Document and data analysis platform that aids financial services organizations in making high-quality judgments with reliable data, Ocrolus and Lendflow, an embedded credit platform for fintech firms. The partnership will help in quickly and accurately evaluating the potential of borrowers and deliver essential access to financing.
“Ocrolus has enabled us to drive efficiencies and automation at scale. 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 the financing they didn’t have before,” stated Jon Fry, CEO, and Co-founder of Lendflow.
Lendflow analyses data from documents such as bank statements, W-2s, and business tax returns using the document automation technology from Ocrolus and deliver important business insights such as revenue, daily balance, and more. Ocrolus provides insights regarding the borrowers’ cash flow and helps Lendflow to decide where in its lender network to send a loan application. Lendflow’s credit decisioning engine also makes advantage of the unique cash flow measurements offered by the document and data analysis platform, allowing lenders to quickly evaluate SMB credit applications.
John Forrester, SVP of Product at Ocrolus said, “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. Lendflow has really stepped in to enable every lender, fintech, or SaaS company serving SMBs to provide faster, easier, and cheaper access to credit.”