ATLANTA – Nov. 29, 2017 – First Advantage, a portfolio holding of Symphony Technology Group and the world’s largest background screening firm, today announced it has entered into a partnership with San Francisco-based Nova Credit Inc. to provide the property management and rental housing industry rapid foreign credit screening services of resident applicants who’ve not yet established credit history in the United States. The services will be offered immediately through First Advantage Resident Screening Solutions.
The new offering gives property owners and operators valuable insights about a prospective resident’s fiscal responsibility that is otherwise hard to find. This allows owners to improve occupancy rates, manage cash flow and enhance the reliability of, and peace of mind associated with, their resident pools.
According to Brent Bunger, executive vice president with Houston-based real estate firm Adara Communities, “It is a resource that is long overdue to the multifamily industry, and Adara is excited about the prospects of having future insight into what used to be an obscure process.”
Nova Credit and First Advantage’s collaborative property management solutions works by inviting applicants to submit a foreign credit check, which is automatically checked with various foreign bureau partners. The report is then made available, instantly, to aid property managers in making more informed and more timely leasing decisions.
“We’re thrilled to offer instantaneous credit screening that collects data from countries of origin – or multiple countries where a new American may have previously lived,” said Joelle Smith, First Advantage executive vice president. “We know that waiting can pose hardships all around, so the ability to gain rapid access to these reports before entering into leasing agreements is good news to property managers as well as our immigrant population.”
According to Peter Alderson, Head of Nova’s Screening Solutions: “Nova Credit is excited to partner with First Advantage to unlock instant foreign credit reports for the resident screening market. Immigrants today are often rejected or put through a cumbersome documentation process due to their lack of US credit history. This collaboration with First Advantage, the screening market leader, could enable millions more immigrants to be treated more equally and also provide the perfect accompaniment to First Advantage’s comprehensive set of screening products. Together, we’re excited to use technology and new data to offer a solution that is a win for both landlords and tenants.”
Individuals interested in learning more or receiving a demonstration of the new solution can contact Jennifer Bryan (jennifer.bryan@fadv.com / 214-236-6304) or Lindsay Ivens (lindsay.ivens@fadv.com / 612-454-9295).
About Nova Credit
Nova Credit solves the problem of sharing financial identity across borders. Headquartered in San Francisco, Nova Credit’s API technology helps global citizens provide access to their international credit data and start on their feet in a new home. For more information, visit www.neednova.com or follow Nova Credit on Twitter, Facebook or LinkedIn.
About First Advantage
First Advantage provides comprehensive background 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 Atlanta, Ga., First Advantage has offices throughout North America, Europe, Asia and the Middle East. More information about First Advantage can be accessed at www.fadv.com.
