Ocrolus helps Lendflow customers make smarter, faster lending decisions
NEW YORK, Aug. 15, 2022 /PRNewswire/ -- Ocrolus, the document and data analysis platform that helps financial services companies make high-quality decisions with trusted data, today announced it is working with Lendflow to quickly and accurately determine the viability of borrowers and provide critical access to capital.
Lendflow, a leader in embedded SMB lending, is leveraging Ocrolus' document automation technology to analyze data from documents—such as bank statements, W-2s, and business tax returns—and provide critical insight into a business' revenue, daily balances, and more. Ocrolus provides Lendflow with insights into a borrower's cash flow to determine where a loan application should be routed within its lender network. Lendflow also uses individual cash flow metrics provided by Ocrolus in its credit decisioning engine, which enables lenders to efficiently process SMB credit applications.
Lendflow taps Ocrolus to quickly and accurately determine the viability of borrowers and provide access to capital.
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"In a challenging economic environment with rising interest rates, small businesses are finding it difficult to access credit from traditional financial institutions that are tightening lending criteria in an effort to mitigate risk," said John Forrester, SVP of Product at Ocrolus. "Lendflow has really stepped in to enable every lender, fintech or SaaS company serving SMBs to provide faster, easier, and cheaper access to credit."
"Ocrolus has enabled us to drive efficiencies and automation at scale," said Jon Fry, CEO and Co-founder of Lendflow. "With Ocrolus, our customers can launch new credit products and get to market quickly, as cash flow analysis is at the core of the decisioning process. In turn, they can help their SMB customers with seamless and faster access to financing they didn't have before."
Industry leaders, like Lendflow, are increasingly turning to Ocrolus to power better, faster lending decisions through AI-powered automation. Ocrolus has more than 200 customers across small, midmarket, and enterprise segments and added over 40 new customers in the first half of 2022. The company processes more than 200,000 small business loan applications every month.
To learn more about how Lendflow and Ocrolus are digitizing SMB lending, register for the fireside chat on Wednesday, August 17 at 1pm ET.
About Ocrolus
Ocrolus is a document automation platform that powers the digital lending ecosystem, automating credit decisions across small business, mortgage, and consumer lending. Ocrolus enables financial services firms to make high quality decisions with trusted data and detect fraud with unparalleled efficiency. The company has raised over $100 million from blue-chip fintech investors. Visit ocrolus.com to learn more.
About Lendflow
Lendflow is a technology leader that provides embedded credit infrastructure for fintechs, lenders and vertical SaaS platforms to build, embed and launch credit products. Lendflow combines a powerful decisioning engine that includes data aggregation, decisioning, monitoring and scoring with a robust marketplace of specialized lenders and contextually embedded product placements. With Lendflow, fintechs can launch credit products in days, SaaS companies can increase customer engagement and retention with embedded credit, lenders can expand their reach to qualified SMBs and SMBs can quickly access capital to power their growth.
SOURCE Ocrolus, Inc.