Capture information from financial documents with unparalleled accuracy using data extraction tools from Ocrolus. Ocrolus transforms documents of any format into contextualized, structured data to inform lending decisions.
Ocrolus processes every document with over 99% accuracy thanks to our Human-in-the-Loop approach to document capture. Our system intelligently selects the extraction or OCR tool, which results in the highest raw accuracy, then layers in proprietary pattern recognition and machine learning models. Data fields that cannot be automatically confirmed are then routed through a unique machine and human quality control workflow.
Step one: Best-in-class data extraction with Optical Character Recognition and Other Advanced Parsers
Optical Character Recognition (OCR) has been around for many years and has reached a ceiling in terms of accuracy. Rather than trying to reinvent the wheel, Ocrolus leverages a library of extraction and OCR tools, automatically selecting the most effective data extraction technology based on the submitted document type.
Step two: Machine contextualization and localization
Going beyond data extraction, Ocrolus technology uses proprietary machine learning and pattern recognition to localize each key element of a financial document and label it with the proper context. Our document capture automation software is fine-tuned for unstructured and semi-structured documents, identifying the data needed to make lending decisions without the need to rely on templates or complex pre-configuration.
Step three: Comprehensive quality control
Whereas many companies offer Business Process Outsourcing (BPO) data cleanup, Ocrolus is a pioneer when it comes to marrying machines and humans for data extraction and verification. Our IP is carefully designed to trigger human validation steps strictly on an as-needed basis, with built-in algorithmic checks eliminate the possibility of human error.
Step four: Accurate, structured output
Ocrolus returns accurate and clean data in a highly structured format, regardless of the original document source or quality during document capture. Whether a statement came from a top-5 bank or small credit union, the output schema will always be identical, allowing for seamless and reliable integration of trusted data.
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We're enhancing the Blend platform with Ocrolus' automated, accurate document classification and data extraction capabilities. Our partnership with Ocrolus enables us to swiftly deliver time-saving innovations to our customers.”