Callcredit awarded contract to supply robust fraud and verification solution to Carfinance247

Carfinance247Callcredit is pleased to announce that it has signed a new contract with online car finance broker, Carfinance247, which provides a variety of affordable car finance options to UK consumers nationally.

The contract will see the car finance provider enhancing its current fraud and verification systems with Callcredit’s flagship product CallValidate.  When implemented, CallValidate will deliver significant service improvements and cost savings to Carfinance247.

CallValidate is a highly flexible, online fraud and verification solution that enables users to capture and validate customers' names, addresses and date of birth, whilst conducting a real-time check against bank and credit card providers' records. Carfinance247 was founded by brothers Reg and Louis Rix in 2006, and is a privately owned business based in central Manchester, offering a wide range of car finance products.

Louis Rix, Director, Carfinance247 said: “We required a much more agile solution to our existing fraud and verification requirements and this is why we decided to move over from our historic, less flexible, service to Callcredit.  Callcredit’s CallValidate solution stood out for its ease of system integration and the detailed data intelligence it provides.

“We now have more robust challenge and response questions and are confident in our ability to highlight fraud earlier in the process with the additional enhancements we have access to.

“We will now be able to use CallValidate to link bank account details to the name and address provided, make sure that the card details provided by a customer are valid, and perform additional validation checks on a card against the live payment network - to verify the details and also that the card is active.  The facilities provide us with the in-depth and innovative fraud and verification solution we were looking for.”

Martin Leonard, Head of Sales - Lending, Callcredit Information Group said: “It is important for companies offering consumers financial products to ensure they are taking customer due diligence seriously whilst offering a seamless customer journey.  We are looking forward to working with Carfinance247 and helping them to treat each customer fairly and comply with the latest regulation through better informed decision making.”