ConnectID first in Australia to bring digital ID to real estate industry
ConnectID, an initiative of Australian Payments Plus (AP+), has announced that RentBetter, a self-service property management platform, has joined ConnectID’s expanding ecosystem of relying parties, in an Australia-first move providing greater information privacy, security, and control to agents and tenants.
The cutting-edge digital identity solution uses existing trusted sources, such as a person’s bank, to verify their identity. Verification is completed in real-time through a secure data exchange without the need for ConnectID to see or store the data.
Jeremy Goldschmidt, CEO of RentBetter said, “As an industry, real estate and property management hasn’t seen much change over the past 50 years, especially regarding data and information privacy. There’s an enormous amount of personal information that is shared, creating unnecessary risk, but also unnecessary friction in the rental experience felt by everyone across the sector.”
Goldschmidt went on to say, “That’s why we’re so excited to be integrating with ConnectID. We’re in a time when Australian residents are being hit by a rental crisis, there have been numerous data breaches at large public companies, and consumers are generally quite alert to the risks of identity fraud. The technology means we’re able to verify identity, but also reduce the duplication of sensitive information and consequently associated risk, all the while creating a stronger trusted experience for landlords and tenants.”
Using a secure digital ID offers greater peace of mind by improving visibility into the information being shared and builds confidence that personal data remains secure. Overall, it’s reducing the complexity and growing costs of managing, storing, and securing personal customer information.
“The oversharing of sensitive data during the rental process is all too common, but storing and securing personal data can be costly, particularly for smaller agencies, and in the event of a breach, devastating,” said Andrew Black, Managing Director of ConnectID at AP+.
Black continued, “That’s why Digital ID is so exciting for the industry, not only can we start addressing these growing privacy and security challenges, it can be done in a way that helps raise tenant trust but also be a solution that businesses of any size can adopt.”
ConnectID continues to expand its digital identity ecosystem across a range of industries and organisations, now including real estate. It gives companies and consumers peace of mind when it comes to verifying identity online, and reduces the need for businesses to manually collect, store or validate sensitive documents.
