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eLend Solutions
Overview
eLend Solutions, founded in 2003 and based in the United States, operates within the Consumer Services sector, specifically focusing on Automotive Service and Collision Repair. The company addresses issues related to identity fraud in the automotive retail industry, as evidenced by its 2022 Fraud Survey Report, which highlights significant increases in dealership identity fraud and related losses, amounting to over half a billion dollars in 2022. The report indicates that the rise in fraud is exacerbated by the pandemic and the increasing digitization of the car buying process, with a notable 88% of surveyed dealerships acknowledging a rise in identity fraud. eLend Solutions also produces case studies, such as the ELEND-ID Drive case study, which further explores themes relevant to fraud prevention and dealership operations. The company employs a team of 11 to 50 individuals and reported revenue of approximately $7.3 million, reflecting its focused engagement in enhancing dealership profitability and security in the face of evolving fraud challenges.