Ocrolus is an intelligent document processing automation solution with human-in-the-loop validation along every step of the process. As the best turnkey solution for the verification of income, identity, assets and employment, we help companies review and process millions of pages of financial documents every month. The Ocrolus solution can capture any field, on a broad set of document types – regardless of the format or quality – and transform it into decision-ready data, helping businesses process documents more accurately & quickly, saving money and time while enabling scale.
Founded in 1989, ABBYY is a provider of document conversion, data capture, and linguistic software and services. ABBYY does not offer human-in-the-loop verification; instead, the client is required to provide the human verification either in-house or through a third-party BPO vendor.
Ocrolus vs ABBYY at a glance
Ocrolus and ABBYY are both leading data extraction and document processing automation solutions. Digging deeper, there are significant differences that make Ocrolus stand out.
Top reasons why Ocrolus is the best ABBYY alternative
- Ocrolus is a fully automated platform with human-in-the-loop machine learning and is the only end-to-end document processing and automation solution with deep experience in lending and finance. We process bank statements and pay stubs for the verification of income, employment and assets with 99+% accuracy. ABBYY is an incomplete solution that provides ~80% accuracy and requires human validation and manual data entry of almost all financial documents.
- A key advantage of leveraging Ocrolus as your intelligent document processing and automation solution is our actionable analytics for lenders. Ocrolus generates 100+ decision-ready underwriting analytics that illuminate a borrower’s income and cash flow dynamics, empowering teams to manage risk, underwrite more broadly and make smarter decisions. ABBYY is designed to make your data entry operators more efficient, but does not provide analytics for faster, more informed decision making.
- For companies that are growing quickly and strapped for development resources, Ocrolus implementation is light. Unlike ABBYY, our single API solution doesn’t require a lengthy integration and extra investment in technical resources to get up and running. Instead it seamlessly plugs directly into your CRM, Loan Origination System (LOS), or other core systems.
- Ocrolus is available as an API call directly from your current applications.. ABBYY may be integrated with your current systems, but has a complex workflow and integration setup.