DealerTrack Adds Free ‘ID Alerts’ to Its Industry-Leading Credit Application Network
14 7월 2009 - 8:30PM
Business Wire
DealerTrack, Inc., a subsidiary of DealerTrack Holdings, Inc.
(Nasdaq: TRAK), a leading provider of on-demand software and data
solutions for the U.S. automotive retail industry, today announced
the addition of a free enhancement to its credit application
network that will help dealers strengthen their compliance programs
and reduce the risk of identity theft and fraud by flagging
abnormal patterns in credit applications at their stores. The new
�ID Alerts� complement DealerTrack�s industry-leading identity
verification solution, which has now been used more than 10 million
times by dealers, to check customers� identities, since its
introduction in 2006.
�With ID Alerts, dealers submitting credit applications on
DealerTrack will have an additional safeguard to help detect
unusual credit application behavior that could be indicative of
internal or external fraud,� said Raj Sundaram, senior vice
president, solution and services group at DealerTrack. �This new
functionality will help dealers reduce their risk of selling cars
to identity thieves, which can be extremely costly, and should play
an important role in their Red Flags identity theft prevention
programs.�
With each submission of a credit application through the
DealerTrack network, ID Alerts will automatically compare the new
data with that on all other applications submitted by the same
dealer over the prior 60 days. An ID alert may be triggered by any
of several possible anomalies in the customer�s credit application
data.
If any alerts are triggered, the dealer will have an opportunity
to identify and resolve any issues before actually submitting the
credit application to a lender. Users will be able to see which
criteria triggered the alert and which prior applications were
involved, enabling them to follow up and clear the alert. Dealers
can also receive a daily summary of ID alerts via email and
download reports of alerts from previous periods.
For dealers who subscribe to the DealerTrack Compliance
Solution, the ID Alerts functionality will be fully integrated. Any
ID alerts will be automatically attached to the deal�s electronic
deal jacket with full audit trail and documentation.
�This innovative new feature, a first in the industry, is
another illustration of DealerTrack�s commitment to providing a
complete and seamless solution that helps protect dealers and
supports their compliance with the federal and state regulations
affecting their business,� said Mr. Sundaram.
DealerTrack offers the industry�s most comprehensive suite of
compliance tools on one fully integrated and secure platform. From
credit application submission to the Red Flags identity check, menu
presentation and contract processing, DealerTrack provides the most
effective electronic solutions to protect dealers and their
customers.
DealerTrack subscription and other transaction-based products
integrate with the credit application process and provide an
end-to-end dealership technology solution. In addition to its
market-leading credit network, the on-demand DealerTrack DMS
(dealer management system) and Inventory Optimization Solution are
also category leaders.
About DealerTrack
(www.dealertrack.com)
DealerTrack�s high-value software solutions enhance efficiency
and profitability for all major segments of the automotive retail
industry, including dealers, lenders, OEMs, agents and aftermarket
providers. DealerTrack operates the industry�s largest online
credit application network, connecting approximately 19,000 dealers
with over 750 financing sources. Our solution set for dealers is
the industry�s most comprehensive. Our Dealer Management System
(DMS) enables dealers to effectively manage data and operations
from a system with an open integration interface. With DealerTrack
Inventory Optimization, dealers get better data along with the
tools to make smarter, more profitable inventory decisions. Our
Sales and F&I solution enables dealers to streamline the entire
sales process, quickly structuring all types of deals from a single
integrated platform. DealerTrack�s Compliance solution helps
dealers meet legal and regulatory requirements and protect their
hard-earned assets. DealerTrack�s family of companies also includes
data and consulting services providers, ALG (Automotive Lease
Guide) and Chrome Systems. For more information, visit
www.dealertrack.com.
Safe Harbor for
Forward-Looking and Cautionary Statements
Statements in this press release regarding the benefits of
DealerTrack�s ID Alerts, including its benefits to dealers, and all
other statements in this release other than the recitation of
historical facts are forward-looking statements (as defined in the
Private Securities Litigation Reform Act of 1995). These statements
involve a number of risks, uncertainties and other factors that
could cause actual results, performance or achievements of
DealerTrack to be materially different from any future results,
performance or achievements expressed or implied by these
forward-looking statements.
Factors that might cause such a difference include the proper
use of the product by dealers, the accuracy of the algorithms used
in the ID Alerts product, and other risks listed in our reports
filed with the Securities and Exchange Commission (SEC), including
our Annual Report on Form 10-K for the year ended December 31,
2008. These filings can be found on DealerTrack's website at
www.dealertrack.com and the SEC's website at www.sec.gov.
Forward-looking statements included herein speak only as of the
date hereof and DealerTrack disclaims any obligation to revise or
update such statements to reflect events or circumstances after the
date hereof or to reflect the occurrence of unanticipated events or
circumstances.
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