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Maintaining The Integrity Of The Rental Application Process
02-13-08
RTO Online - The rent to own industry's trade website
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The DATATrue system helps rental and payday loan stores maintain the integrity of the application process.

By Dan Jobrack, Executive Vice President, DATATrue, LLC

It's a fact of life that not everyone is as honest as we'd like them to be. While some omissions of fact may be innocent enough (i.e. inadvertently switching digits in a phone number) others are not (i.e. falsifying a social security number). Regardless of which occurs in your rent-to-own store, DATATrue makes it possible for store employees to access a system that automatically confirms important information on a rental agreement.

For less than one dollar per inquiry the DataTrue system provides information within a few seconds including; confirmed address with apartment number, phone number, social security number, date of birth, driver's license and bank account information. Social Security Look-Up for skip-tracing and reference information, both premium services, are also a click away. Plus you can verify up to six (6) personal references.

Improved technology plus enhanced privacy concerns have made the DATATrue product possible and necessary. Due to privacy laws, banks will no longer give out account information to callers looking to verify the existence of an account. Our system is a way with the push of a button for employees to verify what they are being told by a potential customer, unless one spends excessive time hunting down what may no longer be accessible through the conventional methods of yesteryear.

The DATATrue system helps rental and payday loan stores maintain the integrity of the application process, while helping them avoid fraud and save valuable manpower dollars at the same time.

Consider this example. If you serve 25 customers a week and spend $8.00 an hour for an employee to check all the information on a customer's application, say at 15 minutes each, you will spend $216 a month and 27 hours of time on the process.

By comparison the same efforts with DATATrue would be $97 dollars and less than one hour of processing time for the same monthly customers. That's a savings of 55% and 26 hours of valuable payroll time better used for service.

So DATATrue offers an avenue of significant savings both in time and money to a Rent to Own Dealer or Payday Loan Store. Plus you can truly verify every transaction instead of hoping that each one is verified, since it would no longer be labor intensive.

For more information or to see a no-cost Demo contact Dan Jobrack at djobrack@datatrue.net or call Dan at 209-951-9375.

 

 

RTO Online is the official channel for Rent-to-Own Industry News and the only independent source of news for the rent-to-own, rental-purchase, lease-purchase trade. RTO Online (Rent to Own Online) represents the choice of the entire RTO Industry for trusted information, as it happens.

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