Income and Employment Verification

Overview

Truv's Verification of Income and Employment (VOIE) product provides seamless access to users' employment and income information from authenticated accounts. This enables quick and efficient verification of employment and income, enhancing the decision-making process.

Truv gathers data from trusted sources, offering comprehensive employment and income history. This service benefits tenant screeners, loan officers, banks, and fintech companies by enabling instant verifications, thus improving user experience and reducing wait times.

Methods of Income Verification

Truv offers three methods for verifying income and employment:

Payroll Income Verification: Directly access payroll data to verify employment and income details. This method provides the most accurate and up-to-date information from the user's payroll provider.

Bank Income Verification: Analyze bank transactions to determine income patterns and verify employment. This method is useful when payroll data is not available or to supplement payroll verification.

Document Income Verification: Collect and analyze income documents such as pay stubs, W-2s, and tax returns. This method is ideal for verifying income when payroll and bank data are insufficient.

Tax Return Income Verification : Utilize tax returns to verify income, providing a detailed record of earnings over time. This method is particularly useful for self-employed individuals or those with multiple income sources.

Use Cases

Here are some scenarios where verifying income and employment is beneficial:

Underwriting mortgage, auto, and personal loans
Loan origination and employment confirmation
Tenant screening

Combined Verification

To gain a comprehensive view of a borrower’s financial situation, combine Income Verification with Asset Verification, which provides consumer-permissioned access to asset information.

Next Steps

Get Started with Truv

Begin integrating Truv's VOIE product into a workflow by following these guides:

Contact Support

For any assistance, contact Truv Support.