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What are the problems that Bank Income by Truv is designed to solve for lenders?

The three main problems that the solution is designed to solve for lenders are:

  1. Inefficient Interpretation Process: Transaction data is notoriously difficult to interpret, and existing financial account aggregation providers lack the features to help underwriters interpret the data.
  2. Unpredictable Income Streams: Lenders often waste time and effort cleansing data and increase exposure to risk from not having a predictable method to evaluate an applicant's ability to repay a loan.
  3. Missed Growth Opportunities: Without access to the reliable data required to make confident decisions, lenders lose out on otherwise qualified applicants and newer target segments.