Truv operates on a consumer-permissioned model, ensuring that your personal data is accessed and shared only with your explicit consent. Here's how Truv uses your data:
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Secure and Consent-Based Data Collection: When you apply for services like loans or employment, you may be asked to verify your income or employment status. Truv facilitates this by securely connecting to your payroll provider or bank account after you provide your consent and credentials using encrypted authentication methods. Truv will never store your credentials.
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Secure Data Retrieval: With your authorization, Truv retrieves only the necessary information—such as pay stubs, employment history, or account balances—in real time. This information is standardized into a consistent format to ensure accuracy and completeness.
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Data Delivery to Authorized Parties: The requested standardized data is securely transmitted to the authorized entity (e.g., lender, employer, or landlord) through secure and encrypted channels. This process aids them in making informed decisions regarding your application.
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Data Security and Privacy: Truv employs industry-leading security and encryption measures to protect your information. All processed data is encrypted and stored securely in the United States, primarily using Amazon Web Services (AWS). Additionally, Truv adheres to applicable privacy laws like CCPA, FCRA, and GLBA to ensure compliance and safeguard your privacy.
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Data Retention and Deletion: Truv follows strict data retention policies. Data is only retained as long as necessary to fulfill its intended purpose or comply with legal obligations.
- Automatic Deletion: After fulfilling its purpose, data is deleted automatically unless legal obligations require retention.
- User-Controlled Deletion: You may also request deletion at any time via an API or by contacting Truv, subject to applicable legal requirements.