OpenRoad Lending is an online direct-to-consumer automotive refinancing company that handles a large number of applications for refinancing. The automotive refinancing industry is a growing space, where consumers are realizing that there are options to refinance and get a lower interest rate for car payments. OpenRoad Lending is positioned to continue to lead in the space, but looked for a new solution to help streamline employment and income verification, and chose Truv as an integrated solution.
With Truv’s focus on enterprise financial firms, lenders, and employment screeners, Truv has quickly established a strong product-market fit. OpenLending is able to speed up the approval process with Truv integrated into OpenLending’s proprietary software.
“Truv has become our secret weapon, one of those that you want the competition not to know about,” said Jeff Austin, CFO, OpenRoad Lending. “Truv has helped us speed up and automate employment and income verification, which also speeds up the loan process, saving both OpenLending and our customers time and money.”
Added Austin, “throughout the process, Truv has been a great partner. When we had suggestions and requests, Truv was able to quickly respond and personalize the system for our employees.”
“At Truv, we emphasize doing what is right for our customers,” said Kirill Klokov, CEO of Truv. “The product makes the verification of consumer income and employment status a time-saving process so OpenRoad Lending can help more people,” said Kirill Klokov, CEO of Truv. “OpenRoad Lending cares about its customers, saving them on average about $100 per month, and using Truv has sped up that process and money-saving for its customers.”
Truv has launched integrations with 48 payroll providers, covering 120 million people and 85 percent of the US workforce helping organizations with VOIE (verification of income and employment) to speed up approval processes.
First appeared on Business Wire.