Renovo Financial

Introduction

Renovo Financial is a rapidly-growing private lender serving real estate investors who renovate single and multi-family residential properties. To make loans to financially responsible people, it’s important for Renovo to conduct background screening on applicants. Renovo was looking for an efficient screening provider who could integrate with their new Salesforce.com platform. Verified First was the perfect partner for their needs.

The Problem

Renovo’s previous provider was unable to provide integrated services for background screenings in Salesforce.com. Without an integrated solution, hours of administrative time would be required to manually complete the vetting process.

Renovo considered other screening companies who integrated their services with Salesforce. When evaluating their options, they needed a provider who could provide the following key features:

  • An adequate level of customization.
  • A native Salesforce.com app that was easy to integrate.
  • An implementation team and onboarding support.

To accomplish their goals, Renovo chose Verified First.

The Solution

Verified First added value in the following ways:

  • Superior onboarding and customized solutions. Unlike many competitors, Verified First was able to work closely with Renovo during the onboarding process. They assessed Renovo’s workflow and set up a customized screening program.
  • Salesforce.com App Streamlined integration process and ease of use. Verified First delivered their app through the Salesforce.com AppExchange which resulted in an efficient delivery to meet their workflow needs. Screening requests are made directly through Salesforce, with no paperwork and a reduced possibility of user error.​
  • Automated screening workflow. To streamline loan applications, Verified First provides adjudication based on Renovo’s requirements. Receiving a hit on an applicant stops the loan process automatically. This saves time and reduces liability for the company.

The Results

After implementing these solutions, Renovo has seen substantial improvements to their operating procedure: 

  • Improved efficiencies from Salesforce integration. Background checks are completed within Salesforce as part of a streamlined workflow. Adjudication also ensures loan applicants are thoroughly screened, without requiring significant oversight.
  • Reduced workload. Because Verified First’s solutions eliminates paperwork and provides an electronic chain of custody process, it reduces administrative time. As they continue to process more loan applications, the time saved will increase.  
  • Improved compliance with loan requirements. Background checks are a critical part of ensuring the integrity and financial health of applicants. Through Verified First’s integration, a loan cannot be completed without successfully passing a background check. Because background screening will never be overlooked, it creates peace of mind and reduced liability for Renovo. 

As the second fastest-growing company in Chicago, Renovo Financial needed a solution that would allow them to better serve their clients — that’s why they chose Verified First. 

Remi Gangarossa, Executive Vice President of Operations, said, “Background screening is a critical part of our due diligence with loan applicants. We needed a customized solution that would smoothly integrate with our Salesforce workflow and Verified First exceeded our expectations.”

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