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FOR IMMEDIATE RELEASE
Veratad Technologies,
LLC Partners with VisionMenu to
Provide a Seamless Integration of
Identity Verification and Red Flags
Rule Compliance
VisionMenu Automates
Identity Verification for Automotive
and Powersports Dealers
TEANECK, NEW
JERSEY March 31, 2011
– Veratad Technologies, LLC, a world
class provider of Identity
Verification and Compliance
Solutions, announced today that
Veratad’s Red Flags Rule and ID
Verification solutions will be
offered to all
VisionMenu, Inc., dealerships
nationwide.
VisionMenu, a high quality provider
of software selling solutions to
Automotive and Powersports
dealerships, selected Veratad to
provide a seamless solution that is
delivered to dealers directly within
the 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.”
Finance professionals are in a
perfect position to assist their
dealerships with Red Flags Rule
compliance requirements by including
the identity verification with OFAC
just before vehicle delivery. This
approach not only protects
consumers, but also protects the
dealership from fraudulent
transactions without interrupting
the early stages of the sales cycle.
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.
About VisionMenu, Inc.
VisionMenu is a high quality
provider of Software Selling
Solutions to Automotive and
Powersports Dealers. The VisionMenu
PRO platform includes VisionMenu,
VisionDesk, and VisionReport. These
solutions help dealers sell more
units, increase F&I product sales,
and gives them the analytics they
need to evaluate profitability.
VisionMenu was designed by The
Vision of F&I, Inc., a leading
provider of Sales and F&I Training.
The sales expertise of The Vision of
F&I gives VisionMenu a unique user
interface to make it the most
effective sales tool of its kind.
VisionMenu currently integrates with
25 product rating and enrollment
web-services. For more information
go to www.visionmenupro.com
About Veratad Technologies, LLC
Veratad Technologies, LLC (
www.Veratad.com
) is a world class provider of
real-time online Identity
Verification and Knowledge Based
Authentication Solutions designed to
verify an individual’s identity and
age while maintaining a high level
of consumer privacy. In addition,
Veratad offers a unique online Red
Flag Rules Compliance tool for the
creation of an ID Theft Prevention
Document and Employee Training
designed to meet the compliance
requirements of FACTA.
For more information contact:
Tom Canfarotta
Senior Account Executive
Veratad Technologies, LLC
Teaneck, New Jersey
P: 201-510-6000 ext 120
F: 201-510-6036
sales@veratad.com
Forward-Looking Statements
In
addition to the historical
information contained herein, this
press release contains forward
-looking statements, such as
statements regarding the Company's,
and the combined companies',
anticipated future performance,
including the ability of the
combined companies to expand
verification and e-commerce
capabilities; to increase product
offerings and the size of the
distribution channel; as well as
statements containing the words,
"believes," "intends,", and similar
words. Such forward-looking
statements involve known and unknown
risks, uncertainties and other
factors which may cause the actual
results, performance or achievements
of the Company, or industry results,
to differ materially from any future
results, performance or achievements
expressed or implied by such
forward-looking statements. Such
factors include, among others: the
Company's limited operating history
and variability of operating
results; competition in the
electronic verification and commerce
market; the ability of the combined
companies to successfully offer the
market expanded verification and
privacy tools and e-commerce
capabilities and services and the
market's acceptance of such
offerings, and other risk factors
referenced in this release. |
