Ocrolus

Ocrolus is a New York-based financial technology company developing solutions for financial automation. It was founded in 2014, and its solutions are designed to be used by financial services firms in industries such as banking, mortgage lending, and small business lending. The company has won several awards over the years, including Best Place to Work and Best Company Culture from organizations such as Business Insider and Built In.

Ocrolus Demo

The company has a document and data analytics platform of the same name. It automates financial decisions, such as classifying data so it can be labeled and indexed. Data can be extracted as various types, such as parseable PDFs, scans, and smartphone images and is classified using machine learning. Data extraction is automated on the platform and uses computer vision to scan information in financial documents for pertinent data. Both the classifying and the extraction have a human-in-the-loop component that is an extra step to ensure the validity of the data.

The platform's fraud detection feature has document tampering detection and algorithmic validation. It can detect inconsistencies, such as missing data or abnormal edit history, which may be detrimental to the business. Once all the data has been verified as valid, clients can use Ocrolus to analyze it for more than one hundred purposes, such as revenue, income, and trends. These metrics can aid the client in making financial decisions that will be beneficial to the company.

The Ocrolus platform can be used in a variety of contexts, such as the ones below:

• Cash flow—Lenders can analyze cash flow to reduce credit risk.
• Income and employment—Lenders can verify income and employment for borrowers with diverse or nontraditional employment profiles.
• Address—Address verification can be automated from any document.
• Identity—Borrower identity can be verified with driver's licenses, H1-Bs, passports, permanent resident cards, Social Security cards, and state ID cards.

Ocrolus offers a free trial, and after the trial, the price to use the platform depends on the type of documents to be used, extraction needs, volume, and contract terms.