Callcredit provides verification services for IOCS Ltd

IOCS Ltd is using Callcredit Information Group's CallValidate within its innovative electronic complex agreement processing service, to verify identification and bank account details of applicants.

The end-to-end service provided by IOCS Ltd transforms the processing of typically onerous paper-based agreements such as credit, leasing and insurance contracts. IOCS has initially implemented their service, the world's first cloud-based trading platform for complex agreements, into the retail sector to facilitate swift and simple Point-of-Sale credit agreements, improving customer service and tackling the high abandonment rates synonymous with the paper applications.

Callcredit's unique CallValidate product fits perfectly into the IOCS' service, delivering almost instant validation of personal and bank account details, to allow the application process to be completed confidently and rapidly. Not only can CallValidate confirm identification details and that a bank account/ payment method is live, but it also checks that the account is linked to the person making the application.

Abe Smith, CEO at IOCS Ltd said: "Our service can transform the processing of complex agreements, many of which are currently time-consuming and onerous to complete. We're delighted to be working with Callcredit, as their validation tool delivers the quick and robust identity and payment checks that we need to complete the applications quickly and is a vital part of the service we provide."

Graham Lund, Managing Director of Callcredit said: "We are a company that prides itself on the innovative and industry-leading products we offer, so are thrilled to be able to contribute to IOCS' ground-breaking service. CallValidate is a completely unique product and offers an unrivalled level of verification and we are pleased that IOCS Ltd have recognised these strengths."