Experian expands verification solutions with consumer permissioned payroll data from Truv

In a move that will empower consumers while enabling lenders to seamlessly verify the income and employment status of more borrowers, Experian introduced new verification capabilities that can connect lenders to consumer permissioned payroll accounts. By leveraging technology from Truv, Experian is bolstering its existing suite of digital verification solutions to provide lenders with access to permissioned payroll records from more than 50 of the top payroll providers across the United States.

Experian’s new partnership with Truv allows consumers to quickly permission access to their payroll accounts when applying for a loan, mortgage or employment by authorizing use of their payroll provider login credentials. Using this consumer-permissioned data, Experian will deliver a verified income and employment report back to the lender or verifier.

Adding consumer permissioned access to payroll data to Experian’s Verification of Income and Employment suite of services is the next step in Experian’s long-term commitment to expanding its consumer permissioned verification capabilities.

“Experian understands that investing in Truv’s consumer permissioned data platform can improve their customer’s experience,” said Kirill Klokov, Truv’s Co-Founder & CEO. “In partnership with Experian, we can help millions of consumers unlock their data to verify their income and employment status, enabling quicker mortgage and loan approvals often with better rates. Together, we can help consumers take control of their data and bring more transparency into the process.”