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      CUSTOMERS – Case Study

      Lithia & Driveway

      Vouched’s AI-Powered Identity Verification Transforms Digital Onboarding for America’s Premier Auto Retailer

      Shortly after launching our new eCommerce platform, we found ourselves ill-equipped to handle fraud attempts targeting our business. We turned to Vouched and it was a game-changing decision. Our lost profit due to fraud was immediately reduced by 80%, and our relationship grew into a partnership as they customized solutions for us. I highly recommend Vouched. 

      - JASON COHEN, DIRECTOR OF SALES OPERATIONS 

      ABOUT

      Lithia & Driveway (NYSE: LAD) is one of the largest global automotive retailers providing a wide array of products and services throughout the vehicle ownership lifecycle. Convenient and hassle-free experiences are offered through their comprehensive network of physical locations, e-commerce platforms, captive finance solutions, and other synergistic adjacencies. They deliver consistent, low-risk, and profitable growth in a massive and unconsolidated industry. Their highly diversified and competitively differentiated design provides them the flexibility and scale to pursue their vision to modernize personal transportation solutions wherever, whenever, and however consumers desire. 

      THE CHALLENGE

      Traditional Onboarding Created Digital Bottlenecks and Exposed Risks

      Driveway, a subsidiary of Lithia Motors, wanted to redefine their customer onboarding experience for online car transactions. They initially faced challenges with manual KYC protocols, which not only consumed significant human resources but also typically took 10-15 minutes per customer verification, leading to inefficiencies. The need was clear: a transition to a digital-first, automated, efficient onboarding process. 

      THE SOLUTION

      Digital Transformation Through AI-Enhanced Identity Verification

      Lithia & Driveway's collaboration with Vouched was the cornerstone of their digital transformation strategy. Leveraging AI-driven identity verification, they overhauled their ID verification process, ensuring rapidity, precision, and reliability. The VouchedAuto solution allowed Lithia & Driveway to automate verification, mitigate fraud, and maintain regulatory compliance.

       

      THE RESULT

      Setting New Standard in Efficiency, Savings, and Customer Service

      The partnership between Lithia & Driveway and Vouched has yielded impressive results, revolutionizing the way Lithia & Driveway operates and interacts with its customers.

      Skyrocketing Efficiency

      By adopting Vouched's automated identity verification and fraud detection solutions, Driveway was able to significantly reduce their manual KYC hours each month, allowing their team to focus on more crucial tasks and boosting overall operations efficiency.

      Impressive Cost Savings

      Through their digital transformation, Lithia & Driveway realized substantial savings in their operation costs linked to KYC processes, strengthening their position in the competitive automotive industry.

      Fortified Against Fraud

      By integrating the VouchedAuto solution, Lithia & Driveway reinforced their defenses against deceptive activities, resulting in a 65% drop in fraudulent transactions within the first year. This not only bolstered customer trust but also solidified a secure online car transaction environment. 

      Elevated Customer Experience

      The streamlined onboarding process powered by Vouched's solutions resulted in a significantly improved customer experience for Lithia & Driveway's users. Customers could now seamlessly and quickly complete the necessary verification steps, leading to a 40% reduction in average onboarding time, and boosting overall satisfaction with the platform. 

      Seamless Enablement

      Vouched's solutions were seamlessly enabled with a no-code solution in a record time of just 24 hours, highlighting the ease of implementation without requiring extensive coding.

      CONCLUSION

      As Lithia & Driveway embraced digital transformation with Vouched's technological prowess, the auto industry witnessed a paradigm shift. Their collaborative endeavor has reshaped the digital onboarding scene, making it robust, agile, and highly user-centric. The future of automotive digital onboarding looks promising, with trailblazers like Lithia & Driveway and Vouched at the helm.

      Verify With Confidence

      Unlock the full potential of your business with Vouched’s identity verification solutions. Get started today to enhance security, streamline onboarding, and protect your operations.

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