Ocrolus, a document AI platform that facilitates faster and more accurate lending decisions, has introduced Instant, its fully automated document processing offering, which returns insights in seconds.
Instant is an AI-powered service offering that empowers lenders to analyze bank statements and other financial documents more efficiently than ever before. The machine-only solution provides lenders with the data quality and analytics they have come to trust and expect from Ocrolus.
“Ocrolus has analyzed hundreds of millions of pages of financial documents, using AI working in tandem with human-in-the-loop data validation,” says Sam Bobley, co-founder and CEO of Ocrolus. “Thanks to our massive volume of training data, our automation capabilities have reached a point where we are thrilled to debut a machine-only offering with greater coverage and accuracy than any other software product in the market.”
Instant is offered as a complementary service to Ocrolus’ flagship Complete offering, which includes human data verification for lower quality documents. Instant and Complete can be used in tandem via the company’s web dashboard or API, simplifying and completely automating the document analysis process with over 99% accuracy.
Lenders using Instant can significantly decrease the cost of application processing. In addition, the machine-only solution includes Detect and Cash Flow Analytics to help lenders minimize fraud and credit risk.
