CINCINNATI--(BUSINESS WIRE)--FlexPath™ DXP (FlexPath), a FinTech (Financial Technology) company announced the launch of VeriQual™. This patent-pending technology is a first-of-its-kind revolutionary method for identity verification and credit prequalification.
Within seconds from the initial engagement of VeriQual™, users can prequalify for real credit options by providing as little information as a phone number.
“WOW, is the response from dealers, lenders, and vendors who’ve experienced VeriQual.” said FlexPath CEO Tarry Shebesta “This is a fintech industry game changer!”
Current credit prequalification services and digital retailing solutions require the user to input personal information, Name, Address, Phone #, Email, and more, to begin the prequalification process. This method is susceptible to identity fraud if you don’t confirm who is providing the information. VeriQual™ helps mitigate identity fraud while making it easier and faster for consumers to get prequalified.
In addition, form abandonment is a critical problem when driving conversions. In the financial industry, form abandonment rate is a staggering 76%, the highest rate of any industry. Most form abandonment is because of security concerns that require personal information.
“We’ve seen a big increase in lead volume using VeriQual over other prequalification tools.” says Keith McCluskey, owner of McCluskey Chevrolet, Inc., the largest new and used vehicle Chevrolet dealer in the world “A third of those prequalified take a meaningful purchase action.”
VeriQual™ enables more accurate data collection and helps eliminate traditional form-fill abandonment that other credit prequalification tools use.
VeriQual™ uses soft-pull credit bureaus that are more consumer-friendly than a hard-pull as it doesn't affect their credit score and can avoid them being solicited for other finance-related products and services.
VeriQual™ covers all verticals - auto, powersports, RV, marine, and other industries including real estate and buy now, pay later web apps! Dealers, lenders, and vendors can white-label the web app or API access is available to financial service providers and digital retailing solutions.
About FlexPath DXP, LLC
FlexPath DXP is a Digital Experience Platform, with deep roots in online sales and marketing, developing revolutionary SaaS fintech solutions, enabling organizations to deliver more personalized and targeted marketing efforts, enhance customer experiences, and drive efficiencies and value for all parties involved.
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