TORONTO, March 21, 2023 - Paays Financial Technologies (“Paays”), a leading provider of
FinTech for Auto Finance solutions, is pleased to announce a new partnership with Axis Auto
Finance (“Axis”), a leading provider of automotive financing in Canada. This partnership will focus
on Axis using the ID Verifier by Paays identity verification (IDV) solution to enhance Axis's
customer journeys and reduce the incidence of identity fraud occurring in auto finance
applications.
 
 
 The automotive financing industry is experiencing a rapid shift towards digitalization, with a
growing number of consumers preferring to conduct their business online. However, as the
industry moves towards digital channels, the risk of fraud has also increased. IDV Verifier by Paays
is designed to help mitigate this risk by providing an easy and secure way to verify the identities
of customers.
 
 
 By partnering with Paays, Axis can significantly improve the onboarding process for new
customers and reduce friction in the auto finance application process. This reduces the time and
resources required for manual identity verification processes, while also improving the customer
experience by providing a more convenient and efficient onboarding process.
 
 
 “Whether the customer is engaging with Axis directly, or through one of our trusted dealer
partners, we know that they have a strong desire for more of the auto finance process to happen
digitally”, said Axis President Ilja Troitschanski. “Axis is at the leading edge of delivering better
digital finance solutions to customers and dealers in Canada, and by partnering with Paays and
implementing their ID Verifier solution into both our direct and indirect channels, we can provide
smoother and safer digital experiences for both customers and dealers alike.”
 
 
 ID Verifier by Paays uses advanced artificial intelligence (AI), biometrics and optical character
recognition (OCR) technologies to analyze and verify the authenticity of identity documents,
providing a reliable and secure way to ensure that customers are who they claim to be. This helps
to protect Axis and its customers from fraudulent activities, ultimately improving the overall
security of the financing process.
 
 
 The partnership between Paays and Axis brings together two companies with a shared vision on
improving customer journeys with smoother digital processes combined with modern FinTech
and anti-fraud technologies. “We’re very excited to partner with Axis”, said David Fry, Founder
and CEO of Paays. “This a significant step towards the digitalization of the automotive financing
process in Canada. By leveraging the ID Verifier by Paays solution, Axis will be able to create a
better and smoother digital customer journey while also reducing the risk of fraud. We are
excited to be working with Axis Auto Finance and look forward to the positive impact that this
partnership will have on the industry as a whole.”

Axis and Paays partner to reduce ID fraud in auto finance

Axis is a financial technology company changing the way Canadians buy and finance used vehicles. Through our direct-to-consumer portal, DriveAxis.ca, customers can choose their next used vehicle, arrange financing, and get the car delivered to their home. In addition, the company continues to grow B2B non-prime auto loan originations by delivering innovative technology solutions and superior service to its Dealer Partner Network. All Axis auto loans report to Equifax, resulting in over 70% of customers seeing a significant improvement of their credit scores. Further information on Axis can be found at <a href='https://www.axisfinancegroup.com/investors-press-releases/' style='background: var(--gradient-blue-gradient, linear-gradient(90deg, #168ADF 0%, #44C8F5 100%)); background-clip: text; -webkit-background-clip: text; -webkit-text-fill-color: transparent; word-break: break-all;'>https://www.axisfinancegroup.com/investors-press-releases/.</a> <h1 class="text-[#2D3178] mb-[40px] mt-[40px] font-normal text-[32px] leading-[120%]">
 About Paays
 </h1>Founded in 2018, Paays is a Toronto-based FinTech solutions provider for digital identity, income verification, and pre-qualification solutions to Automotive Finance Dealers and Lenders. The Paays ID Verifier, targets identity fraud in vehicle financing with an easy-to-use smartphone application using advanced artificial intelligence, biometric, and anti-fraud technologies. Paays ID Verifier is now available directly from Paays, or through the RouteOne financing platform. Paays expects to be launching Income and Pre-qualification solutions in 2023. Learn more about Paays at <a href='https://www.paays.com' style='background: var(--gradient-blue-gradient, linear-gradient(90deg, #168ADF 0%, #44C8F5 100%)); background-clip: text; -webkit-background-clip: text; -webkit-text-fill-color: transparent; word-break: break-all;'>https://www.paays.com.</a>

Axis and Paays partner to reduce ID fraud in auto finance

About Axis Auto Finance