Today
General Motors Financial announced that it’s collaborating with
Spring Labs, the blockchain startup which aims to be the Equifax killer. The initial work will focus on identity verification and synthetic identity fraud which usually involves a criminal using some real stolen data and combining that with entirely fake data to create a new identity or a blended identity.
“As the captive finance arm for General Motors and one of the world’s largest auto finance providers, we are continually innovating and evolving our fraud prevention and detection capabilities to better serve and protect our customers and dealers,” said Mike Kanarios, Chief Strategy Officer at GM Financial.
Spring labs has a Spring Founding Industry Partners (“SFIP”) Program which GM is joining. Last month the startup announced that 16 organizations which helped fund more than $100 billion in loans had joined the program. They include SoFi, OnDeck Capital, Avant, GreenSky, Funding Circle, BlueVine, Fundation, Upgrade, Fundbox, and Better Mortgage.
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