ResMan Fraud Detection Addresses Pressing Need to Identify Fraudulent Financial Documents During the Application Process
ResMan by Inhabit, a leading property management SaaS platform provider, announced the extension of the ResMan platform to include financial document fraud detection. These new capabilities identify fake and manipulated financial documents with 99.8 percent accuracy, so properties using the solution can be sure that financial information, including pay stubs and bank statements, accurately reflect applicants’ financial state.
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“Applicant fraud is a significant challenge for all properties – whether property management companies realize it or not,” said Michael Dunn, CEO of ResMan. “Across the industry nearly 10 percent of documents provided by applicants are fraudulent, and 50 percent of evictions start with a fraudulent financial document. As an organization with a customer-driven product roadmap, we recognize the financial impact that a solution like this can have for our customers. We were impressed with the thoroughness, accuracy, and ease of use of Snappt’s market-leading document fraud detection solution, and we chose to partner with them for this white label offering which we are calling ResMan Fraud Detection.”
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ResMan Fraud Detection, powered by Snappt works by scanning financial documents uploaded by prospective renters during the application process. The solution checks more than 10,000 data properties to determine if the document is fake or has been manipulated and delivers an authenticity analysis report to leasing agents through the applicant’s profile within the ResMan platform. The solution helps operators comply with the FCRA (Fair Credit Reporting Act) and with Fair Housing laws, and it provides a clear and easy to understand return on investment (ROI) to properties because it prevents evictions and bad debt by allowing properties to catch fraudsters before they are offered a lease.
“ResMan is a best-of-breed property management platform that has been helping properties grow and operate more efficiently for the last decade. We’re excited to partner with them in making it seamless for properties that run on ResMan to minimize the chance of renting to high-risk tenants and eliminate costly evictions and debt,” added Kyle Nelson, Snappt’s Vice President of Strategic Partnerships.
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