Case Study: BankSouth Mortgage achieves $100,000 in annual verification cost savings with Truv

BankSouth Mortgage saves $100,000 annually with Truv

BankSouth Mortgage, a community mortgage lender, faced escalating costs and operational complexity with its legacy income and employment verification provider, spending approximately $400,000 annually. They partnered with Truv to reduce these verification costs and streamline their vendor management while improving the borrower experience.

Truv implemented its consumer-permissioned verification solutions, integrating them seamlessly into BankSouth's nCino and Encompass platforms. This solution provided real-time analytics and a streamlined workflow. As a result, BankSouth realized $100,000 in annual cost savings, achieved an 82% VOIE login conversion rate, and significantly improved operational efficiency and borrower satisfaction.

BankSouth Mortgage