FormFree Selects Amazon Web Services (AWS) to Power Consumer Financial Identity Solutions
ATHENS, Georgia, October 18, 2021 (SEND2PRESS NEWSWIRE) – Free Form® today announced that it has selected Amazon Web Services, Inc. (AWS) to power FormFree’s Financial DNA® solutions for the lender market.
FormFree, a pioneer in direct-source digital financial verification, leverages cloud computing technologies to deliver scalable and secure solutions to more than 3,500 lenders and partners across the United States.
FormFree will leverage state-of-the-art AWS technologies such as Amazon Managed Blockchain to create a scalable Hyperledger Fabric network to deliver its Passport® token and vision to trivialize the interests of borrowers and credit providers using non-fungible tokens (NFT) in FormFree Exchange (FFX), a marketplace solution that allows consumers to control their lending interactions. Blockchain maintains the proof of the truth as consumers use FFX to securely and securely share their verified passport token with potential credit providers.
The partnership also strengthens FormFree’s ability to provide financial data to US housing finance agencies by leveraging AWS expertise in the federal government and housing finance sectors.
“FormFree Exchange, powered by AWS, is revolutionizing consumer engagement in the lending process,” said Brian Francis, CTO of FormFree. “Getting a loan is no longer lender-centric. Instead, each consumer’s unique Passport NFT allows them to control who can see their financial information, and lenders can instantly be matched with leads who are not only qualified based on the consumer’s level of interest, but also verified according to the degree of match between the financial profile of the consumer and the offers of the lender.
FormFree® is an industry-leading financial technology company whose revolutionary AccountChek® and Passport® products create a more inclusive credit decision landscape by enabling lenders to understand People’s True Payability (ATP®). Our vision is to leverage source data and data-driven intelligence to usher in a new era of transparent, fair and liquid credit markets. To date, thousands of US lenders and brokers have ordered millions of patented audit reports from FormFree, representing billions of dollars in loan audits. FormFree delights borrowers and lenders with a paperless experience, dramatically reduces origination times, and offers automated analysis and standardized delivery to lenders and investors using a secure ReissueKey®.
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News Source: Free Form