How Two Dots Make Underwriting Easy and Secure
The United States is the largest tech market in the world, representing 32% of the total, or approximately $1.7 trillion for 2020. The tech sector accounts for a significant portion of economic activity in the country. CompTIA's Cyberstates report reveals that the economic impact of the U.S. tech sector, measured as a GDP percentage, exceeds that of most other industries, including retail, construction, and transportation.
This priority in technology makes lives easier for Americans and has produced helpful tools to improve business processes. One example of such a tool is Two Dots.
What is Two Dots for?
Two Dots is a fairer gateway to credit and housing markets. It's takes out the long process of providing the underwriter with many documents as evidence that you can afford a product.
The company is based in New York, United States, and its partners include Y combinator, Pomegranate, Garmoosh, and Velo City.
Henson Orser is the CEO and co-founder of the company. He started his career at Goldman in NYC. And after nearly 4 years, he jumped to the startup world as the 4th employee at Findigs (B2B proptech), where he had a front-row seat to how unoptimized consumer underwriting is.
Alongside him is Max Ponte, the CTO and co-founder. Max started his career as one of the first engineers on the income verification team at Blend. He spent years working on this problem in the mortgage industry before making the jump to work on search at Google. After experiencing the excitement of being early at a rapidly scaling startup and the mega-scale of search at Google, he decided to tackle the gigantic problem of payroll data.
Check out 9 Biggest Payroll Challenges in 2022 to learn more.
Two Dots' Mission
The company's mission is to make all consumer underwriting fairer by enabling seamless payroll data access between companies and consumers.
Two Dots manage income verification in a very efficient way. A customer who wants to borrow money doesn't have to get into the hassle of looking for documents. It has a fully automated process in which qualified applicants applying for loans have their income approved instantly. Within split seconds, business owners can convert the prospects to tenants ,
The company also integrates two or more systems for a more streamlined business process. It assures coherent transfer between systems and offers advanced fraud protection for customers and business owners. Two Dots also saves time for financial institutions so they can make faster and smarter underwriting decisions within minutes.