FormFree Announces Enhancements for Customer Acquisition on October 25, 2024

In Athens, Georgia, on October 25, 2024, FormFree, a financial technology leader since 2007, announced significant upgrades to its customer acquisition platform, FormFree Exchange (FFX). The updates feature an auto-matching capability that connects borrowers and lenders quickly while maintaining consumer data privacy and ensuring compliance with relevant regulations. This enhancement addresses the needs of lenders who will have to adapt to the upcoming TCPA 1-to-1 consent rule, which is set to take effect shortly. The platform allows borrowers to control their personal information during the connection process, which ensures unbiased lending decisions based solely on financial data. FormFree's Passport application enables users to share essential financial details with lenders seamlessly, generating a financial identity report that includes a Residual Income Knowledge Index (RIKI). This process helps lenders identify qualified borrowers more effectively. A recent participant in the program, MOR Lending, has reported positive outcomes from using FFX, including a notable lead-to-application conversion rate. The organization's leadership praises the technology for its potential to serve underserved and credit-invisible populations who are capable of repaying loans. By implementing these new features, FormFree aims to enhance the lending experience for both borrowers and lenders, fostering a more inclusive financial environment. As regulatory changes loom, innovations like FFX ensure that lenders remain competitive and capable of sustaining their operations in a dynamic market.