No-Login-Required Bank Statement Review Automation Starts with Strategic Funding Source
May 17 2017
Wall Street, NY — Ocrolus, the emerging leader in bank statement review automation, is pleased to announce its arrival in the lending community with flagship customer Strategic Funding Source. The PerfectAudit API, powered by Ocrolus, analyzes uploaded bank statements with 99+% accuracy, replacing manual review with automation. Ocrolus technology allows lenders, for the first time, to review every potential borrower’s bank statement data automatically, regardless of whether or not the borrower provides sensitive bank login credentials
“We are delighted to be working with Strategic Funding, one of the elite firms in the alternative lending industry,” said Sam Bobley, CEO and Co-founder of Ocrolus. “Strategic Funding helped us understand the pain points of reviewing bank statements as it relates to small business loan underwriting and we’re very thankful for their guidance. We are excited to enable Strategic Funding to conduct an automated, hyper-accurate bank statement review for every potential borrower.”
Over the last few months, Ocrolus and Strategic Funding Source have been working together on a retroactive analysis project, employing the PerfectAudit API to investigate loans that have already been funded. With evidence of the platform’s effectiveness, Strategic Funding Source will now also be utilizing the PerfectAudit API to analyze bank statements for new applicants.
“Taking on live applications for Strategic Funding Source represents our formal debut in the lending community,” said Victoria Meakin, President and Co-founder of Ocrolus, who has more than 125 accounting and law firm customers. “We look forward to rolling out our API to additional lenders who seek increased accuracy, automation, and standardization, which we believe are critical factors in managing credit risk.”
Ocrolus is a technology company that automates the review of bank statements. The Company’s PerfectAudit platform analyzes statements from every financial institution with 99+% accuracy, generating account information, summary analytics and a comprehensive database of transactions. By replacing one of the few remaining manual underwriting procedures with hyper-accurate automation, Ocrolus strives to strengthen the FinTech ecosystem.
About Strategic Funding Founded in 2006 and headquartered in NYC, Strategic Funding has been recognized by customers and the industry as one of the most reliable and respected names in small business financing. With flexible financing options, Strategic Funding provides small businesses with the working capital they need to take advantage of opportunities and grow.