DealerShop, Inc. Partners with Intellicheck to Offer Advanced Fraud Protection to Auto Dealers and Collision Centers

Rhea-AI Summary

Intellicheck (Nasdaq: IDN) has partnered with DealerShop, allowing auto dealers and collision centers to utilize advanced identity verification solutions to combat fraud. This collaboration addresses rising fraud-related losses in the industry. DealerShop, North America's largest distributor for auto dealers, serves over 2,010 dealerships and 300 collision centers. Intellicheck's technology has reportedly saved clients approximately $65 million in just two months of 2023 by preventing fraudulent activities. This partnership aims to enhance protective measures while promoting community safety.

Positive

• Partnership with DealerShop enhances market reach and credibility.
• Reported savings of $65 million for auto dealer clients indicate effective fraud prevention.

Negative

• None.

MELVILLE, N.Y.--(BUSINESS WIRE)-- Intellicheck, Inc. (Nasdaq: IDN), an industry-leading identity company delivering on-demand digital and physical identity validation, today announced a partnership with DealerShop, Inc. to offer their nationwide auto dealer and collision center members access to state-of-the-art fraud protection.

The partnership gives DealerShop members the opportunity to take advantage of cutting-edge digital and physical identity verification solutions through Intellicheck’s web-based Portal+ solutions and Intellicheck mobile assuring unsurpassed protection against identity fraud.

DealerShop, Inc. CEO and President Bill Gryzenia said the partnership addresses a serious problem as the industry faces a significant increase in fraud-related losses due to illegally obtained personal identification information that is being used to gain financing approval for automobile purchase and service financing requests. “At DealerShop, it has always been our top priority to provide comprehensive, cost-effective products and services that respond to the needs of our member auto dealers and collision centers nationwide. By partnering with Intellicheck, we can enable our members to take advantage of their superior technology that limits fraud quickly, easily, and effectively. At the same time, it allows our members to build on their commitment to the safety of the communities they call home. Preventing fraudsters from victimizing friends and neighbors underscores that commitment.”

DealerShop, Inc. is North America's largest warehouse distributor of products and services for car dealers and collision centers with over 2,010 dealership and 300 collision center members. DealerShop’s comprehensive slate of offerings range from administrative supplies and services to warehouse and direct-purchase products, to capital equipment.

Intellicheck CEO Bryan Lewis said DealerShop understands the importance of providing members with the access to valuable bottom line protection that shields members and fraudsters’ victims from the devastating and costly impact of identity fraud. “We are excited to partner with DealerShop, Inc. to offer its members the benefits of identity fraud prevention that are currently being realized by the auto dealers we are working with across the country. Auto dealers and collision centers that use our innovative technology solutions provide customers with an advanced customer onboarding process that features a rapid, frictionless customer identity experience while making certain that fraudsters will not be successful. In fact, we believe in the first two months of 2023, Intellicheck has saved its automobile dealer clients some $65,000,000 by stopping bad actors from using fake IDs to secure financing.”

Intellicheck delivers both digital and physical identity verification solutions for fintechs and financial services companies including five of the top 12 banks and credit card issuers and BNPL providers using Intellicheck’s flexible technology online through a browser or mobile devices as well as through point-of-sale scanners at brick-and-mortar locations. The company’s frictionless solutions are also in use at more than 30,000 retail locations including automobile dealerships and at multiple law enforcement and state agencies. For more information on Intellicheck, visit us on the web.

About Intellicheck

Intellicheck (Nasdaq: IDN) is an identity company that delivers on-demand digital identity validation solutions for KYC, fraud, and age verification needs. Intellicheck validates both digital and physical identities for financial services, fintech companies, BNPL providers, e-commerce, and brick-and-mortar business locations, law enforcement and government agencies across North America. Intellicheck can be used through a mobile device, a browser, or a retail point-of-sale scanner. For more information on Intellicheck, visit us on the web and follow us on LinkedIn, Twitter, Facebook, and YouTube.

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Media and Public Relations: Sharon Schultz (302) 539-3747

Investor Relations: Gar Jackson (949) 873-2789

Source: Intellicheck, Inc.