—BuyerID Protects Dealership Profits—
POWAY, CA — First Advantage CREDCO, LLC, a wholly owned subsidiary of First Advantage Corporation (NASDAQ: FADV), a global risk mitigation and business solutions provider, today announced that BuyerID – the company’s suite of smart identity verification solutions – has helped automotive dealers verify more than 500,000 consumer identities in over 1,100 dealerships nationwide since it was launched late May.
BuyerID is available on over 40 dealer sales and finance platforms, including the REYNOLDSYSTEM™ from Reynolds and Reynolds, the automotive industry’s largest provider of dealer software and services, and a First Advantage CREDCO partner. BuyerID is also available directly through First Advantage CREDCO via its CREDCOServices.com platform.
“We are pleased to work with First Advantage CREDCO to help protect our dealer customers from fraud”, said Christopher Morris, senior director of F&I Services at Reynolds and Reynolds. “Integrating BuyerID into the Reynolds CreditMaster platform has proven to be a convenient and effective solution for protecting dealership profits.”
According to the FBI, identity theft is considered the fastest growing crime in the United States. Automotive dealers, which have become prime targets, are now motivated more than ever to protect their dealerships from related fraud losses.
“As the threat of identity theft and resulting dealership losses continue to grow, so does the demand for identity verification solutions,” said Eric J. Rumsey, president of First Advantage CREDCO. “BuyerID offers a solution that helps protect dealers from identity theft throughout the purchase cycle, and one that’s easily integrated into their F&I processes.”
The complete BuyerID suite includes BuyerID Alert, BuyerID Index, BuyerID Advanced and BuyerID Check.
First Advantage CREDCO expects the number of identity verifications through BuyerID to continue climbing aggressively during 2007 and beyond.
About Reynolds and Reynolds
Reynolds and Reynolds (http://www.reyrey.com) is the automotive industry's largest and most trusted provider of dealer software and services. It provides results for dealers worldwide through experienced people, proven practices and innovative retail solutions. These solutions include the REYNOLDSYSTEM™, which encompasses both the ERA® and POWER systems, along with a full range of sales, Web and customer relationship management solutions, documents, technical support, data management and integration services. Internationally, Reynolds serves dealers in more than 35 countries through a broad range of retailing solutions and consulting services. The privately-held company is headquartered in Dayton, Ohio, with major operations in Houston and College Station, Texas. It employs more than 6,500 associates.
About First Advantage CREDCO
First Advantage CREDCO, a wholly-owned subsidiary of First Advantage Corporation, processes millions of consumer transactions annually and is the leading provider of specialty credit reports and services to the automotive industry. The company also provides the automotive industry with comprehensive identity verification and consumer lead solutions.
About First Advantage Corporation
First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the automotive, mortgage and subprime markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; supply chain security consulting; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; insurance fraud, corporate and litigation investigations; surveillance; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software; renters insurance and consumer location services. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in St. Petersburg, Fla., and has more than 4,500 employees in offices throughout the United States and abroad.
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