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.
Pre-approval rates increased by 35%
Decreased application review time to under 10 minutes
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.
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.
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.
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.
Since day one, Jetty’s goal was to automate the onboarding and credit underwriting process to improve the accessibility to renting a home.
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.