Truv for Financial Institutions
Truv provides financial institutions with the safest and most reliable API connections to payroll accounts, enabling income & employment verification, direct deposit switching, paycheck-linked loans, earned wage access, and more.
Trusted by Industry Leaders and Innovators
Empowering Digital Transformation
With M&A rapidly increasing and consumers being more likely to switch bank accounts, financial institutions are forced to fiercely compete both with fintech organizations and each other. To be able to win in the current market, it’s key that financial institutions understand the importance of innovating in digital channels.
Truv empowers you to innovate faster with access to consumer-permissioned data, specifically income and employment data that resides in payroll systems. Quickly verify income, employment, switch consumers’ direct deposit distribution, and other impactful use cases.
How Truv Works
User selects their income source through either their employer or payroll provider
User signs in to enable access to their payroll account to another organization
The connection is successfully established and the data is available via API and the Truv dashboard
How the Top Financial Institutions are Using Truv Today
Direct Deposit Switch
Enable your consumers to instantly connect to their payroll provider and change their deposit distribution instantly, thus driving your direct deposit growth by up to 65%.
Verify Applicant Income
To supplement a traditional credit score, verify an applicant’s income to assist with alternative credit scoring decisions.
Verify Account & Routing Number
Verify a consumer’s account and routing number to facilitate automatic payments directly from their bank account.
Verify Applicant Identity
Confirm that the applicant’s full name, SSN, email, date of birth, and home address match what was provided.
Incentivize applicants to pay their monthly loan balance directly from their paycheck, thus significantly reducing your amount of assumed risk.
Earned Wage Access
Empower your customers to take control of their finances through on-demand access to earned, but unpaid, wages regardless of the pay cycle.
Access Employment History Data
View job title, company name, start date, and end date for multiple jobs stored within a single payroll provider.
To assist customers who are unable to connect to their payroll provider, Truv enables you to verify income and employment by uploading paystubs and W2 documents through our AI and machine learning algorithms.
Best-in Class Coverage
We successfully connect to payroll accounts and employers covering over 85% of working Americans.
coverage of Fortune 1000 companies
supported payroll providers
direct employer integrations with 2.3M employers
Truv is Enterprise-Ready and FCRA Compliant
See Why the Top Financial Institutions Partner with Truv
Let’s partner together to accomplish your business objectives