Choosing a Payroll API Provider Guide.
Grow Deposits and Cultivate Engaged Customers.
The lowest friction channel to switch direct deposit distribution. Acquire more customers and accelerate deposit growth.
You’ll be in good company
Automate Direct
Deposit Switching.
Automate Direct Deposit Switching.
-
Sticky Relationships.
Consumers have the same primary checking account for an average of 16 years. -
High Friction.
Switching a financial relationship has a lot of friction. -
High Intent to Switch.
32% of consumers indicated that they are very likely to switch their checking relationship in the next year.
-
Low Friction.
Automating direct deposit switching in an average of 45 seconds. -
Deposit Growth.
Direct deposit growth of up to 65%. -
Competitive Intel.
Providing competitive insights on prior and current direct deposit distributions.
Direct Deposit Growth.
Drive direct deposit growth of up to 65% by reducing the friction from the switching experience.
Marketing Segmentation.
Understand which customers have all, a portion, and none of their direct deposit going to your institution to empower you to improve your marketing strategies.
Competitive Insights.
Understand where your customers’ previous direct deposit was distributed to allow you to derive insights from where you’re stealing market share from.
Increase Efficiency.
Reduce manual forms that drive greater call center volume for your staff. Empower in person branch staff to automate direct deposit switching through Truv.
How Direct Deposit
Switching with Truv Works.
How Direct Deposit Switching with Truv Works.
-
Employer.
-
Payroll.
-
Credential-less.
-
Form. (Coming Soon)
Why Partner with Truv.
Why Partner with Truv.
Unmatched Coverage.
- 90% Coverage for Automated Direct Deposit Switching.
- Manual Form to Achieve 100%.
- 12,800 Integrations and 2.3M employers in Truv’s database.
95% API Integrations.
- Integrations that aren’t blocked by payroll providers.
- Login speeds of five seconds or less.
- The highest security of credentials.
- Remain continuous access to the customer’s payroll account for other use cases.
Highest End-to-End Conversion Rates.
- Integrations with the top 43 single-sign on providers.
- 195k employers mapped to payroll providers.
Flexible Integration Options.
- In Branch: No code implementation option that allows branch team members to send a text message and/or email to the customer to switch their direct deposit.
- API Call: Ping an API when a new account is opened to automatically send the new customer a text message and/or email to the customer to switch their direct deposit.
- Online & Mobile Banking: Fully integrated at all times with online and mobile banking.
Competitive Insights.
- The highest fill rates on competitive insights received after a direct deposit switch is successful.
- Understand where your customers’ prior direct deposit was going and where their current direct deposit is going.
Go Live Immediately with Platform Integrations.
- Jack Henry Banno
- Alkami
- Constellation
- More Coming Soon…
Unmatched Coverage.
- 90% Coverage for Automated Direct Deposit Switching.
- Manual Form to Achieve 100%.
- 12,800 Integrations and 2.3M employers in Truv’s database.
95% API Integrations.
- Integrations that aren’t blocked by payroll providers.
- Login speeds of five seconds or less.
- The highest security of credentials.
- Remain continuous access to the customer’s payroll account for other use cases.
Highest End-to-End Conversion Rates.
- Integrations with the top 43 single-sign on providers.
- 195k employers mapped to payroll providers.
Flexible Integration Options.
- In Branch: No code implementation required. A text message and/or an email is sent by a branch member.
- API Call: Ping an API when a new account is opened with a text message and/or an email.
- Online & Mobile Banking: Fully integrated at all times with online and mobile banking.
Competitive Insights.
- The highest fill rates on competitive insights received after a direct deposit switch is successful.
- Understand where your customers’ prior direct deposit was going and where their current direct deposit is going.
Go Live Immediately with Platform Integrations.
- Jack Henry Banno
- Alkami
- Constellation
- More Coming Soon…
Why Partner with Truv.
Change the way your
customers switch direct deposit
distribution to drive growth.
Change the way your customers switch direct deposit distribution to drive growth.
Strongest Authentication Experience
95%
of integrations are API-based rather than screen scraping
Amber Buker
Co-Founder & CEO at Totem
“From the moment I was introduced to
the team at Truv, their passion was
apparent. From a technical perspective,
the number of employer mappings Truv
has is significantly larger than that of
their competitors.”
“We chose Truv, it was their team’s dedication to hands-on, personal service that ultimately won us over. We’re confident that we’ll be able to grow with Truv for years to come.”
Resources for Direct
Deposit Switching.
Resources for Direct Deposit Switching
Related Use Cases.
Income and Employment Verification.
Verify income and employment details for 90% of the U.S. workforce with 4+ data sources reducing risk, fraud, and verification costs.
Paycheck-Linked Loans.
Create a winning partnership between you and your customer by setting up recurring payments directly from their paycheck.
Insurance Verification.
Quickly verify the status of a consumer’s auto or home insurance policy to further automate the loan approval and onboarding process.
Ready to
Get Started?
Ready to Get Started?
Talk to our team about driving growth for your organization or access the developer portal today.
