, 2022 – eLEND Solutions, an automotive FinTech company focused on accelerating ‘transactional’ digital buying experiences, today announced at The NADA Show 2022, the launch of Customer Gateway, a certified, secure platform that enables car buyers/shoppers to complete more buying steps remotely (away from the dealership). By simplifying the purchasing process, and eliminating online to in-store experience gaps, Customer Gateway can reduce in-store transaction times – a key pain point for both car buyers and auto dealers.

“Digital retailing does not mean that the traditional sales process goes away. Buyers are always going to prefer to shop and transact on their own terms, so sales processes must be flexible enough to meet the needs of all buying scenarios – online only, in-store only, and hybrid. This is why we developed Customer Gateway – to help unify the buying experiences and enable frictionless online to in-store transitions by connecting workflows,” said Pete MacInnis, CEO and Founder of eLEND Solutions. 

Customer Gateway allows car shoppers/buyers, prior to a dealership visit, to re-access and update previously submitted information and upload any required documentation (i.e. Driver License, Proof of Insurance, Income, etc.), while also tying their vehicle of interest, trade, cash down and desired payment terms to the actual credit application process. It streamlines the experience and enhances continuity by integrating with platforms involved in the sales and finance deal flow, including DealerTrack & RouteOne, securely moving critical information between the dealership’s CRM, Inventory and F&I platforms.

“Missing or problematic integrations create information disconnects and inefficiencies, which is directly related to consumers’ #1 car buying complaint: it takes too long to purchase a vehicle. Customer Gateway makes the entire buying experience easier and more efficient for buyers and sellers. It is focused on facilitating consumers’ and auto dealers’ common goal: Sell the car as efficiently and transparently as possible,” continued MacInnis.    

In the first month of Customer Gateway’s soft­ launch, 99% of the nearly 5,300 customer documents uploads were customer-initiated, unsolicited by the dealer – offering compelling evidence that consumers crave opportunities to do more of the sales process remotely.

Customer Gateway is a plus for dealers because it makes more information about the customer’s buying power transparent, earlier in the engagement - enabling the dealer to work closely with their potential buyers right from the start, quote realistic payment terms, structure more profitable deals faster and improve closing ratios.

Dealerships who have piloted Gateway confirm its benefits: Said Rob Gonzalez of Rush Chevrolet Texas: “eLEND Solutions is a core component of our Digital Retail strategy, with almost 500 customers monthly getting pre-qualified upfront in the sales process with their online tool. The Customer Gateway feature takes it to the next level with a good percentage of those customers updating their information and uploading documents to speed up the process.

Tony Klarakis of Dan Cummins Chevrolet Buick – KY- agrees: “eLEND Solutions generates almost 800 online credit apps per month for us. When they turned on the Customer Gateway, our customers started uploading documents on their own, helping us get deals done much faster and more efficiently. This is Real Digital Retailing for Dealers!”

How Customer Gateway works:

• Once a customer has raised their digital hand with intent to buy through one of eLEND’s Credit or Identification solutions, or through API’s from other digital retailing sources, the Customer Gateway reaches out to the customer via text or email to begin the process.
• Upon secure login, the customer can upload as well as re-access and update, information and documentation. This, in turn, ties their vehicle of interest, vehicle trade-in, cash down and desired monthly payment to the actual credit application process.
• The customer can choose to pre-qualify online or to digitally update their current credit app with co-signers, co-buyers and references, along with additional digital consent/signatures, to send application to lenders.
• Documentation that the customer can securely upload includes driver license, auto insurance card, recent paystubs, utility bills and any other documents requested by the dealer in the negotiation process.
• The platform preserves a consistent, certified and secure flow of the consumer’s information across the entire transaction, from online to instore with a progress bar showing the customer how much of the sales process information has been completed. The dealership can configure any information that needs to be completed remotely by the customer. This information progress bar is also displayed on the dealership dashboard.

Customer Gateway enters the market as auto dealerships continue to struggle with shortening transaction times: the time spent in dealerships by consumers has decreased by only five minutes in the past five years, Cox Automotive[1] reports, in spite of the pandemic and accelerated digital retailing adoption. Dealers, meanwhile, overwhelmingly agree that there is disconnect between online shopping and instore buying and that it must be solved to shorten transaction times and improve customer experience[2].

“The biggest barriers to digital retailing’s ability to improve transaction times, PVR and customer satisfaction, are the chronic information and process disconnect from the online to instore process. Customer Gateway can solve this, shifting the information pendulum back towards the auto dealer and helping to transition Digital Retailing from a Lead Generation model to a Deal Generation model – and that is a game-changer,” concluded MacInnis.

The company will be demonstrating Customer Gateway at the 2022 NADA Show at booth 4307W.

About eLEND Solutions:

DealerCentric Solutions® Inc. (dba eLEND SolutionsTM) is a privately-held automotive FinTech company focused on deal generation solutions – that power transactional digital buying experiences for the retail automotive industry. The platform specializes in digital credit, identity, and finance solutions for remote and in-store shoppers, designed to accelerate conversions of digital end-to-end purchase experiences concluding with fundable, transactable deal structures.

For more information, please visit www.elendsolutions.com. 

Contact Media Relations:

Melanie Webber, mWEBB Communications, (424) 603-4340, melanie(at)mwebbcom(dot)com

Crystal Hartwell, mWEBB Communications, (714) 987-1016, crystal(at)mwebbcom(dot)com

[1] Cox Automotive 2022 Car Buyer Journey study - the time consumers spent with the auto dealership dropped only five minutes in five years: from 2:42 minutes in 2017 to 2:37 minutes in 2021 https://www.coxautoinc.com/news/2021-car-buyer-journey-study/

[2] https://www.elendsolutions.com/press_release/survey-auto-dealers-disconnected-about-solving-digital-retailing-disconnects/

The old photocopying, barcode-scanning and verification calling is powerless against the fake ID epidemic

ID theft is a raging American epidemic: According to the FBI, it has overtaken the drug trade as the most costly U.S. crime. Just consider: more than 267 million consumer records were exposed - and a record 60 million pieces of personal ID - wound up in the hands of identity thieves[1] last year.

And every week, it seems, I hear or read about another case of identity theft or fraud at dealerships. More dealers than ever are reporting that more impeccable-looking criminals are presenting impeccable-looking (fake) IDs for test-drives, and then driving off…or even successfully purchasing vehicles with them (with their associated, impeccable-looking fake checks, credit apps, insurance cards, etc.)

The huge problem is that today’s ID thieves and fake-ID-producers use cutting-edge technology, while the average dealer’s standard verification processes remain in the Dark Ages. So dealers are increasingly powerless against this fast-growing, very costly problem.

The government, of course, mandates that dealerships put in place processes that can help flag identity fraud. About a dozen years ago the FTC launched the Safeguard Rule, and then in 2011 they followed up with the Red Flags Rule. The latter requires that financial institutions and businesses that function as “creditors,” i.e. those that “regularly grant loans, arrange for loans or make credit decisions” – including car dealerships – must implement a written Identity Theft Prevention Program to detect the warning signs of identity theft in their day-to-day operations.

While the FTC doesn’t spell out specific required procedures, they can seek both “monetary civil penalties and injunctive relief for violations” – with the former running to $3,500 per violation.

So, many dealers, with their eye mainly on compliance, set up a Red Flags Program that creates a “look, I tried” paper trail. But the real cost when someone drives away with a vehicle is to the dealer. And what might possibly prove adequate processes to the FTC, isn’t adequate to actually protect against today’s ID scammers at dealerships.

And the cost to dealers is becoming an increasingly expensive, scary problem. More lenders are now requiring dealers to buy back ID-theft-related deals. (More lender contracts include verbiage stating the dealer is responsible for establishing the identity of the buyer, and that they’re responsible for the damages when a car is stolen or bought fraudulently.) So, think about the real cost of just one car obtained with false IDs/documents: with the cost of the vehicle, re-buying the contract and the lawyers fees, it can easily go north of $100,000.

Eyeballing & Endless Calls Don’t Cut It Anymore:

Most dealers’ processes are, as I’ve said, powerless against sophisticated ID-fakers. Every dealer knows the drill: all that cumbersome scrutinizing and photocopying of IDs – all those endless verification calls. Dealers still use barcode scanners, but they can only verify that data is present on a card, not that it’s valid.

Yes, there is a ton of good advice out there from the FTC and in the dealer trades. Dealers are told to do everything from requiring only US IDs – to verifying every license with the DMV, and credit report with the reporting services, and insurance card with the insurance company – to comparing licenses from people out of state with the examples in NADA’s titling guidebook – to taking thumbprints of all customers not personally known – and using identity verification services to spot red flags and to obtain “out of wallet” questions to trip people up.

An article on flagging ID fraud will be called, “30 Things To Do to Spot Identity Fraud.” It’s insanely complex and time-consuming. And with most cars sold on weekends, many of these steps (like calling the DMV and other verifying organizations) happen when those organizations are closed.

And if many of these cumbersome processes may successfully raise flags in an F& I department – what about at the point of test-drive? How many dealerships have I been in on a busy weekend, where there are 100 cars out and photocopied IDs are flung about the dealership…and the whole situation is chaos?

Fight the Criminals’ Technology – With Technology:

Of all the advice I have seen given to dealers, the best is from the FTC, who states: “Businesses with a high risk for identity theft need more robust procedures…like incorporating fraud detection software.”

The technology is here. For instance, a company like AssureTec Technologies, which is the ID scanner technology that’s chosen by hardcore organizations like the Department of Homeland Security, the Department of State, the NYPD and DMVs nationwide, can do things that no dealer eyeballs and due diligence staff ever could:

With a swipe of a license, this technology can:

• Perform 50 complex forensic tests for 2,500+ global ID types…in less than six seconds.
• Extract all biometric and alphanumeric data in the document, and then authenticate it using a document forensics library and detection algorithms.
• Relentlessly examine not only visible ID properties, but also those undetectable to the eye, like: ultraviolet (UV) and near-infrared (NIR) properties, guilloche, optically variable device (OVD) presence, embossing, perforation, retro-reflective laminate background patterns and overlay patterns.

This is the type of potent ID authentication technology that dealers desperately need. And it’s why we recently partnered with AssureTec to create an ID scanner product that powerful for auto dealers – it’s called ID Drive.

But whatever hardware/software solution a dealer uses, the fact is they need to adopt technology – and extreme technology - to fight the fake ID wave. If dealerships made every test-driver – and every person that walks into their store – simply swipe their license/ID at such a state-of-the-art scanner, ID fraud would be radically reduced.

[1] Open Security Foundation data, 2013

The old photocopying, barcode-scanning and verification calling is powerless against the fake ID epidemic

ID theft is a raging American epidemic: According to the FBI, it has overtaken the drug trade as the most costly U.S. crime. Just consider: more than 267 million consumer records were exposed - and a record 60 million pieces of personal ID - wound up in the hands of identity thieves[1] last year.

And every week, it seems, I hear or read about another case of identity theft or fraud at dealerships. More dealers than ever are reporting that more impeccable-looking criminals are presenting impeccable-looking (fake) IDs for test-drives, and then driving off…or even successfully purchasing vehicles with them (with their associated, impeccable-looking fake checks, credit apps, insurance cards, etc.)

The huge problem is that today’s ID thieves and fake-ID-producers use cutting-edge technology, while the average dealer’s standard verification processes remain in the Dark Ages. So dealers are increasingly powerless against this fast-growing, very costly problem.

The government, of course, mandates that dealerships put in place processes that can help flag identity fraud. About a dozen years ago the FTC launched the Safeguard Rule, and then in 2011 they followed up with the Red Flags Rule. The latter requires that financial institutions and businesses that function as “creditors,” i.e. those that “regularly grant loans, arrange for loans or make credit decisions” – including car dealerships – must implement a written Identity Theft Prevention Program to detect the warning signs of identity theft in their day-to-day operations.

While the FTC doesn’t spell out specific required procedures, they can seek both “monetary civil penalties and injunctive relief for violations” – with the former running to $3,500 per violation.

So, many dealers, with their eye mainly on compliance, set up a Red Flags Program that creates a “look, I tried” paper trail. But the real cost when someone drives away with a vehicle is to the dealer. And what might possibly prove adequate processes to the FTC, isn’t adequate to actually protect against today’s ID scammers at dealerships.

And the cost to dealers is becoming an increasingly expensive, scary problem. More lenders are now requiring dealers to buy back ID-theft-related deals. (More lender contracts include verbiage stating the dealer is responsible for establishing the identity of the buyer, and that they’re responsible for the damages when a car is stolen or bought fraudulently.) So, think about the real cost of just one car obtained with false IDs/documents: with the cost of the vehicle, re-buying the contract and the lawyers fees, it can easily go north of $100,000.

Eyeballing & Endless Calls Don’t Cut It Anymore:

Most dealers’ processes are, as I’ve said, powerless against sophisticated ID-fakers. Every dealer knows the drill: all that cumbersome scrutinizing and photocopying of IDs – all those endless verification calls. Dealers still use barcode scanners, but they can only verify that data is present on a card, not that it’s valid.

Yes, there is a ton of good advice out there from the FTC and in the dealer trades. Dealers are told to do everything from requiring only US IDs – to verifying every license with the DMV, and credit report with the reporting services, and insurance card with the insurance company – to comparing licenses from people out of state with the examples in NADA’s titling guidebook – to taking thumbprints of all customers not personally known – and using identity verification services to spot red flags and to obtain “out of wallet” questions to trip people up.

An article on flagging ID fraud will be called, “30 Things To Do to Spot Identity Fraud.” It’s insanely complex and time-consuming. And with most cars sold on weekends, many of these steps (like calling the DMV and other verifying organizations) happen when those organizations are closed.

And if many of these cumbersome processes may successfully raise flags in an F& I department – what about at the point of test-drive? How many dealerships have I been in on a busy weekend, where there are 100 cars out and photocopied IDs are flung about the dealership…and the whole situation is chaos?

Fight the Criminals’ Technology – With Technology:

Of all the advice I have seen given to dealers, the best is from the FTC, who states: “Businesses with a high risk for identity theft need more robust procedures…like incorporating fraud detection software.”

The technology is here. For instance, a company like AssureTec Technologies, which is the ID scanner technology that’s chosen by hardcore organizations like the Department of Homeland Security, the Department of State, the NYPD and DMVs nationwide, can do things that no dealer eyeballs and due diligence staff ever could:

With a swipe of a license, this technology can:

• Perform 50 complex forensic tests for 2,500+ global ID types…in less than six seconds.
• Extract all biometric and alphanumeric data in the document, and then authenticate it using a document forensics library and detection algorithms.
• Relentlessly examine not only visible ID properties, but also those undetectable to the eye, like: ultraviolet (UV) and near-infrared (NIR) properties, guilloche, optically variable device (OVD) presence, embossing, perforation, retro-reflective laminate background patterns and overlay patterns.

This is the type of potent ID authentication technology that dealers desperately need. And it’s why we recently partnered with AssureTec to create an ID scanner product that powerful for auto dealers – it’s called ID Drive.

But whatever hardware/software solution a dealer uses, the fact is they need to adopt technology – and extreme technology - to fight the fake ID wave. If dealerships made every test-driver – and every person that walks into their store – simply swipe their license/ID at such a state-of-the-art scanner, ID fraud would be radically reduced.

[1] Open Security Foundation data, 2013