UCDP Ep #64 - Interview with Todd Smith on Identity Verification & Fraud Prevention in the Auto Industry

In this episode of the Used Car Dealer Podcast, Zach interviews Todd Smith, founder of QoreAI, a startup focused on identity verification and transactional fraud prevention in the automotive space. They discuss the recent CDK DMS hack, the prevalence of transactional fraud, and the future of secure document management in the automotive industry. The conversation also delves into how technology impacts credit affordability and what dealers can do to enhance their security measures.Some of the questions asked on the podcast include:Q) Todd, can you share your background and how you started in the automotive industry?Q) What inspired you to focus on identity verification and fraud prevention in the automotive space with your latest startup?Q) What are your thoughts on the recent CDK hack and its impact on the automotive industry?Q) How prevalent is transactional fraud in the used car industry, and what types of fraud do dealers commonly face?Q) Can you explain how secure deal document management works and its importance for protecting Personally Identifiable Information (PII)?Q) How does credit affordability impact a customer's ability to purchase a vehicle? What trends are you seeing, and what role does technology play?Q) How does QoreAi assist dealers with identity verification and fraud prevention?Q) What challenges do dealers face when implementing security measures, and how can they overcome them?Q) How do you see the future of identity verification and secure document management evolving in the automotive industry?Q) Are there any upcoming regulatory changes regarding data protection and identity verification that dealers should be aware of?Q) What advice would you give to dealers starting to focus on improving identity verification and fraud prevention processes, and how can they stay ahead in protecting customer data and ensuring secure transactions?Listen to our other podcast episodes: https://www.sellyautomotive.com/podcastTranscribe of this podcast - https://blog.sellyautomotive.com/blog/todd-smith