Truv dedicated April to refining our platform’s core functionality and making our suite of consumer-permissioned solutions more powerful than ever. We’ve implemented key improvements that enhance both performance and user experience across the board. Check out this month’s improvements below.
Truv Platform Updates
Encompass Improvements
For lenders ordering Truv verifications through the Encompass® platform, we’ve made enhancements to improve the experience and expand functionality to enable seamless verifications.
- Coverage Success Rate for Not Enough Attempts: Previously, if there were not enough recent attempts to determine a success rate for an employer, the low coverage indicator displayed. Now, a new indicator and tooltip displays to provide more visibility into connections prior to sending an order → success_rate: null value. If ASO is enabled, these connections auto-select to send in the order. Additional configuration optionality will be released for customization.
- Order Loading and Complete Icons: We’ve introduced ‘loading’ icons to indicate that the document upload process to the eFolder is in progress. When the order upload is complete, a new icon displays, indicating that the documents are available for download.
Truv Dashboard & Order Updates
For Truv Dashboard users, we’ve rolled out new features to enhance the experience and provide expanded end-to-end visibility.
- New Tab Added for Uploaded Documents: In Truv Dashboard → Orders → Report, a new ‘Uploaded documents’ tab has been added to provider higher visibility into source documents: paystubs and W-2s. For cases that return “no_data’ or no report is available, uploaded documents are still added and available to view.
- Multi-Tenant Support Feature: Truv clients can now manage multiple business units separately within their account. Users can be invited to and participate in different tenant environments, switch between different tenant environments easily, and access dedicated sandbox testing account, allowing for isolated testing environments for each business unit.
- New Coverage Success Indicator in Create Order Form: Previously, if there were not enough recent attempts to determine a success rate for an employer, the low coverage indicator displayed. Now, a new indicator and tooltip displays to provide more visibility into connections prior to sending an order → success_rate: null value. In the order form, the new indicator applies to VOIE and VOE products.
- New Coverage Success Indicator in Coverage Search Tool: Previously, if there were not enough recent attempts to determine a success rate for an employer, the low coverage indicator displayed. Now, a new indicator and tooltip displays to provide more visibility into connections prior to sending an order → success_rate: null value. In the coverage search tool, the new indicator applies to VOIE, VOE, DDS, PLL products.
- Unsubscribe Button in Order Emails: We have added an ‘Unsubscribe’ button to all email notifications for end users.
Truv Bridge Updates
To improve the end user experience, we’ve released new enhancements to Truv Bridge.
Manual Data Source Selection Flow: For consumer lending use case, when a consumer exits the Truv experience, we’ve introduced a new screen to provide the consumer with the option to select their preferred login method (based on data source): Login to payroll provider, login to financial institution, or upload documents. This has been added to optimize conversion rates.
- “Already Connected” User Experience Screen: When a borrower or consumer re-opens their Truv order and enters the Truv Bridge experience they can now refresh their connection with the financial institution. If a refresh is not available, a new screen has been added notifying them that their account has already been successfully connected and no further action is needed. This experience has been added Verification of Assets.
Conversion Improvements
At Truv, we measure our success through conversion performance. Truv’s network of payroll systems and employers is continuously monitored to identify and resolve any friction points that might affect data retrieval and parsing. Here’s a summary of recent conversion enhancements across our product suite:
Verification of Income & Employment
| Provider | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| Paycor | 70.91% | 78.66% | +7.76% |
| Gusto | 78.95% | 82.19% | +3.24% |
Verification of Assets
| Financial Institution | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| US Bank | 50% | 90.91% | +40.91% |
Direct Deposit Switch
| Provider/Company | Prior 30 days | Last 30 days | Improvement |
|---|---|---|---|
| Compass Group | 34.23% | 42.08% | +7.85% |
| MyPay | 47.46% | 49.86% | +2.3% |
Upcoming Events
Check out Truv’s library of on-demand event recordings or schedule time to meet with the Truv team at upcoming events this month:
- nCino nSight 2025: May 19-21 in Charlotte, NC
- MBA Secondary & Capital Markets Expo: May 18-21 in NYC, New York
Feedback for Truv
These recent enhancements to our platform are just the beginning of our commitment to you. We value your input and would love to hear about any additional improvements or integrations you envision for the future. Please share your thoughts and ideas with us!
