About

Truv provides a platform for accessing consumer-permissioned financial data, which helps financial organizations make informed decisions. Its products include income and employment verification, direct deposit switching, and employment history verification. These tools allow organizations to quickly access a wide range of financial data, reducing the time and costs associated with customer acquisition and verification processes. Truv differentiates itself by offering comprehensive access to all available consumer-permissioned data sources, which is not commonly found in the industry. The goal of Truv is to empower financial organizations to drive growth and minimize risk through efficient data access and management.

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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