FormFree
FormFree is a financial technology company that enhances financial inclusivity and transparency in lending through products like Passport®, RIKI™, and FFX®, and has been recognized for its impact in mortgage technology.
Services
FormFree offers a suite of products designed to enhance financial inclusivity and transparency in the lending process. Their services include Passport®, RIKI™, and FFX®. Each product focuses on different aspects of the lending ecosystem, from assessing a borrower's financial capability to facilitating connections between lenders and borrowers. The company's offerings aim to democratize access to credit and improve the overall lending experience.
Products
FormFree's products include Passport®, RIKI™, and FFX®. Passport® allows users to determine their borrowing power before applying for loans, aiming to democratize lending. RIKI™ assesses a borrower's Ability to Pay, focusing on enhancing credit inclusivity, particularly for individuals without traditional credit scores. FFX® is a marketplace that connects lenders and borrowers for various types of loans, streamlining the lending process and increasing accessibility.
Technology and Data Security
FormFree employs advanced encryption standards such as AES CBC to ensure data security and protect user information. Their technology also includes a universal connect widget in Passport Wallet, which facilitates improved asset validation across multiple financial institutions. Furthermore, the integration of VantageScore in the Passport Wallet enhances credit accessibility by replacing traditional FICO scores, thereby providing a more comprehensive view of a borrower’s financial capacity.
Industry Recognition
FormFree has been recognized for its significant impact on mortgage technology, evidenced by its 10th appearance on the HousingWire Tech100 list. This acknowledgment highlights the company’s contributions to improving financial inclusivity and transparency within the lending industry.