About

Truv provides a platform that allows financial organizations to access consumer-permissioned data, which includes income and employment verification, direct deposit switching, and employment history verification. The platform works by integrating various data sources, enabling organizations to make informed decisions while reducing risks and costs associated with customer acquisition and verification processes. What sets Truv apart from its competitors is its comprehensive access to all available consumer-permissioned financial data sources, which allows for quicker launches and a more efficient workflow. The goal of Truv is to empower financial organizations to operate more confidently and effectively by streamlining their access to essential data.

Simplify's Take

What believers are saying

• Truv's partnerships streamline mortgage processes, reducing costs by 60-80% for lenders.
• The platform supports 95% of the U.S. workforce, enhancing verification accuracy and speed.
• Truv's integration with Fannie Mae's DU service offers lenders Day 1 Certainty.

What critics are saying

• Increased competition from Plaid and Finicity threatens Truv's market share.
• Data privacy concerns could arise due to handling sensitive financial information.
• Economic downturns may reduce demand for mortgage-related verification services.

What makes Truv unique

• Truv offers unmatched coverage with access to every consumer-permissioned financial data source.
• Truv's platform integrates seamlessly with leading mortgage POS systems like Lodasoft and BeSmartee.
• Truv provides a rich developer experience, enabling quick launches for financial organizations.

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