International. Autonomy, a digital vehicle subscription service, and Equifax announced a new partnership. Autonomy will use Equifax InstaTouch ID, a mobile consumer identification and authentication solution, along with differentiated equifax data and analytics to enable a 100% digital subscription transaction to be made over a consumer's smartphone in as little as 10 minutes.
Through Autonomy's new subscription model, customers pay a monthly fee and a start-up fee, which cover the cost of vehicle underwriting plus routine maintenance costs, roadside assistance and, soon, car insurance. With this service, drivers can find a car, qualify in minutes, and activate their subscription and payment method, entirely from their phone, Autonomy says.
It's worth noting that vehicle subscriptions represent a new option for gaining access to a vehicle along with existing options for buying a car with cash or obtaining a car loan or lease.
Scott Painter, CEO and founder of Autonomy, said: "InstaTouch ID uses alternative and differentiated equifax data sources to authenticate a consumer's identity. This allows for pre-filling of consumer data during the online application, providing a simpler, lower friction experience. By combining InstaTouch ID with Equifax data, Autonomy can get quick and easy digital consumer verification and creditworthiness, while delivering a simple and seamless consumer experience."
Lena Bourgeois, general manager of automotive services at Equifax, said: "Leading subscription services today and tomorrow will define the new digital retail in the automotive industry, where consumers enjoy a fast, smooth and reliable transaction process in a mobile environment."
"We are excited to leverage our advanced data, tools and resources that only Equifax can offer to help propel Autonomy forward as a leader in subscription services today and beyond."
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