At Truv, our mission has always been to help financial institutions make smarter, faster, and fairer decisions through consumer-permissioned data.
Today, we’re thrilled to announce the next evolution of that mission — Truv Bank Income — a groundbreaking solution that enables lenders to verify income directly from bank transactions with the same precision and reliability as payroll data.
The Challenge: Income Verification Beyond Payroll
Until now, income verification has relied heavily on payroll data. But not everyone can (or wants to) connect their employer system.
Bank account data, on the other hand, offers universal coverage — but it’s notoriously messy. Transaction descriptions are cryptic, deduction rates vary widely, and it’s easy to misinterpret net pay as gross income.
This is where Truv changes the game. Truv Bank Income transforms raw transaction data into actionable income insights — without sacrificing accuracy, compliance, or user experience.
Powered by Real Paystub Intelligence
Unlike traditional aggregators that rely on limited training data or self-reported income, Truv’s models are trained on 113 million+ verified pay stubs across 290,000 employers nationwide. This unparalleled dataset allows us to precisely model deduction patterns and gross-up logic — from taxes and insurance to 401(k)s and earned wage access.
The result? A mean absolute error of just $241 per paycheck, or 7.8% versus actual gross income, and an AUC of 0.99 on pay-frequency classification.
Built on Direct Bank Connections
Truv connects directly to 13,000+ financial institutions, covering 98% of U.S. financial accounts with 75% OAuth connections — the highest in the industry.
OAuth security ensures a secure, tokenized, and smooth user experience — no screen scraping, no credentials stored. With this robust network, Truv’s Bank Income converts at 65%+ and delivers verified transaction data that lenders can trust.
Smarter Income Detection, Faster Decisions
Once a user permissions their bank account, Truv’s system:
- Extracts raw transactions
- Identifies recurring income deposits
- Predicts pay frequency (weekly, biweekly, monthly)
- Calculates gross income using over 100+ input features, including employer, location, deposit frequency, and transaction variance
The result: accurate, explainable gross-income estimates that match real payroll values — enabling faster, fairer credit decisions.
A Unified Experience: Choice Connect™ + Smart Routing
Truv Bank Income is built into our Truv Choice Connect™ and Truv Smart Routing experience — a unified verification workflow that brings together Payroll, Bank, and Document Upload sources in a single embeddable widget.
Truv Choice Connect: Allow your borrowers to pick and choose the method to verify income.
Truv Smart Routing: Automatically direct users to the most likely path to success.
Use Cases That Deliver Real Impact
- Expand income verification coverage beyond payroll-only flows
- Compare bank-derived income to stated income for audit and fraud detection
- Leverage cashflow attributes for credit modeling or risk segmentation
- Reduce manual underwriting time with structured, verified transaction data
With Truv Bank Income, you can verify income for millions of Americans who were previously difficult to assess — gig workers, contractors, part-time employees, and more.
Secure, Compliant, and Enterprise-Ready
Truv’s infrastructure is built for scale and trust:
- FCRA-compliant and safe for credit decisioning
- SOC 2 Type II certified
- 99.9% uptime for always-on performance
- Certified data provider for Fannie Mae Day 1 Certainty® (D1C) and Freddie Mac AIM programs
No other verification provider combines this breadth of data, compliance coverage, and accuracy in a single platform.
Truv Bank Income at a Glance
| Metric | Value | Description |
|---|---|---|
| Financial Institution Coverage | 13,000+ | 98% of U.S. accounts supported |
| OAuth Coverage | 75% | Secure, tokenized connections |
| Verified Payroll Dataset | 113M+ pay stubs | Model training foundation |
| Gross-Up Model Error | $241 / 7.8% | Validated against payroll data |
| Connection Success Rate | 65–75% | Across Bank & Choice Connect |
| Pay-Frequency Model AUC | AUC 0.99 | Class-leading precision |
The Truv Difference
1. Direct-to-Source Bank Connections
Truv connects to 98% of U.S. financial accounts, leveraging 75% OAuth integrations for secure and seamless consumer experiences With 13,000+ financial institution connections, users can permission access in seconds — reducing friction and increasing verified data pull-through rates above 55%.
2. Real Income Intelligence, Not Guesswork
Unlike traditional aggregators that rely on surface-level transaction parsing, Truv uses its rich payroll-verified dataset (290,000+ companies) to model real-world deduction rates and gross-up logic.
- Average deduction rate: 27%, varying widely from 7–80% across employers.
- Machine learning models trained on 20M+ transactions and 50,000+ employer profiles produce gross-income estimates with a mean absolute error of only $241 (7.8%) per paycheck — verified against true payroll data
3. Smarter Income Classification
Truv’s algorithms classify recurring income with AUC = 0.99 for pay-frequency detection and categorize 11+ income types — including payroll, gig, benefits, retirement, rental, EWA, and P2P income sources. Each deposit is analyzed for recurrence, employer match, and consistency before being included in gross-up estimates.
4. Embedded Experience with Truv ChoiceConnect or Truv Smart Routing
Bank Income is built into Truv Choice Connect™, Truv’s unified verification product that unites Payroll, Bank, and Document Upload under one UX or Truv Smart Routing™, Truv’s customizable verification waterfall that directs users to the most likely path to success.
- Pick your preferred product for your users
- Customize the order of verification (e.g., Bank → Payroll → Docs)
- Typical verification conversion rate: 65–75% (income detected across all sources)
5. Plug-and-Play Integration
Truv Bank Income can be deployed as:
- A standalone API for transaction-based income analysis
- Or as part of a unified VOIE waterfall alongside Truv Payroll and Document Parsing
All sources return data in the same JSON schema, making Bank Income integration a light lift — often no backend changes required.
By combining direct connections, verified payroll intelligence, and machine learning, Truv Bank Income finally makes bank data practical for income verification — accurate enough for underwriting, fast enough for digital lending, and flexible enough for your tech stack.
Start Verifying Smarter Today
Truv Bank Income is available today for all existing Truv customers.
If you’re already using Truv Payroll, enabling Bank Income takes just a few configuration toggles — same schema, same API, broader coverage.
