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Home Press Releases Lendio Partners with Ocrolus to Automate Bank Statement Analysis
SILICON SLOPES, Utah, Sept. 14, 2017 — Lendio, the nation’s leading marketplace for small business loans, today announced a partnership with Ocrolus, the emerging leader in bank statement review automation. The PerfectAudit API, powered by Ocrolus, analyzes uploaded bank statements with 99+% accuracy, replacing manual review with automation. Ocrolus technology allows lenders, for the first time, to review every potential borrower’s bank statement data automatically, regardless of whether or not the borrower provides sensitive bank login credentials.
“Ocrolus technology elevated our bank statement analysis capabilities to the next level,” said Jim Granat, Lendio’s President and CRO. “We highly recommend PerfectAudit to lenders who wish to scale more efficiently and improve credit risk management.”
In April, Lendio became the first lending marketplace to integrate with Ocrolus, whose clients include banks, alternative lenders, accounting firms, law firms, and government entities. The PerfectAudit API gives Lendio the ability to systematically combat bank statement fraud and conduct a hyper-accurate review for every potential borrower.
“It’s truly a pleasure to be partnering with Lendio,” said Sam Bobley, CEO and Co-founder of Ocrolus. “We are inspired by Lendio’s company culture and impressive track record in small business lending.”
Speed is vital in the online lending industry. With Ocrolus technology, Lendio has whittled down its loan processing time to well under an hour with even greater accuracy. The partnership has already produced several updates to the technology as well, with improvements in speed, fraud detection, and overall function.
About OcrolusOcrolus is a technology company that automates the review of bank statements. The Company’s PerfectAudit platform analyzes statements from every financial institution with 99+% accuracy, generating account information, summary analytics, and a comprehensive database of transactions. Replacing one of the few remaining manual underwriting procedures with hyper-accurate automation, Ocrolus enables lenders to review bank statements faster, cheaper, and more accurately than ever before.
Additional information about Ocrolus is available at www.ocrolus.com.
Contact
Sam Bobley Ocrolus [email protected] 646.850.9090 Ext. 1
As a reporter and editor, Melanie has written about everything from retail and tourism trends to economic development for regional newspapers, trade publications, and national magazines. As Lendio’s Director of Public Relations, she specializes in reporting fintech industry news and its impact on American small businesses. Melanie has a B.A. in Journalism from Brigham Young University. She is also a backpacker, runner, and mom of four.
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