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You are reading: Snappt vs. The Work Number: Which is Best For Your Property?

February 26, 2024

Snappt vs. The Work Number: Which is Best For Your Property?

Daniel Berlind
CEO

In the fast-paced realm of property management, having the right tools is crucial. That’s where Snappt and The Work Number step in! They offer powerful tools tailored for property managers, aiming to simplify their jobs and ensure the safety of their residents and property.

Although these companies operate within the same space, they serve distinct purposes for property managers. Let’s investigate Snappt and The Work Number, comparing their key features and functionalities. Then, you can make an informed decision for your properties.

Primary Function

Snappt and The Work Number offer different features for property managers. Snappt is designed to detect fraudulent documents and verify applicant IDs, and The Work Number is meant for income and employment verification.

Snappt’s AI-enabled fraud detection software meticulously analyzes over 10,000 data points on bank statements and pay stubs, guaranteeing the authenticity of submitted documents. They offer extensive ID verification services, capable of scanning more than 4,600 documents from 200 countries and territories.

The Work Number is an income and employment verification platform. Income verification (also called income auto calculation) can help property managers calculate an applicant’s total income, and employment verification is an easy way to ensure that an applicant is employed where they say they are.

Integrations

Property managers are always searching for ways to simplify their processes. Integrations can help them achieve that goal. By seamlessly incorporating various tools and platforms into their operations, they can streamline tasks, speed up the process, enhance efficiency, and provide a more seamless experience for themselves and their tenants. Integrations can also help securely sync data, reducing the need for manual copy-pasting.

Switching between various applications, known as context switching, can pose a significant challenge for leasing teams, impeding their productivity and efficiency. According to psychologist Gerald Weinberg, each extra task or ‘context’ you switch between uses up 20–80% of your overall productivity. For example, switching between two tasks can eat up 40% of your productive time for each, and 20% is lost to context switching; switching between three tasks at a time can eat up 20% of your productive time for each, and 40% is lost to context switching. Property managers can avoid this problem by integrating the platforms they use daily.

Snappt offers several integrations with third-party software, including Yardi and ResMan, and has a roadmap of integration offerings on the horizon.

The Work Number has a universal API integration, allowing you to sync with various other platforms.

SOC2 Compliance

Any software that deals with customer data needs to be incredibly accurate and provide an extremely high level of security. These products handle highly sensitive data, so avoiding unreliable competitors is very important.

Understanding the ins and outs of SOC2 compliance is essential, as it signifies a company’s dedication to maintaining high information security. Being SOC2-compliant provides organizations with the necessary tools to halt cyber attacks and breaches, setting them apart from any non-certified companies.

Snappt and The Work Number are both SOC2-certified and are proud to provide the highest level of security for customer data.

Identity Verification

ID verification is an essential component of a property manager’s toolkit, serving to enhance security, prevent fraud, ensure legal compliance, and ultimately contribute to a safer and more efficient rental environment. Verifying the identity of prospective tenants helps ensure the community’s safety and can minimize the risk of dealing with fraudulent individuals who may provide false information or steal someone else’s identity.

Snappt offers ID verification as part of Snappt Pro, its comprehensive fraud detection and identity verification plan. Its technology can instantly scan over 4,600 document types from 200 countries and territories. ID verification takes just a few seconds, and its validation process includes a passive liveness scan and over 30 comprehensive checks, ensuring that every ID scanned undergoes meticulous security protocols.

The Work Number does not list ID verification as a feature. You must use a separate platform to protect your property from identity fraud.

Snappt or The Work Number – Which Do You Choose?

Now that you have all the necessary information, which company do you choose?

Snappt is your go-to solution for fraud detection and identity verification. Their 99.8% accuracy rate greatly minimizes the risks of fake documents slipping through your leasing process. Their industry-leading ID verification service also empowers property managers to safeguard their properties from identity fraud.

Snappt is also SOC2-certified. Leasing teams can rest easy at night knowing that their customer’s data is safe and secure. Their customer support team is dedicated to helping you integrate their software smoothly into your existing process and answer any questions you may have.

The Work Number is a solution if you need income and employment verification in your applicant workflow. Thanks to their API, they work with most property management systems and can provide instant results.

To Sum Up…

In the world of proptech, Snappt and The Work Number offer technologies meant to protect your property and your tenants better. Both platforms have their perks, and the choice ultimately depends on the needs of your business.

If your primary concern revolves around bolstering your defense against fraud and evictions, Snappt stands out as the top pick. With a vast database of over 4 million scanned documents, its accuracy and effectiveness in catching fraudulent activities are noteworthy. Snappt’s user-friendly interface, SOC2 certification, and excellent customer support make implementation a breeze.

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