By taking just a few minutes to use DATATrue upfront and verify potential customers' personal information before renting to them, users weed out the rotten apples before they skip and become charge-offs.

Gene Sacco, President, DATATrue - See video interview

When your front wheel drive SUV is out of alignment, the vehicle is dangerously hard to control, and if you're not careful it may eventually run off the road and crash. According to Dan Jobrack, Executive Vice President of Sales for TRIB and Nationwide Rent Direct approved vendor DATATrue LLC., the same is true for your Rent to Own and Payday Loan business - if you're not verifying customer application information on the front end, your back-end collections inevitably get out of control…costing you thousands of dollars annually. Any mechanic can fix your SUV with a simple $99 re-alignment, but the in-expensive solution to controlling your bottom-line is DATATrue.

"It's a simple fact that 1-4 out of every 100 potential RTO or Payday Loan customers purposely provide you false formation with the intention of ripping you off." says Jobrack, and he warns that the number will only increase dramatically as the economy worsens. DATATrue customers, according to Jobrack, have recognized that fact and are doing something about it.

DATATrue's personal information and banking verification service reduces upfront the majority of risk associated with the customer application and approval process. Jobrack explains that unlike other identity verification tools, DATATrue is not a back-end skip tracing tool – rather it's uniquely used on the front-end to provide store managers with better intelligence to make more educated decisions before renting or loaning to high-risk prospective customers that may default later during the term of the agreement.

"Simply put, by taking just a few minutes to use DATATrue upfront and verify potential customers' personal information before renting to them, users weed out the rotten apples before they skip and become charge-offs," says Jobrack.

He instructs dealers during the company's 40-minute online product demo that, while your customer waits and before any final signatures and handshakes, the DATATrue Basic service spends 10 seconds or less to check real-time public & private records over the internet and instantly verifies the accuracy of a potential rental-purchase customer's:

- Social Security Number
- Name
- Address
- Phone Number
- Date of Birth
- Employer's Address & Phone Number
- Landlord's Address & Phone Number
- Bank Account Routing Verification
- Bank Account Number Verification
- Bank Account Status (Verifies Open & Active and Relationship between the bank and your customer)
- References (Up to 6)

Jobrack emphasizes that DATATrue is not designed to underwrite the decision of who to rent to or not – that decision is left up to the salesperson. According to Jobrack, the system is designed to verify and allow rent-to-own sales staff the opportunity to ask questions to gain more accurate information upfront which will be critical to have if the customer later skips. He gives the examples below:

- If an address provided by a customer doesn't match where a DATATrue inquiry proves (with 95% accuracy) the customer actually lives, and the customer claims that's because he recently moved, Jobrack suggests salespeople congratulate the customer on their recent move but ASK to see a lease agreement or utility bill.
- If a phone number for a reference isn't verifiable because it's a pre-paid cell phone, ASK for a reference with a listed land line.
- If John Q Customer gives a Florida address, but DATATrue lists the social security number as belonging to Mary Sue Baker in Alaska, ASK if maybe the customer simply transposed a digit on the application. It could have been an honest mistake or he could have planned on running away with your TV knowing you'd never find him with a bogus social security number.

DATATrue Basic inquiries cost just 97 cents per transaction (92 cents for Nationwide & TRIB members) with no monthly subscription, no application fees and monthly minimums. Premium personal reference checks cost only 27 cents each (26 cents for Nationwide & TRIB members).

Jobrack claims dealers using DATATrue on all new agreements, reactivations, and upgrades can expect a 25%-30% reduction in back-end charge-offs…there-by adding literally 10's of thousands of dollars to every location's annual bottom line. He does the math below:

Average 80 DATATrue inquiries/month X $1.51 (Basic DATATrue inquiry @ 97 cents and two personal reference checks @ 27 cents ea.) = $121/month or $1452 annually
Average direct skip cost/agreement as published on RTO Online below = $2400

For more information visit www.datatrue.net or a free online demo of DATATrue's identity verification and electronic banking services, call RTO Executive Account Manager, Steve Lenhart at: 662-253-5014 or email steve@datatrue.net.

Source: Submitted by DATATrue