Bectran Launches Automated Driver’s License Verification Solution to Help Businesses Mitigate Fraud in Real-Time and Achieve Faster Credit Decisioning
Credit, Collections & Accounts Receivable Software leader
Bectran, Inc. has released an identity validation solution designed
to streamline the customer onboarding process with increased
security. The Bectran All-in-One Credit, Collections & Accounts
Receivable Management Platform can now validate driver’s license
information through automation as part of the initial customer
credit worthiness evaluation process, which isolates and reduces
instances of fraud in new customer set up.
Fraud-proof credit management processes require that businesses
verify the identity and risks involved in maintaining a business
relationship with any given entity. Business owners prove their
authenticity by providing a form of identification, usually a
driver’s license. Currently, credit departments rely on laborious
and antiquated processes to ensure that personal identification
forms are valid for new customer set up. Inadequate business
identity verification capability can put businesses at risk of
financial loss and significantly extend the credit processing
Bectran’s automated driver’s license verification solution was
developed to further strengthen the suite of Bectran business
identity management solutions, and to reduce the time needed to
validate driver’s licenses against the respective state’s bureau.
This solution securely captures, stores, and validates driver’s
license information, relying solely on automation without manual
intervention. Furthermore, the driver’s license verification
results can be used as part of the auto approval model to instantly
grant credit to businesses.
“With our enhanced identity verification solution, we sought to
design a solution that delivers instantaneous results through
automation thereby eliminating the current costs associated with
manual driver’s license verification, especially in a high
transactions volume processing environment. Integrating the
automated driver’s license verification solution into the Bectran
credit management system has enabled our customers to eliminate
manual tasks associated with the traditional business identity
verification process, ultimately delivering faster credit
processing turnaround time,” said Louis Ifeguni, CEO of
Additional Resources and Availability
The Bectran Driver’s License Verification solution is now
available to our customers.
About Bectran, Inc.
Bectran, the industry leading SaaS platform, has grown rapidly
over the years to become the companion toolkit for the Credit
Department just as CRM is for the Sales Department. From simple to
complex organizations and SMEs to Fortune 500 companies, Bectran
has helped companies cut down the time to process and approve
credit by over 90% while significantly lowering the risk of credit
defaults and the cost of collections.
A growing number of companies are depending on Bectran to manage
their Accounts Receivable and Collections. With significant process
and task automation, companies are able to cut down the cost of
collections by as much as 60-90% while accelerating the cash
receipts cycle with complete and accurate cash applications.
Bectran’s clients enjoy the ease, speed, and cost-effectiveness
of adopting the Bectran platform. New clients are onboarded in a
matter of days or weeks. Credit professionals in various industries
have described the Bectran platform as the future of the Credit
Department. To learn more, visit www.bectran.com
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Bectran, Inc. Angelina Rose 703-596-8089 PR@bectran.com