Ocrolus’ advanced dashboard enables mortgage lenders to automate much of their workflow, including income calculations for both traditional and self-employed borrowers, to make faster and more accurate lending decisions.
Ocrolus, an Intelligent Document Processing (IDP) provider accelerating the digital lending ecosystem with its AI-driven document automation platform, announced September 26 the launch of an enhanced dashboard for mortgage lenders. The solution combines three key capabilities (classify, capture and analyze) into one product, specifically for the mortgage industry.
Ocrolus’ mortgage offering provides three key capabilities to improve workflows: classify, which enables lenders to accelerate processing time with automated document indexing; capture, which combines AI computer vision and human validation to extract key information from documents with over 99% accuracy; and analyze, which enables lenders to streamline income calculations for both traditional and self-employed borrowers with automated, transparent and flexible worksheets.
Vik Dua, Chief Operating Officer of Ocrolus, said: “Manual document processing and income analysis create a bottle neck in the origination process. With Ocrolus’ enhanced mortgage offering, we’re empowering lenders with accurate document analysis to help reduce processing time, mitigate risk and maximize profit margin on every single loan. We provide lenders with a highly flexible and scalable back office so they can focus on their core business.”
A month ago, the Intelligent Document Processing provider launched Instant, a machine-only offering that leverages its AI-driven automation technology to provide an unbundled, machine-only solution that helps small business lenders save time and money.
Headquartered in New York, Ocrolus provides an AI-driven document automation platform that powers the digital lending ecosystem and streamlines credit decisions across small business, mortgage and consumer lending. By empowering lenders to automate financial analysis, Ocrolus helps borrowers access credit faster and on better terms.
You can find the full press release here.
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