Use Case
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.
Onboarding Process
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Cross-verification against the most recent state records eliminates the risk of outdated or incorrect organizational details.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.
Closing Process
Post-Closing
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.
Provide insights to customers
Our Difference
Immutable Recordkeeping
Our blockchain-powered system creates VDTs for each closing event, documenting the entire process in a tamper-proof and immutable manner. This record includes details of the participants, documents signed, and key milestones.
Referential Integrity
VDTs are linked to one another, allowing for easy reference and verification of the entire loan closing process. Each event can be traced back to its origin, providing transparency and reliability.
User-Friendly Interface
Our software is designed for ease of use by lenders, borrowers, and closing agents. Participants can confidently engage in loan closings using mobile devices or tablets.
Step-by-Step Use Cases
Explore a variety of industries that can streamline processes and ensure transparency with Greenlight.
Real Estate Loan Closings
Our Validated Data Tokens capture closing events and their comprehensive reporting system to ensure transparency and truth every step of the way.
Closing Attorneys
ChainIT IDs verify both organizations and individual borrowers to ensure secure closing transactions for each stakeholder involved.
Auto Loan Closings
Our Validated Data Tokens capture closing events and their comprehensive reporting system to ensure transparency and truth every step of the way.
Portfolio Lenders
ChainIT IDs verify both organizations and individual borrowers to ensure secure closing transactions for each stakeholder involved.
WHO WE ARE
Patented by Black Ink Technologies™
About Us
We eliminate opportunities for fraud and ensure that data accuracy and integrity are maintained with easy validation.
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