VeriFast provides a secure digital verification platform that utilizes direct data sources for real-time verification of financial capabilities and digital identities. This technology streamlines the onboarding process for tenants and borrowers, reducing the time and effort required to confirm income, employment, and identity, thereby minimizing fraud risk.
Funding
$3.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Traditional methods of verifying a potential tenant's or borrower's financial capabilities and identity often involve manual processes and indirect data sources, leading to delays, increased risk of fraud, and inefficiencies in onboarding. Property managers and lenders face challenges in quickly and accurately assessing an individual's ability to pay and confirming their identity.
Solution
VeriFast offers a digital verification platform that directly connects consumers with lenders, property owners, and financial service providers, enabling real-time verification of financial capabilities and digital identities. The platform aggregates data from multiple direct sources to provide a comprehensive view of an applicant's income, employment, assets, and identity. By automating the verification process, VeriFast streamlines onboarding, reduces fraud risk, and accelerates decision-making for tenant screening and lending applications. The platform delivers detailed analytics and insights, including trended income, debt service calculations, and unique buying behavior, to facilitate informed decisions.
Target Audience
VeriFast targets property managers, landlords, mortgage lenders, and financial service providers seeking to streamline applicant onboarding, reduce fraud, and improve decision-making through automated digital verification.
Features
- Real-time verification of income, employment, and assets using direct data sources
- Digital ID verification with facial recognition
- Bank statement and paystub upload capabilities
- Trended income and cash flow analysis
- Debt service calculations
- Insights into spending patterns and buying behavior
- Secure consumer connections with data encryption
- Integration with existing lending and tenant screening workflows
- Customizable solutions for mortgage, lending, and tenant screening industries