Checkr Acquires Truv to Chase $45 Billion Verification Market
Updated
Updated · citybiz · Aug 18
Checkr Acquires Truv to Chase $45 Billion Verification Market
3 articles · Updated · citybiz · Aug 18
Summary
Checkr bought Truv to add consumer-permissioned income, employment and asset verification, extending its platform beyond background checks into mortgage lending and government benefits.
Truv’s network reaches 96% of the U.S. workforce through payroll providers and financial institutions, giving Checkr direct source-data connections that can speed decisions and reduce manual documentation.
Mortgage lending is a key target because Checkr said income fraud accounts for nearly half of fraud findings in Fannie Mae investigations, raising demand for source-based verification.
Government benefits is the other major expansion area, where Truv already works with state agencies on programs such as Medicaid and SNAP amid $186 billion in federal improper payments last year.
The deal supports Checkr’s push to unify identity, background, employment, income and asset checks on one platform for its more than 140,000 global customers.