For years, new account/client decisions have been based on incomplete information. No longer.  The RIT report is designed to include an applicant’s exact behavior and payment history for the specific product or service applied for.  This vital information not found elsewhere will be updated daily to insure timeliness and accuracy and come from data contributors that see the value of both risk mitigation and protecting their clients from exploitation.  Reports to the apartment industry for example, may include specific payment and behavior history such as the following information:

     • Record of Payments Received as Agreed  
     • Record of Exact Dates and Payment Amounts
     • Noise Violations
     • Parking Violations
     • Pet/Animal Violations
     • No-Smoking Violations
     • Toxic Material Violations
     • Clutter or Waste Violations 
     • Amount of Money Still Owed
     • Amount Sent to Collections
     • Client Left Without Notice, Skip
     • Late Payment Actions
     • Eviction Notices
     • And More…

How Will an RIT Report Help?

          Relevant, timely, accurate and balanced information will reduce business risk. This is particularly true in industries such as the real estate industry where there is never a small transaction, and where new clients/tenants take physical possession of property that in some cases is worth more than their total financial net worth.  With consumer’s permission, RIT will reduce risk by knowing the exact payment and behavior patterns of applicants.

Pricing         

Specific pricing has yet to be determined.  However, data contributors will pay much less than non-contributors, possibly nothing.  To permanently ensure low or no costs to data contributors, corporate-by-laws were amended very early on to include the “RIT $1 profit cap commitment”.  Pricing to a data contributor could be as low as $0, but never more than $1 over costs; see “Corporate-by-laws".