Snappt, a leading document fraud detection provider for residential apartment property managers, has introduced Snappt Identity (ID) Verification, a highly secure solution for authenticating prospective tenants.
This new offering is now integrated into Snappt Pro, the company’s comprehensive solution for fraud detection and identity verification.
For the past four years, Snappt has been at the forefront of helping leading members of the National Multifamily Housing Council (NMHC) combat fraud in the multifamily industry. With over four million documents scanned and an impressive 99.8% accuracy rate, the firm is now expanding its capabilities with the introduction of its ID verification technology.
Identity fraud is a significant and growing issue, with billions of dollars at stake. Recent technological advancements have made it increasingly easy for individuals to acquire fake IDs and circumvent the tenant screening process.
Snappt’s SOC2-certified ID Verification solution is both fast and accurate, conducting over 30 data point checks on every ID, including its expiration date, barcode matching, tamper checking, and more. Its cutting-edge biometric technology ensures that the ID photo matches a live person, a critical step in verifying the authenticity of individuals. This comprehensive solution can scan more than 4,600 global ID documents from 200 countries and territories.
Daniel Berlind, CEO of Snappt, said, “Identity fraud is a multi-billion-dollar issue that’s increasing at alarming levels. Unfortunately, recent advancements in technology have made it far too easy for people to obtain fake IDs and sneak through the tenant screening process. Enhancing our solution with identity verification allows property managers to detect fraudulent applicants right out of the gate, saving them time and ensuring the safety of their property.
“We’ve seen the positive impact fraud detection has had on protecting property values and reputation. Adding ID verification was a natural next step as we continue to look for innovative ways not just to detect fraud but end it.”
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