Fund More Loans While Reducing Risk.
Fast and accurate verifications lead to more funded loans without increasing risk. Truv’s consumer-permissioned data platform empowers personal and auto lenders with the data they need to approve more loans.
You’ll be in good company
Challenges for personal
and auto lenders today.
Challenges for personal and auto lenders today.
Problem.
-
Lack of Data.
Beyond a traditional credit score, alternative data sources have been challenging to access and verify. -
Manual Processes.
Verifications completed via document processing and phone calls don’t allow for immediate decisions. -
Skyrocketing Costs
Lenders who partner with The Work Number or other instant databases continue to receive price increases.
Negative Outcomes.
-
Increased Risk.
Traditional credit scores do not provide a complete picture, and unqualified loans are approved increasing default rates. -
Missed Lending Opportunities.
Not providing immediate approval decisions causes applicants to accept loans from competitors. -
Decreased Margins.
The average margin on a personal loan is $250, so increasing costs has a large impact on profitability.
Truv’s Value for Personal
and Auto Lenders.
Truv’s Value for Personal and Auto Lenders.
Increased Efficiency.
Replace Manual Processes with Instant Verifications.
One platform with four data sources for verifications.
Decrease time to close by two days, accelerating your loan growth.
Reduce Risk.
Real-Time Data Directly from the Source.
Over 200 unique data points that are proven to increase loan payback and decrease default rates.
Keep the number of unqualified loans to a minimum, but don’t sacrifice speed and volume.
More Funded Loans.
Best-In-Class User Experience to Increase Hit Rate with Truv.
Stronger pull-through rates of applicants to funded loans.
Market-Leading Coverage of 90% of the U.S. Workforce.
Significant Cost Savings.
90% Savings Relative to The Work Number.
Increase Margins: One of our auto lending customers improved their margins with Truv by $100 per funded loan.
One platform with seven unique use cases to drive economies of scale.
How Truv Solves the Problem for
Personal and Auto Lenders.
How Truv Solves the Problem for Personal and Auto Lenders.
-
Reduce Risk: Gather over 200 unique data points to better assess ability and willingness to repay.
Increase Efficiency: Have all of the necessary data to instantly make a loan approval decision, decreasing time to close.
Approve More Loans: Find low credit applicants with high willingness and ability to repay.
Increase Margins: Save up to 90% per verification with Truv compared to The Work Number.
-
Reduce Risk: Receive real-time insurance data that is updated every time there is a change.
Reduce Dropout: Eliminate friction from insurance verification to stop applicants from dropping out of the flow.
Work Efficiently: Decrease time to close by an average of two days.
-
Increase Loan Repayment: Reduce your default rates by receiving loan payment directly from the applicant’s paycheck.
Increase Efficiency: Avoid cycles of tracking down applicants to pay through establishing an automatic, and consistent loan repayment mechanism.
Approve More Loans: Approve loans for lower credit score applicants by recognizing that repayment will come directly from their paycheck.
Why Partner with Truv.
Change the way you access
data to make more informed
decisions through a streamlined
verification process.
Change the way you access data to make more informed decisions through a streamlined verification process.
Jeff Austin
Chief Financial Officer
“As an entrepreneur myself, I appreciate
that Truv takes my feedback seriously
and works quickly to improve the
product.”
“As an entrepreneur myself, I appreciate that Truv takes my feedback seriously and works quickly to improve the product.”
Ready to
Get Started?
Ready to Get Started?
Talk to our team about driving growth for your organization or access the developer portal today.
