Google, IBM Rush to Sell Banks Cloud Software

With this product, the company is taking on mortgage origination software providers like Blend (which has 250 bank customers of its digital lending platform) and document-imaging and entity-extraction software like the popular Ocrolus, which many banks use to handle document…

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Ocrolus Introduces Cross Source Validation to Automate Corroboration of Borrower Information Accuracy

Cloud fintech infrastructure enables mortgage lenders to confirm borrower data extracted from multiple documents and permissioned accounts NEW YORK, October 20, 2020 — Ocrolus, the leading human-in-the-loop infrastructure company that transforms documents into actionable data, today introduced Cross Source Validation (XSV), a…

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Stepping Up the Fraud Prevention Game: An Interview with Sam Bobley, CEO of Ocrolus

Sam Bobley, CEO of New York-based fintech Ocrolus, recently spoke with The MORTGAGE BANKER Magazine about how lenders can reduce the likelihood of fraud through upgraded processes that catch fraud quicker and more seamlessly.

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Enabling the Enablers: What to Consider When Building Best-in-Class API-led Fintech Companies

Over the last five years, leading financial institutions have realized that APIs can help them deliver better products to existing users and acquire new users without having to rebuild core infrastructure or fix data silos across the organization. Non-bank customers…

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Virtual Classrooms in 2020 Means Working Parents Won’t Catch a Break

Vik Dua, chief operating officer at fintech company Ocrolus in the Financial District, is trusting his employees to organize their workloads and schedules around the best use of their time. “Family comes first here,” he said, noting that the company’s philosophy…

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How New York’s Fintech Startups Plan to Cash in on PPP Loan Spotlight

When small businesses grew frustrated in the spring with waiting in line for federal Paycheck Protection Program loans from JPMorgan Chase and Bank of America, some turned to digital lenders approved to originate the funds, such as Square and Cross River Bank. That provided an opportunity not…

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Tightening Auto Credit Slows Sales Rebound

Don’t blame lenders’ skittishness entirely on Covid-19, said David Snitkof, Vice President, Analytics at New York-based data analysis firm Ocrolus. He points out that delinquency rates for auto loans, measured by 90-day delinquencies, “are up to recession-era levels. That’s not all…

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The Fintech 250: The Top Fintech Companies Of 2020

CB Insights has unveiled the third annual Fintech 250 — a list of 250 of the top private fintech companies using technology to transform financial services. The 2020 Fintech 250 cohort has raised approximately $49.2B in aggregate funding across nearly…

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‘Super Sellers’ Housing Market Raises Fraud Risk to 13-Month High

“With a sharp increase in fully online transactions, lenders need to be more proactive than ever when it comes to fighting fraud,” Sam Bobley, CEO of Ocrolus, said in a statement to NMN. “The good news is that lenders can…

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Rooting Out Racism in AI Systems — There’s No Time to Lose

“Even if an algorithm itself is unbiased, that does not mean it couldn’t be used in unethical ways,” said David Snitkof, vice president of analytics at Ocrolus, which is developing AI for loan underwriting. For example, if a lender were…

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