TransUnion, a global information and insights company, has unveiled a strategic partnership with Truework, a front-runner in the provision of verification of income and employment (VOIE) services in the US.
Truework stands out in the industry for offering a comprehensive and efficient one-stop platform for VOIE information, while prioritising consumer control of personal and financial data.
The collaboration is built on the objective of delivering extensive income verification coverage, bolstered with robust credit data. The partnership aims to offer verifiers a current, holistic view of consumers, fostering improved insights and decision-making efficiency.
TransUnion is renowned globally for its efforts in instilling trust in every transaction by providing an actionable view of consumers. With a workforce of over 12,000 associates across 30 plus countries, TransUnion remains at the forefront of providing Information for Good. Through strategic acquisitions and tech investments, TransUnion has broadened its scope beyond its core credit base to encompass marketing, fraud, risk, and advanced analytics.
Truework, with its headquarters in San Francisco, streamlines every verification method required by customers into a single platform, leading to faster decisions backed by accurate income data. By utilising a unique multipronged approach, Truework covers 90% of U.S. employees and is an authorised report supplier for Fannie Mae’s Desktop Underwriter validation service.
The strategic partnership is set to augment TransUnion’s capabilities, meeting the growing market demand for VOIE with a suite of customisable solutions across varied industries. Additionally, the two companies plan to co-develop the next generation of VOIE solutions.
TransUnion and Truework foresee that their partnership will pave the way for enhanced customer insights, clearer consumer pictures during loan or employment applications, and tailored solutions across different industries. “We expect that our collaboration will allow customers to derive superior insights and make more informed decisions by providing a broader view of consumers,” said Hilary Chidi, EVP, Credit Risk Solutions and Chief Sustainability Officer of TransUnion.
Pravesh Mistry, Chief Revenue Officer of Truework added, “We expect this partnership to enable Truework to accelerate our distribution to TransUnion customers. We are excited to combine our expertise and resources to evolve the income verification process for lenders, while improving the experience for the end consumer.”
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