Capture data from utility bills to verify identity and address
Ocrolus’ Human-in-the-Loop document automation solution captures and classifies data from utility bills to speed up address verification and provide insights into borrower expenses.
Why should lenders use Ocrolus for utility bill data capture and form processing?
Utility bills arrive in different layouts and templates based on a borrower’s service provider. Manually extracting information and performing analysis can be tedious and time-consuming and result in high rates of human error. At the same time, template-based OCR technology struggles with service providers’ multiple formats. In these cases, delays can be common due to incorrect data entering.
Ocrolus’ automation solution lets you capture, review, and analyze utility bill data in real-time from multiple formats. This, in turn, helps you make more accurate lending decisions and expedites the loan process.
Advantages of Ocrolus’ automated utility bill processing
Retrieve data from utility bills regardless of format or quality
- Verify identities and addresses in minutes
- Reduce manual errors and get precise data
- Cut turnaround time
- Process multiple utility bills with high accuracy
- Reduce the risk of fraud
Ocrolus’ 2021 document processing stats
financial pages analyzed
documents flagged for suspicious activity
business loan applications analyzed