According to the IDP provider, the record growth is due to lenders investing in automation to prepare and enable scalability for an eventual market upturn. New customers include small business, mortgage, consumer and auto lenders, as well as technology partners in proptech and income verification.
Ocrolus, an AI-driven document automation platform accelerating the digital lending ecosystem, announced May 10 that it has closed Q1 with its strongest month for new business in company history, adding 20 new customers. Among the new customers are innovative companies such as BSI Financial, Bluepoint Mortgage, Cion Digital and City Lending.
In a slowing market, Ocrolus sees its recent growth as a sign of significant opportunity and growing demand in the financial services sector for scalable solutions that automate workflows, manage credit risk and detect fraud.
Sam Bobley, co-founder and CEO of Ocrolus, stated: “We built strong momentum in Q1 with a flurry of new customer deals across a variety of use cases for Ocrolus. Ocrolus is shipping out new products faster than ever, helping many different types of lenders reduce fixed costs and make more precise decisions.”
Headquartered in New York, Ocrolus provides an AI-driven document automation platform that powers the digital lending ecosystem and streamlines credit decisions across small business, mortgage and consumer lending. By empowering lenders to automate financial analysis, Ocrolus helps borrowers access credit faster and on better terms.
You can find the full press release here.
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