The Truv team closed out 2024 with the release of transformative enhancements to our open finance platform. Our year-end product releases have been built to deliver significant improvements to client workflows and the end-user experience, with a focus on our Truv Dashboard. Explore the latest developments at Truv!

Truv Platform Updates

Truv Is Now Available in Lodasoft 

In November, we announced our integration with leading point-of-sale, Lodasoft. For lenders seeking to leverage Truv’s income and employment verification solution within the loan application, we’ve released an updated guide on how to enable Truv within the platform, now available in Truv Docs.

Empower Improvements

If you leverage Truv verifications through Empower, we’ve made enhancements to improve the go-live experience that will enable faster verifications.

  • Empower Party ID Configuration Page: Once a lender receives their Client Implementation Guide (CIG) from the Empower Implementation Team to begin testing, we’ve added a new Empower page in Truv Dashboard: Development → Platform Keys to simplify ID configuration. Up to 5 Empower Party IDs can be added for Truv Sandbox and Production environment, ensuring orders in Empower are linked to your Truv account.
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Truv Dashboard & Order Updates

  • Order-Level Status Update Emails: Status update emails for orders have been improved. Instead of sending separate emails for each employer when a suborder reaches a terminal status (Completed, Expired, Canceled, Skipped, User, or No Data), Truv now sends one consolidated update. This includes status information for all parts of the order, including those still in progress (Pending, Sent, or Skipped), showing: company/provider, last attempt results, attempt counts, and timestamps. This gives Order Managers better visibility on order progress and information to guide users toward completion or alternative verification paths.
  • Detailed ‘Connections’ Section Added to Orders Tab: To increase transparency on order progress and connection attempts, we have added a ‘Connections’ section to Orders tab in Truv Dashboard: Click a row → Navigate to the Connections section. The new section shows login attempt details, grouped by company or provider, providing Dashboard users with more insight, including: company or provider, latest attempt result, updated at, tracking info, link is suspicious flag and a link to the corresponding tasks.
    • Connection-Level “Link is Suspicious” Field: The ‘Link is suspicious’ field was moved from Order details to ‘Connections’, showing SSN mismatches for each employer or provider, improving connection-level visibility.
    • SSN Mismatch Indicator: To identify fraud or suspicious activity, a red ‘Mismatch’ indicator has been added next to the SSN field in Order details. If any connection has ‘Link is suspicious: Yes’, we will display the red ‘Mismatch’ indicator. For Direct Deposit Switch (DDS) and Paycheck Linked Loans (PLL) products, this is blocking issue which will prevent a switch from happening.
  • Employer and Provider info for DDS and PLL: In Truv Dashboard and Truv Reports, the employer and payroll provider details are now returned in addition to the details on connected banks and accounts. Additionally, in the ‘Retrieve a direct deposit switch report for a link’ endpoint, Truv returns employer and payroll provider information.

Truv Bridge Updates

Introducing Truv SmartRouting

Truv SmartRouting has launched for consumer lenders, auto lenders, and tenant screeners. This is a game-changing innovation that combines data sources, payroll providers and bank accounts, into a seamless, conversion-optimized flow. The most efficient verification path automatically populates once an employer is selected, based on our extensive historical data analysis and prior conversion. When bank aggregation is the preferred path, consumers connect their financial institution(s), sharing income and employment data from their bank account(s). 

  • “Already Connected” User Experience: When a borrower or consumer re-opens their Truv order and enters the Truv Bridge experience they can now refresh their connection. If a refresh is not available, a new screen has been added notifying them that their account has already been successfully connected and no further action is needed. This experience has been made available for Income and Employment Verification (VOIE), Direct Deposit Switch (DDS) and Paycheck Linked Loans (PLL).
  • Customizable Manual DDS Form: Truv’s direct deposit switch solution supports a fallback method to payroll, displaying an HR form for a consumer to email, download and/or share within the Bridge. Now, customers have the option to disable Truv’s HR form and display their own when a consumer opts to complete a manual form within the Bridge.
  • New Sandbox Testing Credentials: In Truv’s Testing Docs, we’ve added two new sandbox credentials for multi-factor authentication (MFA) login flows, including: 1. Captcha questions 2. Any selected MFA method. 

Conversion Improvements

We measure our client success through conversion performance. Our team continuously monitors integrations with employers and payroll providers to maintain connections at optimal speed as well as efficient data parsing. Here’s a summary of recent conversion enhancements across our product suite:

Verification of Income & Employment

  • Delta Air Lines: +7.41% improvement over the last 30 days
  • Uber: +5.95% improvement over the last 30 days

Verification of Assets

  • Wells Fargo: +13.89% improvement over the last 30 days
  • Bank of America: +10% improvement over the last 30 days

Direct Deposit Switch

  • Amazon: +18.77% improvement over the last 30 days
  • Walgreens: +6.68% improvement over the last 30 days

Upcoming Events

Dive into our library of on-demand event recordings or stay ahead of the curve by registering for upcoming events this month:

  • NADA Show (National Auto Dealers Association): The Truv team is heading to the  NADA Show from January 24–26! We’d love to meet with you to discuss how our verification solutions are streaming financing processes for dealerships and lenders.
  • Independent Mortgage Bankers Conference: Truv is heading to Austin, Texas for the Independent Mortgage Bankers Conference from January 27-30. Our team will be on-site to showcase our platform. Connect with us in person!

Customers Come First

As we head into the new year, we’re taking our partnership-centric approach to our client relationships with us as a leading force. We’re looking forward to gathering more user insights and translating them into targeted product enhancements, ensuring our consumer-permissioned data solutions deliver maximum value and efficiency.