ResidentID
What if you could spot identity fraud BEFORE it happens, not AFTER a resident moves in?
Leveraging years of best practices from the financial services industry, ResidentID® is TransUnion’s identity management solution designed specifically for multi-family operators. It enables you to verify identities and detect potentially fraudulent applicants without impacting the speedy approval of high-quality, “real” renters.
Features
Avoid the frustration and financial burden of fraudulent residents
Get three layers of protection against identity fraud:
- Identity Verification: Gauge a given identity’s risk with advanced analytics, compared to established fraud indicators
- Digital Verification: Evaluate the risk of the device used for an application to act with greater confidence
- Identity Authentication: Further evaluate applicant identities using text messages and targeted questions
Configurable settings: Customize TransUnion ResidentID to better suit your market and tolerance for risk
Flexible service levels: It’s your choice to verify; verify and authenticate; or verify, authenticate and use digital verification
Simple integration and customization: Seamlessly add the security of identity verification into your existing workflow in a way that looks and feels like your brand
Fraud mitigation: Reduce operational costs and comply with industry regulations
Partner Testimonials
“[Applicant-based fraud] is a big issue, particularly in urban locations. We’re moving more into online fraud now because we’re encouraging everyone to lease an apartment online, get their credit checks online and sign the lease online. We love being off paper, but sometimes we don’t meet applicants until they move in, so this increases the risk for fraud.” *
Regional VP, Property Management Company
“Unfortunately, most of the time we identify fraud after move-in, which is terrible and puts us in a risky position. If we can identify fraud in advance, that’s great.” *
Regional VP, Property Management Company
“One of the biggest concerns is how [fraud] impacts our reputation. It can cost us business from our clients and oftentimes from other clients who weren’t even impacted by the fraud. It can cost us a management portfolio. We look at that as a smear against our reputation and our operational abilities. There’s a very high cost and it’s not so much about the monetary implications as much as it’s about the reputation.”*
Director of Real Estate, Property Management Company
of property management companies have experienced fraud - in just the last 2 years*
experienced fraud up to 20 times — that's the vast majority*
identified fraud within the first 6 months, leading to turnovers well before a typical lease cycle*
*A commissioned study was conducted in August 2018 by Forrester Consulting on behalf of TransUnion.
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