Equifax Inc. is addressing the rapidly evolving needs of the multi-family industry with a new, cloud-based Digital Identity Suite designed to help protect renters and property owners against identity fraud, reduce application friction, and mitigate fraud risk. When used alongside income and employment verifications from The Work Numberdatabase, the solutions can help credentialed property managers make more informed decisions and get rental applicants into homes faster. With over 44 million households currently renting in the U.S., property managers need solutions to help verify the identities of potential renters quickly and efficiently. Industry experts predict rental demand will climb over the next five years, making it even more important for property managers to know their renter - protecting themselves and the consumer from identity theft. In 2020, 47% of Americans experienced some form of financial identity theft according to the Aite-Novarica Group. Fraudulent renters applying for apartment units under someone else's name and social security number can quickly become an issue for property management firms, rental agencies and leasing agents, causing high financial losses. The Digital Identity Suite from Equifax helps property managers verify applicants' identities at the first point of contact to develop a baseline for subsequent interactions with that consumer. Getting the consumer's identity right the first time can assist in improving the overall experience and provides dual protection for both the consumer and the property manager. This new offering provides a layered approach to helping address identity fraud, including: Digital Identity Trust- Data match(es) and assessments verify the applicant's identity in real-time using as little information as a phone number, email, address and mobile device. Document Verification- Increase confidence in the applicant's identity using mobile capture and facial recognition. Identity Authentication with InstaTouch® ID. Bridge the gap between a frictionless consumer experience and minimizing fraud risk by leveraging patented mobile technology to authenticate an applicant's identity and pre-fill information quickly and confidently via a simple authentication check. Secure Multi-factor Authentication (MFA). Strengthen security and improve confidence by authenticating a mobile device and Subscriber Identity Module (SIM) card to ensure the applicant is in possession of the same device at the time of the interaction. FraudIQ® Synthetic ID Alerts- Leverage proprietary Equifax Artificial Intelligence (AI) algorithms and modeling to create holistic profiles that can unmask synthetic identities before a business is compromised. Adding automated verificationsof income and employment also can help property managers improve the application experience, making it quick and easy for both parties. By verifying applicant provided income and employment information through The Work Number database, property managers with a permissible purpose under the Fair Credit Reporting Act can tap into near-real-time data to keep an application moving forward. Applicants also appreciate not having to find, download, gather, submit and sometimes update documentation as part of the application process. These benefits also extend to rental housing providers involved in subsidized housing. Employment and income verifications through The Work Number service can provide the same efficient and timely benefits to Public Housing Authorities (PHAs) and the apartment owners who offer reduced rents to low-income tenants.