Tue, 07 May 2024

Starting today, TurboPass is proud to announce the nationwide launch of the TurboPass Identity Report. This new offering is now available to all dealerships, lenders, and property managers across the U.S., giving them a fast, paperless way to verify a customer’s government-issued ID with advanced fraud detection technology. This release comes in response to the rising issue of synthetic identity fraud and forged identification documents related to both the automotive and rental housing industries. According to Experian, identity fraud related in the automotive industry accounted for $619 million in losses in 2022 and 79% of car dealerships have reported having seen fake ID documents.

Since 2020, TurboPass has helped thousands of dealerships verify Proof of Income, Employment, and Residence through direct-from-source bank and payroll data. The new Identity Report adds another layer of protection to that process by validating a customer’s photo ID using AI-driven image capture and government document authentication, helping to mitigate fraud and losses at car dealerships and rental properties.

“Identity fraud has grown more sophisticated every year,” said Mike Jarman, TurboPass Co-Founder and CEO. “With our Identity Report, dealerships, lenders, and leasing agents can now have confidence that the ID they’re looking at is real—and that their customer is who they say they are.”

The process is simple. Dealers and property managers send a secure TurboPass link via text or email. The customer then takes a live photo of their government-issued ID and a live selfie. Within seconds, TurboPass’ identity verification engine checks for alterations, matches the face of the ID, and confirms the document’s authenticity. The result is a TurboPass Identity report. The report states if the document passed or failed the verification, provides the address or IP address of where the consumer completed their invitation, and if the verification failed explains the reason for the outcome.

TurboPass Corporation, headquartered in Helotes, Texas, is a financial technology software company that provides automation, SaaS, and cloud-based solutions for automotive dealerships, banks, property managers, and finance companies across North America. For more information, please visit https://www.turbopassreport.com/.