Background-check provider Checkr has acquired Truv, a company that verifies income, employment and assets on a consumer-permissioned basis, extending Checkr’s verification platform into mortgage lending and government benefits eligibility. Terms were not disclosed.
Truv connects directly to payroll providers and financial institutions to confirm income, employment and assets in real time, rather than collecting pay stubs and bank statements from applicants. The company says its network reaches 96 percent of the US workforce. The model is consumer-permissioned, meaning the individual authorises the connection to their payroll or bank account and the verifier reads the record at source rather than trusting a document the applicant supplies.
Checkr says income fraud accounts for nearly half of the fraud findings in Fannie Mae’s investigations, and that pulling data from the source reduces errors that can delay decisions for people applying for a mortgage or public benefits.
The acquisition takes Checkr into government work. Truv already serves state agencies administering social services programmes including Medicaid and SNAP, where eligibility turns on verified income and employment. It also strengthens Checkr’s existing mortgage business, where lenders have to establish a borrower’s earnings before underwriting.
Checkr says it now serves more than 140,000 customers and is pursuing a market it sizes at 45 billion dollars across identity, workforce, mortgage and tenant verification. The deal follows the company’s 2025 purchase of employment verification firm Truework, making Truv its second acquisition in the same segment in roughly a year.
The scale of the government problem is documented. Citing the Government Accountability Office, Checkr said Medicaid and SNAP accounted for an estimated 186 billion dollars in improper payments last year, as agencies face pressure to cut error rates while still paying benefits quickly.
“In an AI world, human verifications have become essential to nearly every industry, but too often they’re fragmented across different systems and providers,” said Daniel Yanisse, co-founder and chief executive of Checkr. Truv co-founder and chief executive Kirill Klokov said the two companies shared a view that people should have greater visibility into and control over their own financial information.
Other vendors have bought rather than built in the same segment, with Deel acquiring Clarity to add deepfake detection across hiring and workforce identity.
Hiring platforms have been folding in the same checks, with Covenant HR adding identity verification to its Scout hiring platform to confirm applicants are who they claim before an offer is made.
Sources: PR Newswire, HousingWire
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By the ID Tech Editorial Team
