Auto Loan Closings
Scenario: A leading auto lending company seeks to streamline and enhance its customer verification processes to minimize the risk of identity fraud and ensure the authenticity of borrower profiles.
The auto lender integrates Greenlight Data into its onboarding process, inviting prospective borrowers to create digital identities using ChainIT.
Borrowers, prompted by the lender, install the ChainIT app and complete a secure identity verification process, including biometric validation and authentication of government-issued ID documents.
Digital Identity Creation
Greenlight Data captures comprehensive metadata for each borrower during the identity verification process, including GPS coordinates, timestamps, and photos.
The lender gains a holistic and fraud-proof view of each borrower, establishing a reliable foundation for the lending relationship.
Organizational Verification (Optional)
For business borrowers, the lender can connect directly to the Secretary of State portal through ChainIT, ensuring the legitimacy of organizational information.
Cross-verification against the most recent state records eliminates the risk of outdated or incorrect organizational details.
Requests and Documentation
Lenders can send requests for additional documentation through the portal, enabling borrowers to upload required files securely using the ChainIT app.
Metadata associated with the documentation provides transparency and aids in the monitoring of borrower progress.
The lender, along with other involved parties, reviews the comprehensive Loan Closing Token, ensuring the accuracy of information and associated documentation.
Documentation and Compliance
The lender easily generates a secure PDF of the Loan Closing Token and associated documents for compliance and auditing purposes.
Greenlight Data's immutable records contribute to the lender's adherence to regulatory requirements.
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Step-by-Step Use Cases
Explore a variety of industries that can streamline processes and ensure transparency with Greenlight.
WHO WE ARE
Patented by Black Ink Technologies™
We eliminate opportunities for fraud and ensure that data accuracy and integrity are maintained with easy validation.
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