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Why Lenders Use Paycheck Pay by Truv?

Paycheck Pay by Truv Helps Lenders Approve More Loans

Problem Truv Solves:

  • Hidden Costs: Traditional methods incur unnecessary costs like ACH and authentication expenses.
  • Unidentified Qualified Applicants: Over 40% of the population has a low or no credit score. Traditional criteria often disqualify these potential applicants, blocking growth.
  • Outdated Solutions: Traditional solutions are outdated and block access to the fastest, most accurate data process.

The Truv Solution for Lenders:

  • Reduce Default Rates: Automates repayment, ensuring payments are made on time.
  • Scale Growth and Approve More Loans: By tapping into direct-to-source income and employment data, lenders can approve more loans to lower credit applicants and underserved segments.
  • Significant Savings: Decrease operational costs, increasing margins and achieving up to an 80% reduction in costs.
  • Conversion Optimization: Achieve higher conversion with a seamless user experience (UX), smart routing, and industry-leading mappings.
  • Smart Partnership: Truv creates a smart partnership between the lender and the customer with proven API integrations.