Use of DataTrue enables a rent to own company to verify information accuracy and avoid potential fraud by a customer before it occurs, ensuring accurate data input and the reduction of payroll dollars spent ineffectively attempting to manually verify application information.

Dan Jobrack, DataTrue

DataTrue, a provider of real-time customer information verification, has developed a system specifically for rent to own companies. The company also announced that they have been approved as a RentDirect vendor and will attend the upcoming Nationwide Marketing Group PrimeTime! buying show March 2-5 at the Hilton Anatole in Dallas, TX. Attendees and exhibitors can register here.

Dan Jobrack of DataTrue says the new system may very well revolutionize the way Rent-to-Own stores verify the information provided by customers, saving time, catching bad information and resulting in significant savings.

"In a normal RTO store situation without the assistance of DataTrue, verifying data provided in the RTO application or order form, can be tedious, if not impossible, and is therefore the task often put-off or never done at all," says Jobrack. "If the employee is doing their due diligence, then at best they spend no less than 15-20 minutes attempting to verify the banking information, references and personal data (confirming a working phone, correct address and employment information). For even the most diligent, generally only half the information needed is able to be confirmed."

When using DataTrue, with a simple push of a button at the counter terminal, all of this information is checked and either validated or not. All within 30-seconds or less and for under $1 per inquiry." Jobrack said DataTrue's information verification service is real-time, updated millions of times daily, and includes important data such as: customer address verification, telephone number verification, date of birth, social security number, bank account status (active/closed), routing number, account number, and employment verification.

Use of DataTrue enables a rent to own company to verify information accuracy and avoid potential fraud by a customer before it occurs, ensuring accurate data input and the reduction of payroll dollars spent ineffectively attempting to manually verify application information.

Jobrack said, "The average rent to own store may see 50 new and 100 repeat transactions in a month, and (spending 15-minutes to verify each one) is paying 37.5 hours or over $280 in payroll dollars (at $7.25 an hour) doing so. We verify 100% of all the same transactions for half the cost!"

Although the majority rent to own operators and retailers do a great job, the truth is that a significant number are not verifying 100% of their applications. Jobrack explained, "How often do you call a number and it is disconnected or they say they don't know the person? How often do you receive return mail or a check is returned on a closed account? DataTrue is not designed to take away from a business their underwriting decisions. It was created to help a user have as much information as possible to make a sound business decision."

Jobrack said preventing just one charge off per year due to fraudulent or inaccurate customer information pays for DataTrue service.

DataTrue offers several levels of service explains Jobrack. "In addition to the basic service, DataTrue has premium services with prices unmatched by any competitor for ACH'ing accounts, verifying account balances and freezing funds to be ACH'd, verification of personal references, background checks (both criminal and standard), landlord checks (both for a client as well as Landlord background checks for potential renters). The ability to transfer charged off accounts to 3rd party collections, credit reports and check guarantee are also services offered."

Jobrack concluded, "Our country's financial pulse has evolved over the past several decades. Today's financial atmosphere has become the world of sub-prime. And because we are a sub-prime nation, retailers and rent to own operators must continuously improve their application verification efforts to stay ahead of those that would supply fraudulent data."

For more information visit them at www.datatrue.net ,contact Dan Jobrack at djobrack@datatrue.net or call 209.951.9375.