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
The COVID-19 pandemic has accelerated digital transformation for financial institutions, which has caused a majority of financial institutions to invest in their online account opening experience. However, consumers are still hesitant to switch their primary financial institution relationship because of how difficult switching their accounts can be.
Truv enables your customers to instantly connect to their payroll provider and change their deposit distribution, which increases your direct deposits by up to 65%. Through this process, Truv also verifies the identity of the consumer to assist with KYC.
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.
coverage of Fortune 1000 companies
supported payroll providers
direct employer integrations with 2.3M employers
Truv is Enterprise-Ready and FCRA Compliant
Provide a Best-In-Class Account Opening Experience with Truv
Let’s partner together to accomplish your business objectives