altbanq leverages Ocrolus’ AI-powered analytics to increase underwriter productivity and reduce fraud risk
Business Lending | Analyze & Detect
Founded in 2014, altbanq provides access to capital for small and medium-sized businesses, helping them scale with fast, flexible financing solutions. With a mission to deliver capital quickly and responsibly, the company needed a solution to scale its underwriting operations without sacrificing accuracy or quality.
By partnering with Ocrolus, an AI-powered data and analytics platform, altbanq transformed its underwriting process, delivering faster credit decisions, improved fraud detection and significantly increase productivity.
Challenge
altbanq needed a faster, more scalable way to review bank statements and detect fraud across a growing volume of applications.
Solution
altbanq leverages a seamless API integration with Ocrolus’ internal dashboard to automate cash flow analysis and strengthen fraud detection— streamlining underwriting with real-time, accurate insights.
Result
Underwriters can now handle more applications in less time, increasing team productivity and improving the speed and consistency of credit decisions.
Challenge
Before Ocrolus, altbanq’s underwriting team reviewed bank statements one deal at a time. This slow, labor-intensive process created bottlenecks and constrained the company’s ability to scale.
“Before using Ocrolus, we would do a manual review of these bank statements where an underwriter would be tied down to one opportunity at a time,” said Steve Hauptman, Chief Revenue Officer at altbanq.
As application volumes grew, so did the risk of fraud. Traditional review methods struggled to keep up with increasingly sophisticated fraud attempts, posing risks to lending confidence and financial security.
Solution
To streamline underwriting and enhance fraud detection capabilities, altbanq integrated Ocrolus directly into its workflow through an API connection and dashboard. Hauptman noted, "Ocrolus truly plugs right into our systems, making our entire submission and underwriting processes seamless."
Ocrolus’ advanced AI-powered analytics provided comprehensive cash flow analysis, empowering altbanq to ensure responsible lending by offering loans genuinely supportive of client growth. The platform’s fraud detection technology significantly enhanced the accuracy and safety of loan approvals. Hauptman emphasized the effectiveness of Ocrolus’ AI-powered analytics, describing it as "truly powerful and helpful in providing the best possible approval for our clients, ensuring we help them grow their business responsibly."
Result
Partnering with Ocrolus brought immediate and sustained improvement in underwriting efficiency. Underwriters began reviewing multiple deals at once, increasing daily productivity and reducing processing times.
Hauptman highlighted the productivity gains, stating, "We can now review multiple deals at a time and have substantially higher output from our underwriting team. It's impressive to see daily how many deals we can efficiently process."
The benefits include:
- Enhanced underwriting speed and efficiency
- Increased daily productivity per underwriter
- Strengthened fraud detection and reduced risk
Why altbanq recommends Ocrolus
altbanq values Ocrolus as an essential partner in its mission to deliver fast, reliable capital to small businesses. Ocrolus’ proactive approach and receptiveness to innovation allow altbanq to remain forward-thinking, continually adopting new technologies to stay ahead of the industry.
Hauptman reflects on the partnership, stating, “ Ocrolus empowers us to do what we do best– providing capital for small businesses.”
The analytics we receive from Ocrolus make the underwriting process seamless, and we get credit decisions in significantly less time.”