Verify buyer documents in minutes with auto lending automation software
Ocrolus automates the capture and review of auto loan documents, accelerating auto lending decisions with reliable data.
Ocrolus identifies borrower-supplied documents, paystubs, bank statements, and IDs, returning accurate data in minutes. Auto lenders make smarter, faster loan approvals by using Ocrolus auto lending software to initiate a quick and secure buyer review process.
Ocrolus gives you immediate and measurable ROI with no document training required and a simple integration set-up.
Modernize your auto lending business processes with document automation.
Learn more about automated digital workflows and other automotive lending solutions Ocrolus has to offer.
Frequently Asked Questions
The auto loan income verification process follows a series of steps including classifying the auto lending documents using machine learning, extracting and structuring the data, then verifying the documents and detecting any potential document fraud before the documents are analyzed for loan decisioning by the lender.
Robotic process automation (RPA) is a form of automation technology replicating the actions customarily carried out by humans. It uses algorithms and software to automate repetitive tasks that involve structured data or rule-based processes. In auto lending, RPA can be used to help automate tasks such as document processing, customer verification, and and data entry.
Optical character recognition (OCR) is the ability for machines to convert images of typed text into machine-readable data.
Income, address, and employment verification document types can all be processed and verified for auto lending decisions. This includes documents such as W2s and paystubs, IDs, bank statements, utility bills, and much more.