How Truv Verifies Income for Self-Employed Individuals
Truv offers a streamlined process for government agencies to verify the income of self-employed individuals. This system minimizes costs and automates verifications through API connections.
Key features include:
- Direct-to-Source Data: Truv receives verified data directly from financial institutions to instantly confirm eligibility.
- Secure Connection: Applicants securely connect their bank accounts using oAuth and non-oAuth connections.
- Extensive Data Reports: Access real-time data reports with customizable history lengths, up to 2 years, at no additional cost.
- High Pull-Through Rates: An optimized applicant experience makes connecting to financial institutions fast and easy, contributing to high connection success rates (55%+).
How it works:
- Find your financial institution: The applicant searches for their bank within the Truv platform.
- Sign in to authenticate: The applicant is redirected to their bank's secure login page (e.g., Chase Bank, Bank of America, Wells Fargo).
- Account connected: After successful authentication, the applicant is directed back to Truv, and their account is securely connected.