Enhance your Bank Account Opening Experience with Truv
Truv enables you to streamline two aspects of your bank account opening process: verifying a consumer’s identity and allowing your consumers to seamlessly switch their direct deposit distribution.
Trusted by Industry Leaders and Innovators
Online Account Opening Experience
Problem
Collecting, recording, and verifying income and employment data can drain precious time and resources while still not giving you all of the data points that you need to assess credit worthiness of your customers.
Solution
By enabling your users to connect directly to their payroll account, Truv provides you verified identity, income, and employment data points that you need within 60 seconds. This data is delivered in real-time to minimize fraud risk and drive cost savings compared to manual labor.
How Truv Works
User selects their income source through either their employer or payroll provider
User signs in to enable access to their payroll account to another organization
The connection is successfully established and the data is available via API and the Truv dashboard
Truv’s Assistance with Bank Account Opening
Verify Applicant Identity
Confirm that the consumer’s full name, SSN, email, date of birth, and home address match what was provided.
Direct Deposit Switch
Enable your customers to instantly connect to their payroll provider and change their direct deposit distribution, thus driving direct deposit growth by up to 65%.
Verify Account & Routing Number
Verify a customer’s account and routing number to facilitate future payments and account funding.
Best-in Class Coverage
We successfully connect to payroll accounts and employers covering over 85% of working Americans.
96%
coverage of Fortune 1000 companies
50+
supported payroll providers
12,800+
direct employer integrations with 2.3M employers
