SAN FRANCISCO, April 13, 2021 /PRNewswire/ -- Truework, the consumer-driven income verification platform, today announced an exclusive partnership with Gusto, the modern people platform that provides small and medium businesses with payroll, benefits and HR, to support income and employment verifications for any employee on the Gusto platform. This partnership will expand Truework's network by over 100,000 small businesses and their employees who use Gusto, making Truework the largest verification provider for small businesses.
The process for verifications can be time-consuming and insecure. Due to the nature of most requests being completed during high-impact life events such as buying a home or starting a new job, verifications can present serious fraud and privacy risk to vulnerable employees. Verifiers will call, email or sometimes even fax a business with short notice and often without the employee's explicit consent. HR teams, especially at small businesses, are unprepared to deal with the threat of fraudulent verification attempts.
This partnership with Gusto will make it easier for employees on the Gusto platform to verify sensitive information by giving them better control over how their employment data is shared. With Truework, employment information can be shared directly with third-party verifiers, but only after employees give their consent can any data be sent outside the platform.
"Income verification is a prime example of a process that has been streamlined and secured for employees at large enterprise organizations while small businesses and their employees are left behind," said Ryan Sandler, CEO and co-founder of Truework. "Anyone who has worked at a small business while applying for a mortgage knows how painstaking this process can be. Oftentimes it is up to the employee to chase down their manager to respond to faxes and phone calls, all while the business and its employees have a laundry list of more important things to do to help serve their customers."
"At Gusto, we firmly believe in the notion that companies are data custodians, not data owners, and employees deserve transparency and ownership of their personal data," said Somrat Niyogi, Gusto's head of business development. "In partnering with Truework, we're giving employees the privacy and consent they need to better own and control their data while significantly reducing employers' time spent on the employee verification process."
For employers using Gusto, Truework saves time by automatically responding to verification requests from lenders, landlords and other third parties. On average, 25% of employees annually engage in a life event or transaction that requires this type of verification, saving Gusto users dozens of hours per year.
About Truework Truework is a platform for employment and income verification that puts consumers in control of their personal data. Truework digitizes the verification process for HR departments, banks and others to make it faster and more secure for individuals to get verified when applying for loans, jobs and apartment rentals. Founded by Ryan Sandler, Ethan Winchell and Victor Kabdebon in 2017, the company is backed by Sequoia Capital, Khosla Ventures, Activant Capital, and others. To learn more, visit www.truework.com.
About Gusto Gusto is a modern, online people platform that helps small businesses take care of their teams. In addition to full-service payroll, Gusto offers health insurance, 401(k)s, expert HR, employee self-onboarding, and team management tools. The company serves more than 100,000 businesses nationwide and has offices in Denver, New York City, and San Francisco.