Trust Stamp President Andrew Gowasack and Karl Falk, CEO of Botdoc, have announced a new strategic partnership to enhance security measures in the automotive industry. The collaboration will integrate Trust Stamp’s low-code Orchestration Platform into Botdoc's Connect product, significantly improving Identity Verification and Know Your Customer (KYC) processes.
This integration will feature document validation using the Driver License Data Verification System from the American Association of Motor Vehicle Administrators (AAMVA). Trust Stamp has secured a license to access this system, ensuring an accurate and reliable identity verification process.
Trust Stamp and Botdoc have a history of collaborating across various sectors such as banking, lending, and insurance. Both companies are graduates of the Independent Community Bankers of America ThinkTECH accelerator. They have noted an alarming increase in fraudulent activities involving counterfeit or altered driver's licenses, driving permits, and ID cards. With nearly 80,000 cars stolen from dealerships in the past year, there is a pressing need for robust identity document validation solutions.
Through this partnership, Botdoc customers will be better equipped to combat fraud. Trust Stamp’s low-code Orchestration Layer platform offers real-time capability to verify driver's license and ID information against data from the issuing agency. This feature enhances the security and reliability of identity verification, helping businesses protect themselves and their customers from fraudulent activities.
The integration of Trust Stamp’s advanced technology into Botdoc's Connect product signifies a major advancement in the fight against identity fraud. This partnership highlights both companies' commitment to leveraging innovative solutions to tackle complex challenges in the digital age.
