Jetty

Jetty improves the renter experience with automated process powered by Alloy

Alloy helps Jetty improve the onboarding and credit underwriting process without compromising risk

At a glance

Industry
Fintech

Company Size
101-250

Established
2015

Location
NYC

Funding
$63.5MM

Jetty has been on a mission to make renting a home more accessible and affordable since 2015. The company’s suite of products helps property managers increase lease conversions, improve resident retention, reduce bad debt and boost Net Operating Income, while renters benefit from a decrease in the financial burden of moving into a new home and greater flexibility with how and when to pay rent.

As Jetty prepared to launch a new product, Jetty Rent, the company needed a way to confirm the identity of potential renters as well as complete a credit underwriting process based on their internal policies. After an extensive review, Jetty selected Alloy’s Identity Decisioning Platform.

With the help of Alloy’s automated process, Jetty has been able to improve the renter experience while decreasing the manual review time for each applicant. This gives the risk and product teams time to fulfill their mission of making home rentals more accessible.

35%

Pre-approval rates increased by 35%

10

Decreased application review time to under 10 minutes

Jetty was looking for a solution to help them get eligible good customers enrolled

Given the complexity of the underwriting process, the team was looking for a solution that would help them easily visualize their workflow from start to finish.

Alloy is very user-friendly—the tool empowered our team to quickly understand how the rules, tiers and tags work together.

Gal Katz - Senior Product Manager at Jetty

The team also wanted to ensure the solution would give them the flexibility to adjust their underwriting rules and credit box requirements as the product evolves with Jetty’s customer base.

Jetty chooses Alloy to add transparency and flexibility to their overall process

Alloy’s Credit Underwriting solution helps the team to assess the impact of changes to the credit box before implementing these changes with their client base.

What-if Analysis is a very important tool for us to use as we come up with new ideas or changes we want to test with very little effort.

Gal Katz - Senior Product Manager at Jetty

Jetty’s Services Operations team also uses Alloy’s product to help them review customer identity files. By automating the document verification process for customer IDs, Jetty decreased the decisioning time to under 10 minutes.

Working with our Client Success Manager, we were able to evaluate time-consuming activities and make the necessary changes within the application to speed up our ability to make decisions.

Cole Sickler - Senior Product Manager at Jetty

Alloy allows Jetty to make credit decisions that improve the overall customer experience

Since day one, Jetty’s goal was to automate the onboarding and credit underwriting process to improve the accessibility to renting a home.

Our risk team conducts sensitivity analysis on data provided by Alloy’s Credit Underwriting product and makes recommendations of changes to our credit box based on that analysis.

Gal Katz - Senior Product Manager at Jetty

Jetty has also been able to automate the process to provide pre-qualification decisions to applicants in seconds. This is a departure from the typical application process in the market, which can take days for a qualified applicant to receive a response.

Alloy makes it very easy to pull an evaluation and understand if an applicant was approved or declined — and why!

Gal Katz - Senior Product Manager at Jetty

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