RealPage, a global leader in software and data analytics for the real estate industry, today announced two powerful new proptech offerings aimed at combating increasingly sophisticated and well-organized rental fraud in the multifamily housing industry.
The new offerings will be available with the company’s OneSite and On-Site leasing and property management platforms and leverage technology from Plaid, a global data network that enables simple, secure and reliable connectivity of financial data to apps and services.
The two solutions, RealPage Identity Verification – Premium and RealPage Income Verification, offer better protection and are seamlessly integrated into the existing leasing process, making implementation easier for employees and more efficient for applicants.
RealPage recently announced results of its comprehensive fraud study that shed light on the impact of fraud today, its increasing complexity, and the need for solutions to detect fraud early in the leasing process.
“Our national study found that often more than half of rental fraud cases are discovered after a resident has moved in, leaving the property vulnerable to significant damage,” said Josh Albrechtsen, RealPage SVP and GM, Front Office Solutions. “In collaboration with Plaid, RealPage is innovating to help customers detect fraud as early in the process as possible by providing diverse verification of data, devices, documents and biometrics, leveraging robust AI and machine learning while leveraging the Tenant registration process streamlined.” ”
The key features of these two new solutions include:
• Robust Anti-Fraud Engine – Detect more instances of fraud risk through AI, contextual analysis, advanced risk signal scanning, improved verification methods, and broader coverage of over 16,000 document types.
• Seamless user experience – Avoid losing prospects with an easy-to-use interface, fast identity verification, and full integration of verification processing and results into OneSite/On-Site leasing processes.
• Extensive Identity Coverage – Identity verification of over 16,000 ID document types in over 200 countries and territories.
• Improved Results Transparency – Providing authoritative information on each verification result to empower leasing staff to make informed application decisions and facilitate property-wide compliance with verification policies.
• Data from the source – Quickly and accurately verify income and employment by accessing consumer-approved data directly from tenants’ bank accounts, income documents or payroll providers.
“We are excited to partner with RealPage to put Plaid-powered identity and income verification in the hands of thousands of property managers across the United States. “Through this partnership, property managers can now access state-of-the-art fraud prevention tools that scan hundreds of risks and fraud vectors to deter fraudsters from applying to be tenants,” said Alain Meier, Head of Identity at Plaid. “We look forward to working with RealPage to help property managers approve more potential residents and reduce operational overhead.”