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How does Bank Income by Truv connect to applicant accounts securely?

Truv prioritizes security and compliance to ensure a safe and reliable verification process for both the lender and the applicant.

Key Security and Compliance Features:

  • Enterprise-Grade Platform: The Truv platform boasts 99.95% uptime and is built to enterprise-grade security standards.
  • SOC 2 Type II Compliant: Truv is audited and certified as SOC 2 Type II compliant, demonstrating its commitment to managing customer data securely.
  • FCRA Compliant: Truv is noted as "one of the only consumer-permissioned FCRA compliant vendors in the industry." This means all data access is consumer-permissioned and adheres to the Fair Credit Reporting Act.

Connecting to Financial Institutions (FIs):

Truv offers robust connections to 13,000+ financial institutions, achieving connection success rates of 55%+ (with a market-leading integrations rate of 71% oAuth).

  • oAuth Connections: These are the safest and most secure method, where the borrower is redirected to their bank (e.g., Chase Bank, Bank of America) to sign in directly, authenticating the connection before being redirected back to the application.
  • High Pull-Through Rates: The secure and easy connection process ensures borrowers can share asset details in seconds, contributing to high pull-through rates.