Snappt Announces Income Verification Offering to Further Aid Property Managers in the Fight Against Fraud

PHILADELPHIA, June 20, 2024 /PRNewswire/ -- Snappt, the leader in fraud detection for multifamily property managers, today announced the addition of income verification to its product lineup. As part of their newly launched Applicant Fraud Detection and Income Verification Suite, this cutting-edge technology is poised to elevate the way property managers make leasing decisions, ensuring a quick and secure application process.

Fraud is evolving faster than ever, and traditional methods of detecting fraud are no longer enough. Snappt's latest suite confronts these challenges directly, harnessing cutting-edge technology to offer holistic solutions. Alongside its acclaimed fraud detection capabilities, the newly introduced automated income calculation tool empowers property managers to streamline operations, saving time and reducing manual errors in the application process. Furthermore, its connected payroll offering simplifies the process of verifying an applicant's salary and employment status.

"Fraudulent applications and inaccurate income verification pose significant risks for property managers," said Daniel Berlind, CEO of Snappt. "With our new Applicant Fraud Detection and Income Verification Suite, we empower our clients to make informed decisions confidently, mitigating risks and safeguarding their properties."

Snappt's Applicant Fraud Detection and Income Verification Suite is backed by its industry-leading fraud detection technology, renowned for its accuracy and precision. Key features include:

• Proprietary AI-Powered Fraud Detection: Leverage advanced AI algorithms to detect a variety of fraudulent documents, flag fraudulent patterns, and check against a blacklist of known bad actors.
• Comprehensive Income Verification: Quickly verify applicant income with unparalleled accuracy through real-time income retrieval and connected payroll powered by Argyle, minimizing the risk of income-related fraud.
• Fast and Accurate ID Verification: Confirm applicant identities with best-in-class biometric technology, front and back ID scans, and the ability to scan 4,600+ global IDs.

Users can enjoy a seamless integration experience with their current property management software by leveraging Snappt's extensive partner ecosystem. These integrations optimize workflows and significantly enhance operational efficiency, allowing for a more streamlined and effective property management process.

Snappt's commitment to innovation and excellence emphasizes its goal of empowering property managers with the tools they need to thrive in today's competitive rental market. With the launch of the Applicant Fraud Detection and Income Verification Suite, Snappt reaffirms its position as the market leader in transforming the multifamily industry through technology-driven solutions.

Founded in 2018, Argyle is backed by top investors, including Bain Capital Ventures, Bedrock, Checkr, Rockefeller Asset Management, and SignalFire. Argyle is the leading provider of direct-source access to real-time income and employment data. With Argyle, companies automate critical workflows – including income and employment verifications.

Snappt Applicant Fraud Detection and Income Verification Suite will be available in Q3 2024. For more information on the product, visit www.snappt.com.

About Snappt:
Snappt makes it radically simple to trust an applicant's supporting documentation. Since its launch in 2019, its cutting-edge document fraud detection system has reshaped the multifamily industry. Today, eight out of the top ten property management firms rely on their technology, significantly reducing risk, bad debt, and evictions. Their latest innovation, the Applicant Fraud and Income Verification Suite, is set to revolutionize the way property managers make leasing decisions. Snappt has raised more than $100M in funding from leading fintech investors, and with a Net Promoter Score (NPS) of 76+, it is one of the highest-rated proptech companies in the world. www.snappt.com 

Snappt Media Contact:
Stephanie McGuirk, Interdependence PR
(845) 269-8868
[email protected]

SOURCE Snappt