Trust Stamp and Botdoc have announced a strategic partnership aimed at bolstering security within the automotive industry. The collaboration will see Trust Stamp's low-code Orchestration Platform integrated into Botdoc's Connect product, enhancing identity verification and Know Your Customer (KYC) processes. This integration will include document validation using the Driver License Data Verification System provided by the American Association of Motor Vehicle Administrators (AAMVA). Trust Stamp has secured a license from AAMVA to access this system, ensuring accurate and reliable identity verification.
The partnership comes at a critical time, as both companies have observed a growing trend of criminals using counterfeit or altered driver's licenses, driving permits, and ID cards to commit fraud. With nearly 80,000 cars stolen from dealerships in the past year, the need for robust identity document validation is more pressing than ever. Trust Stamp and Botdoc, both graduates of the Independent Community Bankers of America ThinkTECH accelerator, have previously collaborated in various sectors, including banking, lending, and insurance.
Botdoc customers will benefit significantly from this partnership, as they will be better equipped to combat fraud. Trust Stamp's low-code Orchestration Layer platform offers real-time capabilities to verify driver's license and ID information against data from the issuing agency. This feature significantly enhances the security and reliability of identity verification processes, helping businesses protect themselves and their customers from fraudulent activities.
The integration of Trust Stamp’s advanced technology into Botdoc's Connect product marks a significant advancement in the fight against identity fraud. It highlights both companies' commitment to leveraging innovative solutions to address complex challenges in the digital age.
