Ocrolus

Tool Introduction

Ocrolus is a fintech platform that uses AI to automate document processing for financial services, focusing on digital lending. It helps lenders extract, validate, and analyze data from financial documents like bank statements and tax forms. The service supports faster credit decisions while lowering risk and operational costs. Ocrolus blends machine learning with human review for high accuracy and handles both structured and unstructured documents. More than 400 institutions rely on it across small business, mortgage, and consumer lending.

Demo Available?

Ocrolus offers a free trial with instant signup and 100 pages of processing plus sales demos upon request.

Tool's Accuracy

Ocrolus reports over 99% accuracy in converting documents to data using human-in-the-loop validation. This applies to financial documents like bank statements, pay stubs, invoices, and tax forms

Aggregate Rating

4.9/5 stars (estimated from informal sources and limited reviews)

Detailed Overview

Ocrolus automates financial document workflows with high accuracy using AI plus human verification.

What Ocrolus Does

Ocrolus automates the full process of handling financial documents. It classifies files by type, extracts key data points using AI and human review, analyzes income and cash flow metrics, and detects fraud patterns. The platform supports multiple formats including low-quality scans. Users can access results via a web dashboard or integrate through APIs into existing systems.

Who Ocrolus is for

Ocrolus serves banks, fintechs, credit unions, and mortgage companies. Loan officers use it to speed approvals. Risk teams apply it for fraud checks. Tech teams embed it into platforms. It's ideal for institutions managing large loan volumes or working with diverse borrower profiles.

Top Differentiators

Combines AI with human checks for over 99% accuracy.
Handles many document types including poor-quality scans.
Scales to nearly one million credit applications monthly.
Built-in fraud detection tools.
Supports non-traditional borrowers with varied income sources.

Introductory Video

Founding Year

2014

Target Industry

B2B, Small Business Lending, Mortgage Lending, Consumer Lending, Financial Services, Banking

Available Integrations

Encompass by ICE Mortgage Technology: Embeds Ocrolus into the loan origination workflow to automate document indexing and income analytics directly within Encompass.
Plaid: Connects borrower bank accounts through Ocrolus Widget for instant access to digital financial data, reducing manual document collection.
UiPath: Links Ocrolus with robotic process automation to streamline repetitive document tasks in enterprise workflows.
Automation Anywhere: Connects AI-powered analysis from Ocrolus with business apps to support full document-driven process automation.
LendingFront: Embeds Ocrolus in its lending platform for streamlined intake, underwriting, and decisioning in small business lending.
Noble: Integrates with Ocrolus to enable automated policy workflows using a no-code engine for credit and risk teams.
Unqork: Uses Ocrolus for automating document processing inside custom enterprise applications built on a no-code platform.
Oscilar: Supports real-time data analysis and risk mitigation by integrating with Ocrolus for income and employment verification use cases.
APIs and Webhooks: Allow organizations to build custom connectors between Ocrolus and internal or third-party systems.

Plans & Pricing

Free Trial: Includes up to 100 pages of document processing over two weeks. Covers bank statements, cash flow analytics, identification, income, tax forms, and other supported documents. Accessible via dashboard, API, or integrations. No seat limits. No credit card required.

Paid Plans: Provide access to all Ocrolus features and document types beyond the trial. Pricing is flexible and depends on document type, extraction needs, volume, and contract terms. Users can choose on-demand or volume commitment models.

User Access: Unlimited users allowed once the API is set up. Pricing is based solely on document volume processed.

Blank Pages: Included in pricing and analyzed for fraud detection.

Features & Specs

Document Classification: Automatically sorts documents like pay stubs or tax returns by type.
Data Extraction: Extracts structured data from scanned or digital files using AI plus human review.
Income Analysis: Calculates income from multiple sources; useful for self-employed applicants or co-borrowers.
Cash Flow Analytics: Assesses cash flow patterns to support underwriting decisions.
Fraud Detection: Identifies anomalies in submitted documents through analytics-based detection tools.
API & SDK Availability: Offers APIs to connect directly with lender platforms.
Dashboard Interface: Web interface available for manual reviews and workflow management.
Audit Trails: Logs every step of document processing to support compliance needs.
Customizable Workflows: Tailor processes to match specific lender requirements.
Multi-language Support: Accepts documents in several languages.
Performance: Processes close to one million applications per month; built for scale.
Supported Formats: Works with PDFs, images (JPEG/PNG), scanned docs—structured or unstructured alike.
Accuracy: Achieves over 99% extraction accuracy due to hybrid automation approach.
Scalability: Suitable for enterprise-scale operations across diverse lending segments.

Security & Compliance

Data is processed in compliance with U.S. regulations. Ocrolus encrypts data in transit and at rest using industry-standard methods. Some industry materials reference SOC 2 compliance.

Industry Use-Cases

Small Business Lending

Ocrolus helps lenders automate bank statement analysis to reduce loan processing time and improve credit decision accuracy. Its fraud detection flags tampered documents, helping reduce risk and regulatory exposure.

Mortgage Lending

Ocrolus automates income calculations for self-employed or non-traditional borrowers, supporting faster approvals. It also handles high application volumes by integrating into loan origination systems, boosting efficiency.

Consumer Lending

Ocrolus extracts and verifies applicant data at scale, helping lenders process thousands of personal loan applications quickly. It also validates documents for KYC and AML compliance with less manual effort.

Tool's Alternatives

Hyperscience
Focuses on intelligent document processing using advanced machine learning. It handles handwriting and complex forms with minimal manual input but may require more setup than Ocrolus.

Alloy
Delivers identity verification with deep KYC integration. While it includes data extraction, its main focus is real-time risk assessment rather than end-to-end document automation.

Automation Anywhere IQ Bot
Provides AI-based document processing within an RPA suite. Best suited for enterprises needing broader automation, though deployment can be complex compared to standalone tools.

ABBYY FlexiCapture

Frequently Asked Questions

What types of documents does Ocrolus support?
Ocrolus processes PDFs, JPEGs, PNGs, and scanned files, including low-quality or unstructured documents like bank statements, pay stubs, and tax returns.

How accurate is Ocrolus in data extraction?
Ocrolus achieves over 99% accuracy by combining machine learning with human review across structured and unstructured financial documents.

Does Ocrolus offer a free trial for new users?
Yes. The free trial includes up to 100 pages over two weeks and covers core document types without seat limits or credit card requirements.

Can Ocrolus integrate into existing lending platforms?
Yes. Ocrolus offers APIs and SDKs for integration and connects with platforms like Encompass, Plaid, LendingFront, UiPath, and Unqork.

Who typically uses Ocrolus in financial institutions?
Loan officers use it for faster approvals; risk teams check for fraud; tech teams embed it into systems to scale workflows.

What analytics capabilities does the platform provide?
Ocrolus analyzes income from multiple sources, tracks cash flow patterns, and flags anomalies for fraud detection to aid underwriting decisions.

Is there a user limit on paid plans or the API setup?
No. Paid plans allow unlimited users once the API is configured; pricing depends only on document volume processed.

How does Ocrolus support compliance in document handling?
It maintains audit trails for every step in processing and encrypts data at rest and in transit following U.S. regulatory standards.

Which lending sectors benefit most from using Ocrolus?
The platform supports small business, mortgage, and consumer lending by automating intake, verification, income analysis, and fraud detection at scale.

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