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What is Bank Income by Truv?

Bank Income by Truv is a solution that uses direct-to-source bank account data to provide real-time interpretation of an applicant's transaction history. It is designed to mitigate fraud and accurately verify income, helping lenders make confident underwriting decisions faster.

Key Features and Benefits:

  • Real-time Data Interpretation: Truv cleanses and standardizes cryptic transaction data into ready-to-use information, eliminating the need for your in-house data science team to build a complex model.
  • Direct-to-Source Data: Truv connects to over 13,000 financial institutions using secure oAuth and non-oAuth methods, leading to high pull-through rates and quick asset detail sharing.
  • Mitigate Risk from Unpredictable Income: By tapping into real-time transaction interpretations, you gain a predictable method to evaluate an applicant's ability to repay a loan, reducing exposure to risk.
  • Increased Efficiency: The cleansing and extraction process allows you to confidently underwrite and process loans faster, replacing inefficient manual data interpretation.