Snappt Introduces AI-Driven Verification of Rent and Enhanced Financial Tools to Combat Fraud and Boost NOI
In an effort to revolutionize the multifamily housing industry, Snappt, a leader in applicant trust solutions, has announced the launch of its expanded Applicant Trust Platform at the NAA Apartmentalize conference. Central to this expansion is the introduction of Verification of Rent (VOR) powered by Trigo, alongside enhanced features such as Verification of Assets (VOA), bank account linking, and deeper fraud detection capabilities. These innovations aim to provide property managers with smarter underwriting tools, greater protection against fraud, and improved operational efficiencies.
Streamlined Verification of Rent to Improve Decision-Making
One of the standout features of Snappt’s platform is the new Verification of Rent (VOR) tool, which automates the process of verifying an applicant’s rental payment history. Traditionally, property managers have relied on manual outreach to previous landlords—a time-consuming and often unreliable method. With VOR, powered by Trigo’s advanced technology, this process is now fully automated, delivering accurate and actionable insights into an applicant’s rent payment behavior.
This innovation addresses a significant gap in the industry: less than 5% of rental history is currently available through traditional credit reporting agencies. Snappt’s VOR offers 25x more coverage than credit bureaus, achieving over 80% verification success compared to the industry standard of less than 50% for manual verifications. This broader data coverage enables property managers to confidently approve qualified renters while identifying applicants who are 4x more likely to default based on verified rent payment patterns that traditional credit reports often miss.
“Leasing should be fast, secure, and grounded in trust,” said James Hyde, CEO of Snappt. “Property managers today face mounting pressure to make quick decisions without compromising accuracy. Our platform empowers them to do just that—by providing real-time, reliable data that reduces risk and enhances decision-making.”
For renters, VOR also levels the playing field. Applicants with strong rent payment histories but limited credit profiles can now demonstrate their reliability, improving their chances of approval and helping property managers boost occupancy rates.
Enhanced Verification of Assets and Bank Account Linking
In addition to VOR, Snappt has introduced enhancements to its Verification of Assets (VOA) feature, allowing property managers to approve applicants with significant assets even if they don’t meet traditional income requirements. This flexibility directly supports higher occupancy rates and boosts Net Operating Income (NOI) by expanding the pool of creditworthy applicants.
To further streamline the application process, Snappt has partnered with Mastercard’s open banking platform, delivered by Finicity, to enable seamless bank account linking. This functionality allows applicants to instantly verify their financial information, reducing friction and speeding up approvals. By offering a more user-friendly experience, Snappt not only improves applicant satisfaction but also accelerates the leasing timeline.
Industry-Leading Fraud Detection and Security Features
Fraud remains a persistent challenge in the multifamily housing sector, costing operators millions annually. Snappt addresses this issue head-on with its industry-leading fraud detection technology. Backed by AI-driven analysis and a dedicated fraud forensics team, Snappt has reviewed over 13 million documents, ensuring unparalleled accuracy in identifying fraudulent applications.
The platform also includes robust ID verification capabilities, leveraging best-in-class biometric technology. With over 30 checks on an ID and the ability to scan 4,600+ global ID types, Snappt ensures that every applicant’s identity is thoroughly vetted.
Another key feature is Connected Payroll, which integrates directly with 90% of U.S. payroll providers to verify income and employment status in real-time. This eliminates the need for outdated paper-based processes and provides property managers with immediate access to critical financial data.
Setting a New Standard for Fast, Secure Leasing
Snappt’s expanded Applicant Trust Platform underscores its commitment to setting a new standard for fast, secure, and trusted leasing decisions. By combining cutting-edge technology with comprehensive financial verification tools, Snappt empowers property managers to stay ahead of fraud, accelerate approvals, and protect the integrity of their communities.
The platform’s benefits extend beyond fraud prevention and operational efficiency. By enabling property managers to make more informed decisions, Snappt helps improve occupancy rates, reduce tenant turnover, and ultimately drive higher NOI. For applicants, the streamlined process ensures a smoother, more transparent leasing experience, fostering trust and loyalty.
As the multifamily housing industry continues to evolve, Snappt’s innovations position it as a leader in addressing some of the sector’s most pressing challenges. With its expanded suite of tools, Snappt is redefining how property managers evaluate applicants, combat fraud, and build thriving communities.
Why This Matters for Property Managers
For property managers, the stakes have never been higher. Rising demand for rentals, coupled with increasing competition, has made it essential to adopt technologies that enhance efficiency and accuracy. Snappt’s Applicant Trust Platform offers a holistic solution that addresses these needs while also safeguarding against fraud—a critical concern in today’s digital landscape.
By integrating AI-powered verification, real-time data analytics, and partnerships with leading financial platforms like Mastercard, Snappt provides a comprehensive toolkit for modern property management. Whether it’s verifying rent payment history, assessing asset values, or confirming identity, Snappt’s platform ensures that property managers have all the information they need to make confident, informed decisions.
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.
