Truework is a customizable platform that integrates various verification methods to streamline income and employment verifications for banks and lenders. By utilizing direct-to-source data, it enhances accuracy and efficiency, enabling businesses to automate workflows and reduce the risk of income fraud.
Funding
$128.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
TFounders
Product
Problem
Verifying income and employment is a critical process for businesses like lenders and property managers, but traditional methods are often slow, manual, and prone to fraud. Relying on applicant-provided documentation can be unreliable, while contacting employers directly is time-consuming and inefficient.
Solution
Truework offers a unified platform that automates income and employment verifications using multiple data sources, including direct connections to payroll providers. By orchestrating various verification methods, Truework intelligently routes each request to the most efficient method, maximizing coverage and speed. This allows businesses to streamline their workflows, reduce manual effort, and mitigate the risk of income fraud. The platform provides a single point of access for verifying applicant information, standardizing the process and improving accuracy.
Target Audience
Truework primarily serves mortgage lenders and tenant screening companies seeking to automate and improve the accuracy of their income and employment verification processes.
Features
- Access to multiple verification methods, including direct-source payroll data
- Intelligent orchestration that routes each request to the optimal verification method
- Automated fraud detection to identify potentially falsified income documents
- Customizable platform to fit specific business needs and workflows
- Flexible integration options, including API access and web application
- Standardized reporting format for consistent and easy-to-understand verification results
- FCRA compliance to ensure data accuracy and applicant rights
- Success-based pricing model, where customers only pay for completed verifications