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Compliance

Veratad Technologies Partners With VisionMenu on Compliance Solutions

April 05, 2011

TEANECK, N.J. — Veratad Technologies LLC, a provider of identity verification and compliance solutions, announced that its Red Flags Rule and ID verification solutions will be offered to all VisionMenu Inc. dealerships nationwide.

VisionMenu, a provider of software selling solutions to automotive and powersports dealerships, selected Veratad to provide a seamless solution delivered directly to a dealer’s menu services. This online solution, which makes verifying an identity a simple matter of a few clicks, is designed to protect dealerships against losses due to fines for non-compliance, as well as fraud and identity theft.

“The Red Flags Rule requires dealers to detect, prevent and mitigate identity theft. Dealers using online ID verification are taking an important step in meeting their compliance requirements and assuring the person presenting a verifying document is in fact who they say they are,” said John Ahrens, managing director at Veratad. “In addition to avoidance of fines for non-compliance, use of online ID verification is a way for dealers to reduce their risk of fraud and mitigate the reputational risk associated with the theft of a consumer’s identity.”

Ron Martin, CEO of Vision Menu, said “We selected Veratad because of their industry leadership and experience. We are always looking for enhancements to our solutions that will offer value to our dealership customers, and while VisionMenu is known for helping dealers sell more units, increasing F&I product sales and profitability analytics, the addition of Veratad allows us to offer our dealerships a powerful tool that protects them from fraudulent transactions and potential fines for non-compliance.”

Veratad’s Red Flags Knowledge Based Identity Verification tool is now available in VisionMenu Pro. To learn more about VisionMenu or Veratad’s Red Flags Rule special offer, contact your VisionMenu Representative or call Veratad toll free at (888) 510-7343.

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