The acquisition builds on Checkr’s expansion of its offerings over the last year to include Mortgage, Tenant and Personal verification solutions, according to the release.
With these moves, Checkr has accelerated its evolution into a data platform for high-stakes decisions at a time when artificial intelligence-powered fraud increases the need for stronger identity and income verification, the release said.
The acquisition of Truv strengthens Checkr’s Mortgage business and marks its entry into government through benefits eligibility verifications. Truv has deep relationships within the mortgage industry and serves a growing number of state agencies that administer social services programs, per the release.
Checkr Co-Founder and CEO Daniel Yanisse said in the release that while human verifications are essential, the process is often fragmented across systems and providers.
“Our vision is to build a single platform that helps businesses, government agencies and individuals navigate those moments with greater accuracy, speed, confidence and trust,” Yanisse said. “Getting it right matters just as much for the person being verified as it does for the organization relying on it. Bringing Truv into Checkr helps accelerate that vision.”
Truv Co-Founder and CEO Kirill Klokov said in the release that the two companies share a belief that people should have greater visibility and control over their own financial information.
“Together, we’ll bring trusted, accurate data to more organizations while creating better experiences for the people whose lives are impacted by these high-stakes decisions,” Klokov said.
When Checkr appointed ZipRecruiter veteran Tim Yarbrough as chief financial officer in April, Yanisse said Yarbrough was joining the verification platform at a pivotal moment.
“AI is reshaping how society evaluates people and makes decisions, and as we continue to invest in building the AI verification platform for critical decisions in life, Tim’s experience scaling a company through a similar stage of growth is exactly what we need,” Yanisse said.
The PYMNTS Intelligence report “When ‘Good Enough’ Isn’t Enough: Digital Identity Verification in the Age of Bots and Agents“ found that firms may be missing measurable improvements available through more advanced solutions.
