The bank check empowers the applicants to control the release of their own information while simplifying the entire process. Ciana Canci, Administrator
Canci Rentals is a residential property management company based out of Ottawa, Ontario, Canada. Being a family owned and operated business, Canci Rentals is dedicated to ensuring that their rentals are not just a house, but a home. Customer service is one of Ciana Canci’s utmost priorities, so when she was looking for services to improve the day to day operations of her family’s business, she also wanted to ensure that any new systems initiated would also improve customer experience. The journey led her to discovering and implementing VeriFast’s Bank Check as a part of their tenant screening process. Before using VeriFast, when an applicant would apply to one of their properties, Ciana would send a PDF application to potential tenants, but often applicants struggled to get through their application.
“We’d receive hard to read, incomplete or at times incorrect information. There would also be the risk that the applicants could email their sensitive information to the wrong person. Most times, our applications had been printed out and submitted as handwritten documents, which meant we’d have to manually type out their applications in order to process them.” VeriFast’s tool alleviated these pain points for Canci Rental’s applicants. With VeriFast Bank Check, applicants applied to one of their available units while consenting to the release of their transactional data from their banking institution. Doing so relieved the burden of proof on Canci’s applicant’s to provide their information. VeriFast’s system automated the process of an applicant providing documentation that would prove monthly income, employment, financial stability, and a history of renting and payment. VeriFast’s income verification system instantly received the applicant’s details and sent a report to Canci Rentals within minutes, eliminating the workload on the applicant’s end. “We rarely have to help applicant’s through the process now.” Further, VeriFast has identified potential tenants that normally would fly under the radar because traditional proof of income sources lacked the ability to account for other revenue streams such as side-hustles, small businesses and other ventures.
The benefits to the applicants have been enormous, and in turn mitigated several downsides for Canci Rentals. Additionally, the security and the privacy of the applicant’s sensitive data is no longer a concern for Canci’s business, as VeriFast encrypts the applicant’s data and anonymizes the applicant’s information after thirty days, meaning that Canci Rentals was no longer storing and managing an applicant’s private information. “We do not have to handle and protect information we don’t need. We can focus on the financial and verification process,” said Ciana. “VeriFast is good to use, the bank check has really streamlined the process for our applicants and us.”