Truv’s first Product Update for 2025 enhancements is here, unveiling key updates to our open finance platform, including powerful new releases to our Platforms, Truv Dashboard, Orders, and more. This release has been curated to streamline client workflows, optimize user experiences, and unlock new efficiencies for you with consumer-permissioned data. Explore the latest developments at Truv!
Truv Platform Updates
Encompass Improvements
Show User-Assigned Templates Only: To simplify template selection for Encompass orders, Truv now automatically filters the dropdown list of templates in the “ New order tab” based on the user and product type, as assigned in Truv Dashboard. This improvement is particularly helpful for lenders with a large number of branches or DBAs. Admins/Owners review assigned templates in Truv Dashboard: Settings → Team page → Order Manager → Available Orders field.
Updated Product Names: To align more closely with transaction billing in Encompass by the end of February, Truv will release new product names. There has been no change to the functionality, requested data, or returned results. There is no action required by lenders.
- “Income and employment” → “Verification of income”
- “Employment” → “Verification of employment”
Truv Dashboard & Order Updates
Enhanced Users Tab (Beta Release): A new Users Tab in Truv Dashboard has been built to provide more visibility into Users and attempts for clients who use Truv’s embedded solution, now capturing: users who successfully connected, attempted but did not connect, or did not attempt. Filter by ‘users with attempts’ for easy navigation and review the ‘Timeline’ sidebar to see the full list of attempts. The Users Tab is planned for GA in mid-February. Reach out to Truv Customer Success or support@truv.com if you have questions or want to request early access.
Order Creation ‘Status updates’ Field: To give clients who create orders in Truv Dashboard more control over status update email recipients, we have added a ‘Status updates’ field to the create order form. Up to 15 email addresses can be added by the Order Manager. The CC’d email addresses are visible in a new ‘Status updates’ field under the ‘Order details’ section. (February 15th scheduled release date)
Enhancements to Status Update Email Logic: For clients who create orders, status update emails can be sent to the Order Manager, Loan Officer, Loan Processor, and new “alerts email.” We updated the notification configurations to make these settings more easily configurable.
- Removed
Notify the order creatorfield from Templates – this field was removed since it could prevent other roles, like Loan Officer or Loan Processor, from receiving status updates and overlapped with account-level notification settings. - Enabled
Alerts emailto receive status updates in addition to other roles – previously, we only allowed an alerts email or the Order Manager, Loan Officer, Loan Processor to receive updates. Now, any combination of the 4 contacts can be notified by default.
Switching Truv Order Links From HTTP to HTTPS: To improve security and allow Truv order links to be accessible from incognito browsers, we have migrated from HTTP to HTTPS protocol. No action is required by clients.
Billing Platform Migration: Truv recently migrated billing and invoicing to Orb. This platform provides Truv clients with increased visibility into present and historical usage.
Optional Terms of Service Consent: To increase consumer awareness on data privacy, Truv clients have the option to include a requirement that consumers review, agree to and select a Terms of Use checkbox prior to completing the verification steps within the order. Reach out to Truv to customize and enable this feature.
Conversion Improvements
At Truv, conversion is our benchmark for success. This means that we meticulously track and analyze our integrations with payroll providers and employers, proactively identifying and addressing any potential bottlenecks that could impact our data retrieval speed and parsing efficiency. Here’s a summary of recent conversion enhancements across our product suite:
Verification of Income & Employment
- Paycom: +9.41% improvement over the last 30 days
- Social Security Administration: +5.31% improvement over the last 30 days
Verification of Assets
- Wells Fargo: +25% improvement over the last 30 days
- Fidelity: +84.62% improvement over the last 30 days
Direct Deposit Switch
- Amazon: +15.03% improvement over the last 30 days
- Instacart: +16.4% improvement over the last 30 days
Upcoming Events
Dive into our library of on-demand event recordings or stay ahead of the curve by joining the Truv team at upcoming events this month:
- Housing Economic Summit: Meet with us in Dallas, TX on February 25.
- Northeast Mortgage Summit: Meet with us in Mohegan Sun, Uncasville, CT on February 26 or 27.
- ICE Experience 2025 : Meet with us in Las Vegas, NV from March 10-12.
Feedback for Truv
Our dedication to our customers isn’t just about providing excellent service; it’s a core principle that influences all we do at Truv. We listen closely to feedback and use it to drive continuous improvements, ensuring a seamless verification process from start to finish. Let us know how we can best serve you!
