ALPHARETTA, GA--(Marketwired - Nov 11, 2013) - First Advantage, a Symphony Technology Group (STG) company and the leading global provider of screening analytics and identity solutions, today announced details of its collaboration with Experian RentBureau®, the largest rental payment database in the multifamily industry. Through this strategic collaboration, data from Experian RentBureau is linked to First Advantage's resident screening solution to help housing providers identify residents who may pose the greatest risk of skipping or making late payments.
With nearly one-third of the 300 million residents in the U.S. renting housing, and 64 million U.S. consumers with insufficient or no credit history, it is critical for housing providers to be able to identify individuals with good rental payment history, an indicator for potentially responsible tenants.
As the largest and most widely used credit reporting agency for the multifamily housing industry, Experian RentBureau receives rental payment data daily from a national network of more than 400 property management companies. By integrating this Experian data with First Advantage's resident screening solutions, property managers will have a thorough, streamlined process to view their applicants' background information including their positive or negative rental history.
As a result of this enhanced offering, First Advantage clients benefit from receiving rental payment history at the same time as their existing tenant screening data, delivering instant insight into the factors that shape their applicant selection processes. With access to such information, they can recognize habitually late paying residents and identify residents with little or no credit but good rental history. Equipped with this knowledge, housing providers can ensure they rent their properties to individuals most likely to pay on time, while reducing the potential risks of financial losses and additional recoupment expenses.
"The valuable and up-to-date Experian RentBureau rental payment history data provides multifamily housing providers with the additional data necessary to determine which applicants will be the best tenants," said Brannan Johnston, vice president and managing director, Experian RentBureau. "We are pleased to collaborate with First Advantage and help more housing providers access this crucial insight."
"Thousands of multifamily housing providers rely on First Advantage to conduct their resident screening processes to ensure they rent to qualified, responsible tenants," said William Franck, executive vice president, Client Portfolio Management and Customer Service for First Advantage. "Property managers reporting data to Experian RentBureau and leveraging the First Advantage resident screening solutions will now recognize the full benefit of rental payment data. By teaming up with Experian RentBureau, our clients benefit from the additional insight into their applicants' payment history, giving them a detailed view to help them make well-informed decisions."
Individuals attending the 2013 Multifamily Business Operations and Technology event, held at the Hilton Anatole in Dallas, Texas from Monday, November 11 through Wednesday, November 13, 2013, can learn more about the integration between First Advantage's resident screening solutions and Experian RentBureau by stopping by the First Advantage or Experian RentBureau booth. First Advantage will be exhibiting its industry-leading resident screening solutions at booth no. 112. Experian RentBureau will be exhibiting at booth no. 124.
Additional information about the event, including registration details, can be accessed at: http://www.nmhc.org/MeetingRegistration/meeting.cfm?NavID=115&MeetingID=229
About Experian RentBureau
Experian RentBureau is the largest and most widely used credit reporting agency for the multifamily industry. Experian RentBureau's database receives rental payment histories every 24 hours from property management companies and electronic rent payment processors and currently includes more than 10 million residents nationwide. Data contributors report their rental data to Experian RentBureau directly and automatically. Property management companies utilize this data to screen new rental applicants' payment history as part of their existing resident screening services.
To learn more about Experian RentBureau, please visit www.rentbureau.com.
About Experian
Experian is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2013, was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
About First Advantage
First Advantage provides comprehensive screening, identity and information solutions that give employers and housing providers access to actionable information that results in faster, more accurate people decisions. With an advanced global technology platform and superior customer service delivered by experts who understand local markets, First Advantage helps customers around the world build fully scalable, configurable screening programs that meet their unique needs. Headquartered in Alpharetta, Ga., First Advantage has offices throughout North America, Europe and Asia. More information about First Advantage can be accessed at www.fadv.com.
About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and being a partner in building great software and services companies. In addition to capital, STG provides transformation expertise to enable its portfolio companies to deliver more value to clients to retain and attract the best talent and to achieve best-in-class business performance. All STG portfolio companies are expected to grow through innovation. STG's current portfolio consists of 12 global companies with combined revenue of approximately $2.5 billion and thousands of employees spread across North America, Europe and Asia. For more information, please visit www.symphonytg.com.