Case Study: TurboPass accelerates loan funding and reduces losses with Truv

TurboPass Accelerates Funding Time and Reduces Loan Losses with Verification Technology Stack

TurboPass, a digital verification provider for auto lenders, consumer finance companies, retailers, and apartment complexes, was looking to replace slow, manual paper-based checks for income, employment, and insurance with a faster, more reliable process. To support that goal, it worked with Truv as part of a broader verification technology stack to improve accuracy, reduce fraud, and speed up approvals for its customers.

With Truv’s consumer-permissioned income and employment verification data, TurboPass built a standardized pay stub report that instantly verified information and reduced the need for manual phone calls and document review. The results included a 1.5-day faster time to fund, a 38% reduction in loan losses for applicants with 0 FICO scores, and a 49% reduction in bank fees, while one auto lender also cut funding time from 4 days to 2.5 days.

TurboPass

Lou Loquasto

Chief Revenue Officer