THE BVRLA has launched a new version of its risk management software, RISC, to beat leasing fraud.
Developed by software provider Nexus, the BVRLA says its new-look RISC includes improved functionality to help vehicle rental and leasing companies identify and mitigate risks.
The revisions made to RISC make it easier for members to:
- search for details of prospective renters
- log new incidents of problematic customers.
The new RISC system provides a heat map to show where risk activity is being reported in real time.
The BVRLA can monitor incidents to issue general alerts on everything from identity fraud to a spike in the number of renters showing up with authentic-looking utility statements from bogus websites. The new platform means that RISC can also be integrated more easily into in-house software using an API.
Commenting on the revised RISC platform, BVRLA Director of Member Services Nora Leggett said:
“RISC is now an even more powerful loss prevention tool for our members. Opportunistic fraudsters and high-risk customers have become adept at sharing information to exploit vulnerable businesses. The collaborative environment of RISC will harness the power of the BVRLA community and help safeguard valuable assets.”
Some of the most common reasons for reports on RISC include non-conformance with terms and conditions, lack of payment, damaging the vehicle and abusive behaviour towards staff.
