New features expand comprehensive verification platform, allowing for smarter underwriting decisions and greater protection against fraud
Snappt, the leading platform for applicant trust in multifamily housing, today announced at NAA Apartmentalize the upcoming addition of Verification of Rent (VOR) powered by Trigo. In addition to VOR, Snappt is expanding its platform with enhanced Verification of Assets (VOA) and bank account linking—now supported by a new partnership with Mastercard’s open banking platform, delivered by Finicity. These enhancements are part of Snappt’s expanded Applicant Trust Platform, providing comprehensive financial verification backed by real-time data and best-in-class fraud protection.
Verification of Rent, powered by Trigo, enables property managers to automatically and accurately verify applicant rental payment history, eliminating the need for manual outreach to previous landlords. This streamlined process provides reliable assessments for prospective renters, identifying applicants who are 4x more likely to default based on verified rent payment history that traditional credit reports miss. It also helps boost occupancy rates by proving reliable rent payment history for applicants who may have otherwise been denied.
With less than 5% of rental history available through traditional credit reporting, VOR delivers 25x more coverage than credit bureaus and achieves over 80% verification success, compared to the industry standard of under 50% (collected manually via the leasing agent). This gives property managers the comprehensive rental payment data they need to confidently approve qualified renters and reduce risk.
“Leasing should be fast, secure, and grounded in trust,” said James Hyde, CEO at Snappt. “Property managers today are under increasing pressure to move quickly without sacrificing accuracy. We are addressing this need and setting a new standard so operators can make decisions with greater confidence and less manual effort.”
Key features of Snappt’s Applicant Trust Platform:
- Verification of Rent (VOR): Automated, reliable verification of an applicant’s rent payment history.
- Bank Account Linking: Reduce friction for applicants by offering the option of instant verification and speed up application processing.
- Verification of Assets (VOA): Approve creditworthy applicants with significant assets who may not meet traditional income requirements, directly improving occupancy rates and NOI.
- Industry-Leading Fraud Detection: Snappt’s proven AI-driven detection technology and fraud forensics team have analyzed over 13 million documents, ensuring accurate results.
- Connected Payroll: Direct integration with 90% of US payroll providers instantly verifies income and employment status in real-time.
- ID Verification: Best-in-class biometric technology, complete with 30+ checks on an ID and the ability to scan 4,600+ global ID types.
These new capabilities build on Snappt’s mission to set the standard for fast, secure, and trusted leasing decisions. By expanding its verification platform, Snappt continues to help property managers stay ahead of fraud, accelerate approvals, and protect the integrity of their communities.
Stop by booth #345 at Apartmentalize to learn how Snappt is redefining trust in multifamily. To read more about these latest offerings, visit www.snappt.com/verification-of-rent
About Snappt
Snappt is the leading verification platform built for the multifamily housing industry. Snappt uncovers the truth behind every application—detecting fraud and verifying identity, income, and assets—so operators can confidently approve qualified residents and protect their communities. As the market leader for fraud detection, Snappt has analyzed over 13 million documents with an impressive accuracy rate of 99.8%. They are the only fraud detection company that conducts proactive fraud research, and they were recently ranked #1 in AI on the Inc. 5000 list. Visit www.snappt.com.
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Contacts
Media Contact:
Walker Sands
snappt@walkersands.com
