Company Research Report: VeriFast, Inc.

Company Overview

Name

VeriFast, Inc.

Mission

VeriFast is on a mission to make verification better for everyone, providing a hassle-free, secure means of verifying tenants' and borrowers' financial ability to pay and digital ID within a single holistic platform.

Founded

No information is available.

Key People

Tim Ray, Co-Founder & CEO

Chad Guziewicz, Co-Founder & COO

Craig Schoen, Co-Founder & CPO

Jeremy Schaller, Chief Growth Officer

Jeanne Klein, VP of Sales

‍Hrayr Mkrtchyan, Product Manager

Farooq Qureshi, Director of Data Operations

Becca Stafford, Director of Client Success

Pascal Bilodeau, Customer Service Lead

Cédric Desfosses, Product Design Lead

Tala Bitar, Senior Account Executive

Kayla Gilmour, Data Analyst

Ashley Garza, Client Success Manager

Rob Strickland, Chief Revenue Officer

Chris Pornaras, Chief Commercial Officer

Headquarters

Toronto, Canada

Number of Employees

No information is available.

Revenue

No information is available.

Known For

VeriFast is known for being the #1 Verification-as-a-Service Platform, delivering a seamless digital onboarding experience and providing powerful consumer and borrower insights far beyond conventional credit checks.

Products

Products Offered

1. Mortgage & Lending Verification

Description: Real-time verification of income, assets, employment plus cashflow and P&L analyses to enhance mortgage lending processing and underwriting.

Key Features:

Real-time VOI (Verification of Income), VOA (Verification of Assets), VOE (Verification of Employment)

Cashflow and P&L analyses

2. Tenant Screening & Leasing

Description: Automates tenant screening with real-time Digital ID and Financial Verifications, streamlining applicant onboarding within minutes.

Key Features:

Digital ID verification

Financial verification

High-Level Description of the Platform

VeriFast delivers deep analytics with a complete digitally powered platform that cross-references hundreds of digital financial, employment, and ID data points to drive insights for instant decision-making. It supports tenant applicants and borrowers by securely connecting them with lenders, property owners, and financial service providers.

Key Features of the Platform

Secure Consumer Connections

Data Enriched Accuracy with Advanced Categorization

Bank Statement / Paystub Upload

Detailed Analytics such as Trended Income, Assets, Rent Payment History, Cashflow Analyses, and more

800% Increase in Data Categorization vs. Single Source Solutions

Comprehensive Verification including NSF/Overdraft Activity, Pay Day Loan Activity, etc.

Recent Developments

New Products Launched

VeriFast Platform Enhancements: Recently implemented OCR (Optical Character Recognition) for bank statement and paystub upload as a waterfall to ensure all applicants can verify their financials.

New Features Added

Digital ID Verification: Enhanced security options integration to streamline digital ID verification.

OCR Implementation: Introduced OCR to allow for easier verification of financials through pdf statements.

Partnerships

1. FundMore Partnership: FundMore, an award-winning mortgage underwriting software, partnered with VeriFast to upgrade digital verification for lenders, enhancing security and automated fraud detection in the mortgage application process.