Innovation drives everything we do at Truv. We’re laser-focused on delivering enhancements that streamline workflows, reduce friction, and empower our clients to deliver exceptional experiences. Recently, we rolled out VOA in Encompass, hosted webinars with industry leaders, and released a range of product enhancements across our platform to drive conversion. Check out our latest product developments from June!
Truv Product Updates
Verification of Assets Announcements
Truv is an authorized asset verification report supplier for mortgage lenders using Fannie Mae’s Desktop Underwriter® (DU®) validation service and an approved report provider supporting Freddie Mac’s Loan Product Advisor®(LPA®) asset and income modeler (AIM).
Truv Platform Updates
Encompass
To maximize the verification of assets experience for your loan officers in Encompass, Truv released a number of enhancements.
- Pre-Fill Financial Institutions for VOA Orders: Financial institutions added in the loan application automatically import into the ‘New order’ tab in Encompass, allowing loan officers/order managers to manage and select up to 5 FIs per borrower.
- Generate New VOA & DVOE Reports: To give granular control over the information included in a Truv report, loan officers/order managers now have the ability to customize included accounts and number of account history days that should be included in the new VOA or DVOE report. This action becomes available once an initial order is completed by the borrower.
- Added Pending Transactions to VOA & DVOE Reports: To improve visibility into fund flows, pending transactions are now shown in the VOA and DVOE reports, with a ‘pending’ label under the date.
- ‘No Data’ Disclaimers in VOA & DVOE Reports: To streamline the VOA & DVOE report review process for loan officer/order managers, disclaimers have been added to key sections of the reports flag any gaps in requested information:
- VOA Report disclaimers: Large deposits, account owner information, transactions, account numbers
- DVOE Report disclaimers: Account owner information, transactions
If you have VOA enabled in Encompass, create an order by selecting ‘Verification of Assets’ from the Product type dropdown menu in the ‘New Order’ tab. If you do not have VOA enabled, reach out to your customer success manager to get started.
Truv Dashboard & Order Updates
Truv Dashboard improvements have been released to support large clients by streamlining team member signup, aligning ‘end-user’ terminology, and adding an order source filter in reporting and orders
- Billing Tab: Last month, Truv launched a new ‘Billing’ tab in Truv Dashboard for visibility into: Subscription selection for individual users, invoices, credits, usage, and monthly reports to give more insight into billing details. Note that ‘Usage’ in the Home tab has been updated to Monthly report.
- Self-Service Subscription Sign-Up: For prospective clients who want to begin using Truv immediately, we have launched a self-service flow. Enter company and payment details, select a subscription tier, receive production keys, then access Truv Dashboard to get started.
- Expanded Column Customization to All Dashboard Tables: Following last month’s release, we’ve updated the Tasks, Teams, Templates, Logs, Web hooks, Invoices, and Usage tables in Dashboard, allowing customizable column display, column order, column width, and the ability to export results as a CSV file.
- Multi-Tenancy Support Feature Improvements: For clients with multiple companies in Truv Dashboard, now, team members receive automatic invite emails when added to additional companies, accessing each with one login. We’ve added a multi-tenancy tile to other Truv Dashboard pages and added horizontal scaling so the full tenant name is visible.
Truv Bridge Updates
With user experience top of mind, we release platform-specific SDKs to provide the optimized native experience proven to drive higher conversion rates.
- Enhanced SDK Stability: We’ve released updated versions of our Android (v1.9.0), iOS (v1.6.0), Flutter (v1.2.0), and React Native (v4.1.0) SDKs with improved login flows and enhanced stability, providing developers with a more reliable integration experience across all platforms.
Conversion Improvements
Truv’s extensive monitoring framework continuously evaluates our network of payroll providers, employers and financial institutions, identifying and eliminating friction points that could slow down data retrieval and parsing. Review recent conversion improvements:
Verification of Income & Employment
| Company | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| SSA | 36.9% | 46.36% | +9.47% |
| UPS | 67.7% | 74.26% | +6.56% |
Verification of Assets
| Financial Institution | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| Fidelity | 80% | 96.43% | +16.43% |
| Bank of America | 83.51% | 88.8% | +5.29% |
Direct Deposit Switch
| Company | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| USPS | 41.61% | 46.7% | +5.09% |
| Target | 72.73% | 76.97% | +4.24% |
Upcoming Events
Check out Truv’s on-demand event recordings and see where we’ll be next!
Customers Come First
Our commitment to partnership goes beyond just delivering features—it’s about building solutions that actually move the needle for your business. Every enhancement in this month’s release stems from real conversations with our clients. We’re energized by the collaborative spirit and excited to keep pushing together. Please continue sharing feedback!
