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.
Instabase is a horizontal application platform that provides a suite of software tools that enables enterprises to build and consume business applications.
Why pay more for a toolkit instead of deploying a complete solution for loan underwriting? To lenders, here’s why you want Ocrolus over Instabase: We have over 100 lenders using the Ocrolus platform to automate the verification of a borrower’s ability to repay a loan and industry-leading cash flow analytics. Instabase is a toolkit used in many industries.
Ocrolus vs Instabase at a glance
Ocrolus and Instabase are both leading document processing and automation solutions for financial documents. Digging deeper, there are significant differences that make Ocrolus stand out.
Top reasons why Ocrolus is the best Instabase alternative
- Ocrolus is a fully automated platform with Human-in-the-Loop machine learning and is the only document processing and automation solution with deep experience in lending and finance. Instabase is not a complete solution with automation across the workflow and is more similar to a traditional OCR offering that requires development to implement a fully customized document workflow.
- Instabase provides toolkits and building blocks to create workflows. Unlike Ocrolus, users need to use their own data to train Instabase’s models. Ocrolus provides this immediately to its customers. There is no “cold start” working with Ocrolus. You get results right away. By using data points from its robust lender network, The Ocrolus Machine Learning Networks provides aggregate data across the Ocrolus client base, continuously improving performance across the whole.
- With Instabase, the customer provides the humans to correct the data outside of the loop. In other words, you can build a custom solution with Instabase that makes data entry more efficient, but this is not a strategic solution. Ocrolus includes human labeling and validation as part of our solution.
- Instabase helps financial services companies build a custom solution to extract data from documents. Ocrolus verifies that the data is actionable, and provides 100+ analytics insights that give your financial data context. Additionally, lenders can focus on their core business with Ocrolus instead of building a custom OCR system with Instabase.
Now we process over 90 percent of our loan applications within 30 minutes.”