Lake Success, N.Y.—DealerTrack Inc. has announced the launch of Out-of-Wallet, a new feature of DealerTrack’s ExactID offering that further enhances a dealer’s ability to verify a customer’s identity.

ExactID, which DealerTrack introduced in Feb. 2006, helps verify a customer’s identity by comparing his/her information against various data sources and checks a customer’s name against the watch list maintained by the Federal Office of Foreign Assets Control (OFAC). Potential OFAC matches are flagged and the dealer is provided with a simple score that indicates the likelihood of a valid identity.

Out-of-Wallet was developed to enable dealers to further verify the customer’s identity by asking several multiple choice authentication questions that anyone but the actual individual would have difficulty answering. Once the answers are submitted, the dealer is presented with the number of correct responses to allow him to make a more informed decision—either to proceed with the transaction with greater confidence or to ask the customer to provide additional documentation.

This enhancement is currently being piloted in select dealerships and is expected to be available at all DealerTrack customers at the end of November.

ExactID and the new Out-of-Wallet functionality are fully integrated with DealWatch, DealerTrack’s comprehensive compliance solution.