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Building the future of fintech infrastructure, together

12 Oct 2023
featured building the future of fintech infrastructure together

As the modern financial landscape is increasingly digitized, the industry is facing new challenges and new opportunities. Fintech infrastructure is a complex web of interconnected systems and services to help organizations make the most of digitization.

It’s not about navigating the terrain solo but about building bridges with partners that drive innovation. Collaboration throughout the industry is essential to provide financial organizations with comprehensive solutions that fit their workflows and facilitate smarter financial decisions.

As the saying goes: if you want to go far, go together.

At Ocrolus, we’ve taken this to heart, partnering with companies across the industry to help drive the fintech ecosystem forward.

The power of strategic partnership

Our expansive network of partners serves one core purpose: empowering our customers – whether they are lenders, banks or property managers – with enriched, actionable insights.

Understanding the unique needs of each customer and industry is both vital and challenging. Our partnerships help bridge this gap. By collaborating with strategic partners who excel in data aggregation, artificial intelligence and machine learning, we provide our clients a comprehensive view of their consumers.

Each of our strategic partnerships is designed to address specific challenges and uncover untapped opportunities that lie within the fintech space. Whether it’s a lender grappling with credit risk assessments or a property manager trying to gauge tenant reliability, our partnerships ensure they have the best tools at their disposal.

Fostering innovation

In the world of fintech, innovation isn’t just a buzzword – it’s what propels our industry forward. Our partnerships embody this spirit of innovation, leveraging our collective competencies to redefine the lending landscape.

A great example of how Ocrolus collaborates with partners is our work with Plaid, the premier data network powering the digital financial ecosystem.

Lenders, property managers, mortgage originators and their teams often face hurdles in consistently qualifying an individual’s income and employment. This challenge becomes even more complex with the growing number of non-traditional workers in the mix.

Our strategic partnership with Plaid fostered the document feature within Plaid Income. One of three features of Plaid’s Income product, together we were able to identify the problem, envision a solution and build the feature from scratch to consistently qualify an individual’s income and employment.

Our partnership with Plaid not only streamlines lending but also gives consumers more control over their information. Plaid and Ocrolus offer multiple ways for people to share their data, ensuring they control their own information and paving the way for a more inclusive credit and lending system.

Improved efficiency

Efficiency isn’t just about speed, but about precision and accuracy. As workflows become more complex and diverse, the importance of integrating solutions that enhance the accuracy and speed of decision-making becomes paramount.

Recognizing this, our document automation software is designed to seamlessly integrate with pre-existing workflows and loan origination systems, be it through direct API conduits or other integrations.

A prime example of how integrations unlock greater efficiency in the realm of commercial real estate (CRE) lending is our partnership with Blooma. Blooma, with its AI-driven platform, revolutionizes the way lenders assess loan applications, making the process faster and more intuitive. Ocrolus’ data standardization solution ensures the accuracy and consistency of data used in the process.

As a result, CRE lenders can create a more seamless and accelerated loan approval process by leveraging Blooma and Ocrolus in tandem, ultimately enhancing customer satisfaction and loyalty.

Download our Bridging the AI Gap in Lending whitepaper to learn more

Compliance and security

Beyond innovative solutions and streamlined processes, building and maintaining trust is vital to the financial industry. As regulatory oversight is tightening and security threats are evolving, customers need a solution that helps ensure compliance and safeguard data.

With this in mind, Ocrolus has taken active measures to partner with industry leaders in fraud prevention and compliance. For example, our advanced infrastructure has the capability to spot discrepancies and anomalies, such as altered bank statements, and – in conjunction with business partners like SentiLink – can also expose behavior indicative of synthetic identity.

Ocrolus also seamlessly integrates with Middesk, a leading provider of comprehensive verifications, legal checks, regulatory audits and industry classifications for B2B ventures.

Middesk’s background check and risk assessment capabilities help establish the credibility of a business, giving lenders added confidence and helping them avoid doing business with fictitious companies or those involved in illegal or harmful activity. By integrating with Middesk, Ocrolus’ financial services clients can easily access trusted data on the legitimacy, veracity and structure of their business customers.

In a nutshell, our partnerships are about providing an extra layer of assurance, ensuring our customers not only operate efficiently but confidently with trusted data and unprecedented speed.

The road ahead: co-creating the fintech future

As we look to the road ahead, the prospects of fintech seem limitless. The rapid pace of technological advancements, combined with ever-evolving financial requirements, paints a picture of a future that will constantly be in flux – emphasizing the importance of continued collaboration. 

At Ocrolus, we envision a future where strategic partnership isn’t just a strategy but a norm. A future where tech solutions are co-created by understanding the nuances of varied industries, ensuring that each solution is tailor-made and relevant.

Our collaborations with industry leaders like Plaid, Blooma, SentiLink and Middesk are just the beginning. As we move forward, we’ll continue to form partnerships that address the challenges and opportunities that arise in the fintech space.

Let’s transform the future of financial infrastructure together. Learn more about becoming a partner.

Key takeaways
  • Ocrolus emphasizes the importance of building strategic partnerships in the fintech ecosystem, such as with Plaid and Blooma, to address industry challenges. These collaborations enhance the accuracy, speed and comprehensiveness of services, particularly for lenders and property managers.
  • In an industry where trust is paramount, Ocrolus partners with entities like SentiLink and Middesk to ensure robust compliance and data security. This approach safeguards against fraudulent activities and provides an extra layer of assurance for clients.
  • The rapid changes in fintech underscore the need for continued collaboration. Ocrolus is dedicated to co-creating solutions tailored to industry nuances and envisions a future marked by deeper partnerships that address complex challenges in the fintech space.