June 2022 Newsletter
In this month’s newsletter, learn about our latest product highlights, including the integration of Plaid Income into the Truework waterfall, automated service ordering in Encompass, upcoming events and conferences our team will be attending, and our featured customer, Octane Lending. Be sure to sign up for insights and key takeaways from last month’s “Less Risk, More Customers” webinar!
Product Highlights
Automated Service Ordering via Encompass: Live this month!
Truework is the first VOI/E provider to enable you to automatically submit verifications without any touch points from loan processors. This accelerates the time to submission and eliminates any room for error when submitting verifications manually. You can now verify 35 million unique and active employee records without the touch of a button. Additionally, automated service ordering through Truework does not require an authorization form upload, saving lenders additional time per request.
New Integration: Plaid Payroll Income
Truework announced Plaid Income as the latest integration into Truework Credentials, providing fast and easy income verification through user-permissioned data. Using Truework.js, you can embed a Credentials module directly into your loan application flow, enabling your applicants to securely and easily share their payroll (employment and income) information in just a few clicks. The addition of Plaid brings another trusted partner to the Truework waterfall, and allows consumers to more quickly and easily verify their income and employment details.
We built Plaid Income to provide a more inclusive credit system for all. Partners like Truework share our consumer-first vision to empower them with control of their own financial data.
Upcoming Events
Come see us at these upcoming events!
- SHRM Annual Conference & Expo - June 12-15, New Orleans
- Digital Banking - June 13-15, Austin
- Digital Mortgage - September 13-14, Las Vegas
- Money20/20 - October 24-27, Las Vegas
Featured Customer - Octane Lending
Octane offers a fully digital buying experience for recreational vehicle purchases. Recognizing and emphasizing the need to dramatically simplify and accelerate the transaction process, Octane offers automated underwriting and financing, helping consumers by pre-qualifying them on dealer and OEM websites.
The challenge:
- Must verify income on a subset of applicants.
- Collecting pay stubs and W2s is cumbersome for applicants and requires manual validation.
By integrating Truework’s API in their dealer application, they increased conversion by reducing the number of applications that required income stipulations.
Truework offers innovative and ambitious income solutions with the combination of instant and user-permissioned income to help lenders like Octane remove friction and increase approval-to-book conversion.
Webinar
Truework enables you to provide the right rate, to the right customer, at the right time. Watch our “Less Risk, More Customers” webinar to learn why verified income is the next evolutionary step in consumer lending.
Learn how verification of income becomes a huge advantage that helps lenders:
- Expand your customer base with a wider credit window while increasing profitability.
- Win more applicants without adding undo friction to the loan process.
- Achieve instant, user-permissioned data, and/or smart outreach verifications through a single integration, a single provider, with a single report format.
Grow your business with Truework
Join the group of 17,000 organizations that use Truework to increase applicant conversion with faster income and employment verifications.
