Summary
Ryan Sandler, the founder and CEO of TrueWork, discusses the lack of transparency and privacy in sharing personal financial data, particularly in income verification.
He shares his aha moment when he discovered the extent of data sharing and the need for a solution.
TrueWork's platform enables secure access to employment income data, providing a seamless experience for both lenders and consumers.
Sandler explains the waterfall process of income verification and the importance of automation in streamlining the process.
He also discusses the company's near-term roadmap, including expansion into other verticals, and their future plans of bringing other data assets onto the platform.
Takeaways
The lack of transparency and privacy in sharing personal financial data is a significant problem in income verification.
TrueWork's platform enables secure access to employment income data, streamlining the verification process for lenders and providing a seamless experience for consumers.
Automation plays a crucial role in speeding up income verification and reducing the time and effort required from both lenders and consumers.
TrueWork has plans to expand into other verticals, such as tenant screening, auto lending, personal lending, background checks, insurance, and government agencies.
Chapters
00:00 Introduction
00:45 The Problem of Transparency and Privacy in Sharing Personal Financial Data
05:19 Enabling Secure Access to Employment Income Data
07:20 The Consumer Experience on the TrueWork Platform
09:13 The Waterfall Process of Income Verification
11:28 The Importance of Automation in Income Verification
15:40 Near-Term Roadmap: Expanding to Other Verticals
19:24 Closing Remarks
