Ocrolus and Envestnet | Yodlee form a strategic partnership

Thanks to this strategic partnership, Ocrolus will embed its advanced document automation capabilities into the Envestnet | Yodlee data aggregation and analytics platform. This will enable Envestnet | Yodlee’s customers to collect financial data from uploaded documents such as bank and income statements to supplement data from digital sources.

Ocrolus, an Intelligent Document Processing (IDP) vendor, announced March 5 a strategic partnership with data aggregation and analytics platform Envestnet | Yodlee. Together, they aim to enhance financial statement upload capabilities.

Arun Anur, Chief Operating Officer of Envestnet | Yodlee, explained: “Our partnership with Ocrolus enables us to broaden our capabilities and deliver on our commitment to help bank and tech customers achieve financial wellness, through accessing the tools they need from financial institutions, enterprise technology companies, wealth management financial advisor relationships, and credit lending providers. With added document automation capabilities, Envestnet | Yodlee will improve and streamline the onboarding process for credit and lending use cases.”

Sam Bobley, Co-founder and CEO of Ocrolus, commented: “While the financial services industry has undergone significant digital transformation, documents are still a critical source of data. We are thrilled to partner with Envestnet | Yodlee to provide a more comprehensive and smoother customer experience across a variety of financial services use cases.”

Last September, Ocrolus launched an enhanced dashboard that enables mortgage lenders to automate much of their workflow, including income calculations for traditional and self-employed borrowers, to make faster and more accurate lending decisions.

Headquartered in New York, Ocrolus is a document AI platform that enables faster and more accurate financial decision-making by analyzing documents with over 99% accuracy, regardless of format or quality, supporting hundreds of document types including bank statements, pay stubs, and tax forms.

You can find the full press release here.

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