Document automation has become a critical technology for lenders in the digital age, offering added efficiency and accuracy throughout their workflows. With more than 1,150 supported document types, Ocrolus’ AI-powered document automation is continually setting the bar for our partners, offering unparalleled flexibility to meet lenders’ unique needs.
For lenders managing a mix of documents, Ocrolus’ Instant and Complete offerings for document processing can be used side-by-side based on each company’s specific needs on either the per document or entire loan book level. These tools enable lenders to streamline the loan application process, reduce costs and improve the accuracy and quickness of decision-making.
Ocrolus: A one-stop-shop for all document automation
With both fully-automated and Human-in-the-Loop (HitL) document automation, Ocrolus document automation technology gives lenders the flexibility to automate processes, regardless of document format or quality.
On one hand, Instant document processing is designed for speed and efficiency. As a machine-only automated offering, it is ideal for straightforward documents like bank statements, W2s and tax forms. It provides rapid, high-return processing that delivers data in seconds. This works in sync with the needs of many small business and consumer lenders.
For lower-quality documents or those with imperfect confidence, Complete document processing includes another layer of review through human verification. This HITL approach adds an important layer of precision to document analysis, which is especially valuable in low-quality document submissions.
Together, Instant and Complete document processing position Ocrolus as a one-stop shop for all document automation requirements, simplifying the document processing landscape for lenders and removing the need for multiple tools or extensive tech support. Lenders can instead focus on core business activities and customer service.
Enhancing efficiency and cost-effectiveness in lending with Ocrolus
Efficient, accurate loan processing is critical in the fast-paced financial services sector. Lenders, facing intense competition, are increasingly turning to document automation technology to enhance their operations. This shift accelerates loan processing and significantly improves the customer experience by reducing the friction associated with collecting applicant information.
Innovative offerings from Ocrolus stand out by creating flexible options for gathering bank data. Partnering with digital solutions like Plaid and facilitating easy document uploads, our tools ensure a seamless experience for both lenders and their customers. This flexibility is key in minimizing disruptions and maintaining a smooth application process.
With flexibility built into the Ocrolus platform, we give lenders the necessary tools to tailor their document processing workflows more efficiently. By automating the loan application process with precise and correct data, lenders can focus their attention on high-quality applications. This strategically streamlines operations and enhances cost-effectiveness, allowing lenders to allocate resources more effectively.
Streamlining document processing with a unified approach
Ocrolus offers seamless solutions for lenders managing a variety of document types. By integrating Instant and Complete through a single API or dashboard connection, lenders can leverage these services side-by-side. This unified approach simplifies the upload process by combining all document and data processing into a single, efficient solution.
The “one-stop-shop” strategy significantly boosts operational efficiency by equipping lenders to handle a diverse range of documents and scenarios with a single partner, helping them offer more tailored and responsive financial services.
Ocrolus is reshaping the world of intelligent document automation in the lending sector, providing unmatched flexibility to manage a broad spectrum of document types and processing demands.
By introducing automation and flexibility into the lending document workflow, Ocrolus provides the data and analysis lenders need to make more informed financial decisions while focusing more on the essential business operations and customer relationships to grow their business.
Experience the advantages firsthand and book a demo with Ocrolus today.
- Flexibility in document automation is key, enabling each lender to add efficiency and accuracy to their workflow in a way that fits their specific needs.
- Together, Ocrolus’ Instant and Complete processing services provide a one-stop-shop for all document automation needs, simplifying the process of classifying, capturing and analyzing document data in a single platform.
- With AI-powered document automation technology, lenders can make informed, confident decisions while providing customers with more tailored, responsive financial services.