FormFree To Leverage Amazon Managed Blockchain To Create FormFree Exchange
FormFree has selected Amazon Web Services, Inc. (AWS) to power FormFree’s consumer 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 over 3,500 lenders and partners throughout the United States.
FormFree will leverage leading AWS technologies such as Amazon Managed Blockchain to create a scalable Hyperledger Fabric network to deliver its Passport® Token and vision of commoditizing borrowers’ and credit providers’ interests using non-fungible tokens (NFTs) in the FormFree Exchange (FFX), a marketplace solution that puts consumers in control of their lending interactions. Blockchain maintains the proof of truth as consumers use FFX to safely and securely share their verified Passport Token with prospective credit providers.
The partnership also strengthens FormFree’s ability to deliver financial data to U.S. housing finance agencies by leveraging AWS’s expertise in the federal government and housing finance sectors.
“The FormFree Exchange, powered by AWS, revolutionizes consumers’ participation in the lending process,” said FormFree Chief Technology Officer Brian Francis. “No longer is getting a loan centered on the lender. Instead, each consumer’s unique Passport NFT puts them in control of who can see their financial information, and lenders can instantly get matched with leads that are not only qualified based on the consumer’s level of interest but also verified based on the degree of fit between the consumer’s financial profile and the lender’s offerings.”
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