Veratad Technologies, LLC Partners with VisionMenu to Provide a Seamless Integration of Identity Verification and Red Flags Rule Compliance
VisionMenu Automates Identity Verification for Automotive and Powersports Dealers
TEANECK, NEW JERSEY March 28, 2011 – Veratad Technologies, LLC, a world class provider of Identity Verification and Compliance Solutions, announced today that Veratad’s Red Flags Rule and ID Verification solutions will be offered to all VisionMenu, Inc., dealerships nationwide.
VisionMenu, a high quality provider of software selling solutions to Automotive and Powersports dealerships, selected Veratad to provide a seamless solution that is delivered to dealers directly within the dealer’s menu services. This online solution, which makes verifying an identity a simple matter of a few clicks, is designed to protect dealerships against losses due to fines for non-compliance, as well as fraud and identity theft.
“The Red Flags Rule requires dealers to detect, prevent and mitigate identity theft. Dealers using online ID verification are taking an important step in meeting their compliance requirements and assuring the person presenting a verifying document is in fact who they say they are,” said John Ahrens, Managing Director at Veratad. “In addition to avoidance of fines for non-compliance, use of online ID verification is a way for dealers to reduce their risk of fraud and mitigate the reputational risk associated with the theft of a consumer’s identity.”
Finance professionals are in a perfect position to assist their dealerships with Red Flags Rule compliance requirements by including the identity verification with OFAC just before vehicle delivery. This approach not only protects consumers, but also protects the dealership from fraudulent transactions without interrupting the early stages of the sales cycle.
Ron Martin, CEO of Vision Menu, said “We selected Veratad because of their industry leadership and experience. We are always looking for enhancements to our solutions that will offer value to our dealership customers, and while VisionMenu is known for helping dealers sell more units, increasing F&I product sales and profitability analytics, the addition of Veratad allows us to offer our dealerships a powerful tool that protects them from fraudulent transactions and potential fines for non-compliance.”
Veratad’s Red Flags Knowledge Based Identity Verification tool is now available in VisionMenu Pro. To learn more about VisionMenu or Veratad’s Red Flags Rule special offer, contact your VisionMenu Representative or call Veratad Toll Free at 888-510-7343.
About VisionMenu, Inc. VisionMenu is a high quality provider of Software Selling Solutions to Automotive and Powersports Dealers. The VisionMenu PRO platform includes VisionMenu, VisionDesk, and VisionReport. These solutions help dealers sell more units, increase F&I product sales, and gives them the analytics they need to evaluate profitability. VisionMenu was designed by The Vision of F&I, Inc., a leading provider of Sales and F&I Training. The sales expertise of The Vision of F&I gives VisionMenu a unique user interface to make it the most effective sales tool of its kind. VisionMenu currently integrates with 25 product rating and enrollment web-services. For more information go to www.visionmenupro.com
About Veratad Technologies, LLC Veratad Technologies, LLC ( www.Veratad.com ) is a world class provider of real-time online Identity Verification and Knowledge Based Authentication Solutions designed to verify an individual’s identity and age while maintaining a high level of consumer privacy. In addition, Veratad offers a unique online Red Flag Rules Compliance tool for the creation of an ID Theft Prevention Document and Employee Training designed to meet the compliance requirements of FACTA.
For more information contact:
Senior Account Executive
Veratad Technologies, LLC
Teaneck, New Jersey
P: 201-510-6000 ext 120