TORONTO, Feb. 4, 2025 /CNW/ - Dealertrack Canada, the leading financing platform provider in the automotive and recreational sectors, is proud to announce a transformative collaboration with Equifax Canada and Interac Corp. (Interac). This partnership introduces an industry-leading identity verification solution, using Equifax identity orchestration services integrated with Interac® document verification service. This innovative solution is designed to help combat identity fraud in Canadian auto-lending and deliver fast and secure identity verification for lenders and dealers. 

As fraud prevention remains a top priority in Canada, this partnership harnesses Dealertrack Canada, Equifax Canada, and Interac extensive reach and integrated workflow capabilities to deliver a seamless experience to Dealertrack users. Integrating cutting-edge technology, this solution aims to set a new industry standard in fraud prevention, enhance compliance, security, and efficiency, and fortify the auto-lending ecosystem. 

Interac® document verification service delivers fast and accurate verification results by leveraging advanced artificial intelligence and biometric recognition technologies. It provides real-time verification to ensure that applicants are who they are presenting to be by ensuring their accepted form of government-issued identity documents (including select international passports) matches to the applicant through a liveness check. Seamless API integration makes adoption easy for lenders and dealers, with minimal disruption and maximum impact. 

"Combating fraud is an ongoing focus in the lending industry, and we have been listening closely to our partners' needs. We believe Dealertrack Canada is uniquely positioned to deliver the tools necessary to mitigate risks and improve security. With our new identity verification solution, dealers and lenders will experience quicker, more reliable fraud detection to help meet compliance requirements." said Jill Hadfield, President of Dealertrack Canada and CMS. 

"This solution provides a powerful, practical way for lenders and dealers to strengthen fraud prevention while accelerating approvals," Carl Davies, Head of Fraud and Identity at Equifax Canada. "By enabling quick, accurate identity verification, we're helping our partners protect their businesses without compromising the user experience." 

"The car buying experience is an important financial decision in Canadians' lives, and one that requires multiple touchpoints to verify their identity along the way," said Giles Sutherland, Head of Business Development at Interac. "Bringing Interac document verification service into the process with Equifax and Dealertrack creates a simple, efficient and secure solution. This collaboration is a great example of how additional verification solutions can streamline public and private sector applications."

Dealertrack Canada invites lenders and dealers to connect with their teams to learn more about this game-changing solution set to launch in March 2025. 

For details on how identification verification technology can transform fraud prevention strategy, please email us at idv@dealertrack.ca or contact your Dealertrack representative.  

About Dealertrack:  

Dealertrack Canada, a division of TRADER Corp., is the leading provider of web-based financing software solutions and services for all major segments of the automotive, recreational and marine industries. Dealertrack Canada serves dealers, lenders, OEMs, third-party retailers, agents and aftermarket providers with its comprehensive set of solutions including Sales/F&I products; market data for dealers, lenders and OEMs; and digital document services. 

Dealertrack, established in 2001, operates the largest online credit application network in North America. Dealertrack Canada is headquartered in Toronto, Ontario, Canada, and has more than 100 team members committed to delivering a uniquely Canadian service. 

About Equifax: 

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca. 

About Interac: 

Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money, data, and verification in Canada, security is the core of everything we do. Through our privacy, fraud mitigation, governance, and verification and authentication services, we help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture and corporate citizenship based on the principles of responsibility, diversity, and inclusion. We are proud to be one of Canada's leading and most trusted financial brands.  

To learn more about Interac document verification service and our suite of verification solutions, visit Interac.ca/verified 

SOURCE Dealertrack Canada

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