customer stories
Haventree Bank cuts bank statement review time 67% with Ocrolus
Customer Stories
Haventree Bank cuts bank statement review time 67% with Ocrolus
Mortgage | Analyze and Detect
Haventree Bank is a Schedule I bank specializing in alternative residential mortgage lending, helping non-traditional borrowers access financing through prudent underwriting and risk management. As loan volumes grew, its underwriting team needed a scalable approach to bank statement income analysis.
Haventree Bank turned to Ocrolus, a vertical AI workflow and analytics platform for lenders, to automate income analysis and scale through volume without adding headcount.
Challenge
Haventree Bank's underwriting team manually transferred bank statement data into Excel calculators, a process that consumed up to three hours per file and limited the team's ability to scale through volume spikes without adding headcount.
Solution
Ocrolus automated bank statement income analysis and fraud detection for Haventree Bank, giving its underwriting team a structured platform to categorize and calculate income, and verify document authenticity in a fraction of the time.
Result
• 33% more bank statements reviewed per file, 3x faster: full 12-month review completed in under one hour
• Minimal manual intervention: edge cases requiring manual income determination are rare, freeing underwriters to focus on higher-value analysis
• No headcount added: managed increased loan volume through automation, not staffing
• Faster fraud detection: inauthentic bank statements flagged faster with Detect
Challenge: Manual data entry consumed hours before every credit decision
Before Ocrolus, Haventree Bank's underwriting team relied on a fully manual process for bank statement income analysis. Each file required manually transferring data from physical statements into an Excel-based income calculator to determine qualifying income.
"It was very manual before," said Natalie Dixon, AVP of Mortgage Originations at Haventree Bank. "We were transporting all of the information from the physical bank statements into a spreadsheet and using an Excel version of a calculator... So it was a very timely and onerous process."
Depending on file size, a single file could take up to three hours.
Solution: Automated income analysis shifts the team from data entry to analysis
With Ocrolus, Haventree Bank's underwriting team now uses automated bank statement analysis to capture and categorize transaction data without manual transcription, giving underwriters a structured output to review rather than PDFs to manually mine.
The shift changed how the team spends its time. "Now we're spending more time analyzing the information... So we have time to make sure that we're capturing everything," Dixon said.
The platform's Detect feature adds a fraud detection layer, helping the team flag potentially inauthentic bank statements before they reach the credit decision stage. "It helps us identify [inauthentic] bank statements a lot faster, so we could do some extra due diligence on them and pivot from there if need be," Dixon said.
Result: Faster reviews, more consistent coverage and room to scale
Since adopting Ocrolus, Haventree Bank has cut bank statement review time by 67%. Depending on file size, what once took up to three hours now takes less than one, and the team now reviews a consistent 12 months of statements where before the practice varied between 9 and 12.
"Cutting bank statement review time down to between 30 minutes and an hour is a great savings for us," Dixon said.
Accuracy has also improved. By removing manual transcription, the platform captures deposits more consistently. "The Ocrolus system captures the information accurately," Dixon said. "I haven't seen any use cases where it said something's a deposit where it's not."
The efficiency gains have given Haventree Bank flexibility to manage volume fluctuations without growing its team. "[The automation] helps us manage the increased loan volumes without necessarily increasing headcount," Dixon said. "We've been able to scale a bit, which is always a good thing."
Key outcomes:
- 33% more bank statements reviewed per file, 3x faster: full 12-month review completed in under one hour
- Minimal manual intervention: edge cases requiring manual income determination are rare, freeing underwriters to focus on higher-value analysis
- No headcount added: managed increased loan volume through automation, not staffing
- Faster fraud detection: inauthentic bank statements flagged faster with Detect
Why Haventree Bank recommends Ocrolus
For Dixon, the case for Ocrolus goes beyond what it saves on each file.
"Lenders should look beyond the automation itself and consider the operational impact AI has," she said, "because it did create a lot of efficiency gains with us here at Haventree."
As a Canadian lender working with a U.S.-based vendor, Haventree Bank has also valued Ocrolus's willingness to adapt. Minor terminology differences between Canadian and U.S. mortgage conventions were addressed through hands-on support from the Ocrolus account team, who trained the bank's underwriters on how to get the most from the platform within Canadian workflows. That responsiveness has kept the relationship strong since 2019. "Our relationship has grown a lot stronger and we're doing a lot more collaboration," she said.
“With Ocrolus, our bank statement review is consistent, accurate and three times faster. Cutting it down to 30 minutes to an hour is a great savings for us.”
Natalie Dixon, AVP of Mortgage Originations at Haventree Bank
