Truework, a provider of income and employment verification technology, has introduced Truework Intelligence, the first fully automated and comprehensive verification platform for mortgage lenders and property managers.
The Truework Intelligence platform covers the end-to-end verification experience by delivering automatic orchestration, data standardization and insights—replacing homegrown vendor “waterfalls” and associated internal processes, eliminating guesswork and handing customers a plug-and-play solution, the company says in a release.
“We started Truework to reinvent the way consumer data was collected and processed for maximum security and accuracy,” says Ryan Sandler, CEO and co-founder of Truework. “From the early days, machine learning was a core part of our product. It has continued to evolve over time, both through internal modeling efforts and the latest external technologies. The Intelligence Platform is the result of this evolution to truly serve as a single solution for customers.”
The new platform adds bank income and tax transcripts to existing data methods (instant database, payroll connection, automated outreach and documents) to extend coverage to any U.S. employee. Truework automatically engages with one or multiple methods simultaneously and identifies the optimal method until the request is complete.
It also adds predictive modeling for report turnaround times and likelihood of report completion to provide further transparency and deeper insights into the verification process. This is in addition to existing machine learning models that match data points across real-world entities, extract and parse data for accuracy and estimate the accuracy of income according to employment details.
What’s more. the platform is built with the flexibility to bring intelligent verifications to anywhere in an organization’s existing processes, either through custom configurations, custom-built integrations, or system integrations.
Truework claims it is the only verification solution to focus on solving for business outcomes.
“It’s not about returning the first data set we find,” Sandler says. ”That’s what everyone else does. And it doesn’t work. It makes organizations leverage subpar vendors to fill data gaps. We are looking at the bigger picture by providing an accurate and complete picture of every consumer, using technology to handle data with trust and attention to detail.”