The Truv team spent November laser-focused on elevating our open finance platform through a strategic series of feature releases and refinements. Our latest innovations are purpose-built to streamline client workflows and enhance the end-user experience, pushing the boundaries of what’s possible in consumer-permissioned data solutions. Explore the latest updates from Truv below!
Truv Platform Updates
Encompass Improvements
If you leverage Truv verifications through the Encompass® platform, we’ve made enhancements to improve the experience and expand functionality to enable seamless verifications.
- Using Encompass Values in Truv Templates: If your business model operates with correspondent and broker channels, it’s important for your Loan Originators to have flexibility with messaging and branding on orders to borrowers, including the email, SMS, and landing page copy. When messages are tailored to the borrower’s lending experience instead of incorporating a parent company, any Delays in borrower action due to uncertainty may be avoided. To enable expanded customization, we’ve introduced a new mapping from the Encompass field to Truv’s custom field that can be used in Truv templates.
Ready to implement? Refer to our step-by-step setup guide for detailed instructions on leveraging this new customization capability:
- Navigate to Encompass Admin → Services Management → then select “Truv – Verification of Income/Employment” provider
- Select Field Mapping and create a [Encompass custom field] → “Maps To” → “custom_field” relationship in an open space
- Navigate to Truv Dashboard → Customization → Templates, select a Template → add {custom_field} to desired fields
Once these steps are complete, orders created in Encompass using this Template will pull the mapped field value and add it to the order notification to populate in the email, SMS or landing page accordingly.
- Refined Encompass UI Design: As a fast follow to the UI refinements recently released to the Encompass interface, we’re excited to announce that we’ve officially rolled out the new, standardized design system. Since the last release, we’ve honed in on standardization to enhance tabs, tables, pages, loading screens, dialog boxes, no results states, menus, headers, indicators, and tooltips. With a sleeker look and feel, Encompass users will experience streamlined navigation.
Empower Improvements
- Writing GSE Report ID to Empower Report ID Field: To improve automation for lenders who are using the Empower loan origination system, we have enabled functionality to automatically write the GSE Report ID that is returned with a Truv Report into the corresponding GSE Report ID field in Empower that is used for submission. This removes the manual process of copy and pasting Report IDs from documents into the Empower platform, expediting the process and preventing errors. Additionally, if a new report is generated with more data, the Report ID will automatically be updated in Empower, ensuring the most up-to-date report is submitted to GSEs.
- Note: This enhancement has been released on the Exchange and is expected to be available in Empower following the platform’s scheduled release on December 20th.
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. Rounded up below are conversion improvements across a few of our products:
Verification of Income & Employment
- Lowe’s: +34.35% improvement over the last 30 days
- Target: +22.81% improvement over the last 30 days
- Wellstar Health System: +31.55% improvement over the last 30 days
Verification of Assets
- Chase Bank: +9.18% improvement over the last 30 days
Direct Deposit Switch
- Social Security Administration: +29.62% improvement over the last 30 days
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.
- Refined Dashboard UI design system: As a fast follow to the UI refinements recently released to the Truv Dashboard, we’re excited to announce that we’ve officially rolled out the new, standardized design system. Since the last release, we’ve honed in on standardization across Dashboard components, including: tables, pages, menus, headers, indicators, no results states, accordions, key numbers, informational tables, company lists and code blocks. With a sleeker look and feel, Dashboard users will experience streamlined navigation.
- Enhanced Billing Transparency with Orb: To improve billing accuracy and provide more comprehensive usage insights, Truv has transitioned to Orb, a sophisticated billing platform that offers more detailed and precise invoicing. Moving forward, our billing contacts will receive monthly invoices directly from Orb, replacing our previous billing system.
- Billing Tab: If you have access to this tab in Truv Dashboard’s settings, you will be redirected to Orb Customer Portal to view:
- Remaining credit balance
- Daily usage
- Outstanding and historic invoices
- Billing Tab: If you have access to this tab in Truv Dashboard’s settings, you will be redirected to Orb Customer Portal to view:
Upcoming Events
Dive into our library of on-demand event recordings or stay ahead of the curve by registering for upcoming events.
Customers Come First
Our commitment to our customers goes beyond standard customer service—it’s a fundamental guiding principle that drives every decision we make. By actively listening and continuously adapting, we’re able to transform customer feedback into meaningful product improvements to optimize the verification experience end-to-end.
