August 2022 Newsletter
We raised $50M in Series C Funding! Learn what else is new at Truework: product updates like instant data fields in the Truework API, co-branding flexibility with Truework.js, newly launched Truework Documents in beta, upcoming events and conferences to meet us in person, and this month’s featured customer: Jersey Shore State Bank.
Special Announcement: Series C
With consumer consent at the foundation of our mission, Truework verifies income and employment for important extensions of credit, such as mortgages and auto loans. "Automation and efficiency are at the heart of what we do at Truework, and building the future with a consumer-first mindset goes into every decision we make," said Truework CEO, Ryan Sandler. Series C funding will support making this mission a reality. By digitizing and simplifying the income and employment verification process for banks, lenders, payroll providers, and HR departments, Truework streamlines the lending process for both lender and borrower. Learn more about our $50M in Series C funding announcement.
Product Highlights
Level Up Underwriting with Instant Paystub Data
Lenders are often searching for ways to enable better and faster credit decisions. Truework has risen to the occasion by surfacing paystub data and updating the salary information fields to include both pay rate and pay frequency. This new instant data within the Truework API gives more insight into applicant income by instantly providing this useful additional data.
Maintain Your Brand Identity with Co-Branding
Truework.js now supports co-branding to deliver a more consistent experience to your customers. We have delivered enhanced publishable keys that support co-branding, allowing you to easily power your Truework-backed experience with your own logo and theme color.
Reduce Fraud and More with Automated Document Review
Now income document review is automated saving both time and money with review parsing. This new feature also identifies irregular or suspicious documents which can help lenders and verifiers identify fraudulent issues early in the process or flag documents for correction. Truework Documents is currently in beta and available for paystubs, with W-2s and bank statements coming soon. If you are interested in adding automated document review to your waterfall and working with us to guide the next stages of our roadmap, get in touch.
Design the Future of Loans with Truework Labs
Each of our customers has unique needs during the lending process, and we want to hear from you. Lenders want access to accurate financial information as early in the loan process as possible, the income of self-employed customers can be very difficult to verify, and the list goes on. With access to multiple means of verifying income and employment, lenders can increase the likelihood of a successful borrower experience. We believe that by listening to our customers' unique needs, we can create that successful borrower experience together. Truework Labs is another part of that same mission. Help shape the future of loans by giving your input on one of these upcoming projects.
- Verifying income for your self-employed customers.
- Verifying income for your customers via their checking and savings accounts.
- Estimating your customer’s income with basic information, like a zip code and job title.
If you are interested, curious, or would simply like to weigh in, fill out the form on the Truework Labs page. Someone from the Truework Labs team will reach out to you to schedule an interview. We thank you, in advance, for your contribution.
Upcoming Events (we hope to see you there!)
- Finovate Fall September 12-14, 2022 New York, NY
- Lend360 September 12-14, 2022 Chicago, IL
- Digital Mortgage September 13-15, 2022 Las Vegas, NV
- AFT Fall Summit September 25-27, 2022 Vancouver, BC
Featured Customer: Jersey Shore State Bank
What started as a small community bank in 1934 has grown to over 10 branches across Pennsylvania. Providing financial solutions from home loans, to personal banking, auto loans, and more, Jersey Shore State Bank strives to simplify the loan process and be the mortgage relationship you can bank on.
Ready to learn more?
Talk to our team to learn how Truework can simplify your income verification strategy.
