We sit down with Kirill Klokov, CEO of Truv, to break down everything lenders need to know about income verification providers. 

Vetting Income Verification Vendors

• Why most providers use the same underlying data sources


• The power of back-testing analysis on your own data


• Smart questions sophisticated lenders ask during RFPs

The Consumer Experience

• Why 35% of users drop off at bank login screens


• How to build a smart "waterfall" approach (spoiler: start cheap, then hit instant databases)


• The messaging that actually works with borrowers

Beyond Basic Income Verification

• Why a "complete product" covers W2s, gig workers, benefits, and self-employed


• How payroll data beats bank data for complex income situations


• The complexity of underwriting sales reps vs. salaried workers

AI's Impact on Lending

• How AI is eliminating manual QA and bug fixes


• Why payroll data becomes more valuable as AI-generated fraud gets better


• The future of mortgage loan officers (hint: they're not going anywhere)

Truv's New Business Model

• Their shift from per-transaction pricing to "pay when the loan closes"


• How this aligns incentives and removes upfront risk for lenders

Find Kirill Klokov on LinkedIn:

https://www.linkedin.com/in/kirillklokov/

***

A word from our sponsor, Fintel Connect

Drive thousands of new accounts and billions in deposits with the only partner marketing solution built for fintech and banking – your all-in-one affiliate platform, partner network, agency, and marketing compliance engine.

https://partner.fintelconnect.com/get-to-know-fintel-connect?utm_campaign=13897733-2025%20Partners&utm_source=The%20Free%20Toaster&utm_medium=podcast

 

A word from our sponsor, Spinwheel:

 

Reduce friction in your lending application with just two fields—phone number and birthdate. Spinwheel’s APIs boost application rates by 20-30% while also providing real-time credit data and seamless payment processing. Want to see it in action? Connect with their Head of Growth for a demo!

https://spinwheel.io/partner/?utm_source=freetoaster&utm_medium=podcast&utm_campaign=july

A word from our sponsor, New Market Growth:

 

New Market Growth helps fintech consumer lenders generate explosive growth on affiliate marketing channels like Credit Karma, Experian Marketplace, LendingTree, and others.



Affiliate marketing involves marketing & credit risk expertise, and NMG's founders bring this with 21+ years of lending experience and 8+ years experience as executive affiliate operators.



If you'd like help planning or implementing your affiliate marketing strategy, email us at carlos@newmarketgrowth.com

 

Subscribe to the Free Toaster Newsletter:



www.thefreetoaster.com/