Naborly Announces Canada-Wide Referral Agreement as Equifax Canada's Preferred Tenant Screening Vendor

May 24/2017
press@naborly.com

Today, Equifax Canada® and Naborly announced a new credit data partnership which includes a web referral arrangement between the two companies. This arrangement allows Naborly to expand its access to credit data and to provide services to new market segments such as small landlords and property management firms (25 rentals or less). Prior to this arrangement, these market segments had proven difficult to service for large credit providers like Equifax.

Naborly has created a solution for customer credentialing and complex security controls with an approach that transforms the process from several weeks of paperwork and operational implementation to only a few minutes through the Naborly web application. Naborly’s CEO, Dylan Lenz explains, “A lot of small landlords and property managers have never been able to access tenant screening and reporting services because the credit bureaus were not designed to service rental businesses under 25 units under management.”

Naborly has succeeded in streamlining the credentialing process by building the required security and compliance infrastructure within their computer servers and then providing it to their clients through a cloud application; and, to their distribution partners via API.

“Our goal as a company is to provide the rental industry, both traditional and software service providers, with the foundational infrastructure that each of them is required to implement over and over again,” said Lenz. “Processes around credit and background check integration, rental history database integration and reporting systems, as well as tenant profiles. Landlords and tenants can use Naborly through many other RentTech software products and services, or we can be utilized as a standalone solution.”

Equifax, an industry-leading and trusted credit bureau, powers the financial future of individuals and organizations around the world with operations or investments in 24 countries globally. The partnership between Equifax and Naborly is indicative of Equifax’s desire to partner with leading financial technology startups that have goals synergetic with their own.

“We recognize the value of working closely with disruptive technology companies like Naborly, where there is clear value for both sides,” explains Chris Briggs, Chief  Marketing Officer of Equifax Canada. “In this case Naborly benefits from the established credit reporting network and global scale of Equifax. We benefit by having the opportunity to offer Equifax services alongside Naborly, allowing us to reach new customers and markets. However, the specific reason we are working with Naborly is because they are leaders in the field. Their technology has created a new standard for tenant screening providers, and we haven’t seen another company come close to the depth, accuracy, or the user-friendly nature of the Naborly product.”

Briggs and Lenz both were referencing Naborly’s technology initiatives towards democratizing rental history records and credit scores through Naborly’s Artificial Intelligence technology, Sherly.ai, and their open_DOOR database system.

“Since we began, our goal has been to solve the problems tenants experience around finding a place to live and helping to prove that they are reliable renters. We knew that we had to do it in a way that maintains their personal privacy, security, and liberty, while still assuring the landlord they are making the right choice,” said Lenz. “We’re glad that Equifax has decided to share our vision and help us continue to grow across our business across North America.”

 

About Naborly

Naborly is a technology company that focuses on automated risk analysis for the real estate industry to help landlords and property managers know who they’re renting to, before they move in.

Through the Naborly app, tenants create a digital rental application or “Renter’s Resume” where the tenant can securely provide their information, save, edit, update, and send the application to potential landlords without worrying about private information sitting in unsecured emails. Additionally, the Naborly tenant database system (open_DOOR) allows the tenant’s past landlords the opportunity to provide referrals or to report evictions, property damage, and missed payments.

After the tenant submits the application, Naborly’s AI system (SHERLY) is able to verify the identity, employment, and income of the applicant, as well as conduct a credit check and optional criminal record check. SHERLY then analyzes the applicant’s unique characteristics and finances against the attributes of the rental property, the neighbourhood, and the overall economic and market conditions to determine what risk an applicant may pose to the landlord.

Naborly’s analysis approach has proven to be disruptive to the traditional credit scoring and risk analysis industry due to their ability to screening more accurately and generate equitable scores for groups that have been traditionally disadvantaged in the old credit system such as recent graduates, immigrants, and low-income renters.

Since their launch in early 2016 Naborly has become a dominant player in the North American tenant screening industry and has dozens of API partnerships with industry leading property management software companies and startups. The company has grown to have relationships with thousands of landlords and property management firms allowing them to serve over 647,000 rental properties in North America.

For more information, visit: https://www.naborly.com

 

About Equifax

Equifax powers the financial future of individuals and organizations around the world. Using the combined strength of unique trusted data, technology and innovative analytics, Equifax has grown from a consumer credit company into a leading provider of insights and knowledge that helps its customers make informed decisions. The company organizes, assimilates and analyzes data on more than 820 million consumers and more than 91 million businesses worldwide, and its databases include employee data contributed from more than 6,600 employers.

Headquartered in Atlanta, Ga., Equifax operates or has investments in 24 countries in North America, Central and South America, Europe and the Asia Pacific region. It is a member of Standard & Poor’s (S&P) 500® Index, and its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. Equifax employs approximately 9,400 employees worldwide.

Some noteworthy achievements for the company include: Ranked 13 on the American Banker FinTech Forward list (2015); named a Top Technology Provider on the FinTech 100 list (2004-2015); named an InformationWeek Elite 100 Winner (2014-2015); named a Top Workplace by Atlanta Journal Constitution (2013-2015); named one of Fortune’s World’s Most Admired Companies (2011-2015); named one of Forbes’ World’s 100 Most Innovative Companies (2015). For more information, visit www.equifax.com