Ocrolus Closes its Best Month in Company History Based on Strong Demand for Lending Automation

 Ocrolus, a leader in AI-driven document automation for faster and more accurate lending decisions, closed its quarter ending with its strongest month for new business in company history. The company experienced record growth and substantial momentum for 2023, adding 20 new customers in 45 days.

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New customer commitments with Ocrolus include small business, mortgage, consumer and auto lenders, as well as technology partners in proptech and income verification. Among the new customers onboarding Ocrolus for document automation and analysis are innovative companies such as BSI Financial, Bluepoint Mortgage, Cion Digital, City Lending, Greenbox L****, Integra Auto, Kuboon, Lentegrity, NTropy, Truv, and many more. The company’s growth amid a slowing market is indicative of significant opportunity and growing demand in the financial services sector for scalable solutions that automate workflows, manage credit risk and detect fraud.

Ocrolus’ growth is driven by leading lenders who are investing in automation to prepare and enable scalability for an eventual market uptick. While areas of the market may be slow, financial services organizations still need to invest in technology to automate and improve their lending decision-making processes for long-term success.

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“We built strong momentum in Q1 with a flurry of new customer deals across a variety of use cases for Ocrolus,” said Sam Bobley, co-founder and CEO of Ocrolus. “Ocrolus is shipping out new products faster than ever, helping many different types of lenders reduce fixed costs and make more precise decisions.”

Ocrolus’ latest customers join other leading lenders and companies, including PayPal, Plaid, Enova, Bluevine and SoFi, that utilize Ocrolus technology to automate and improve the accuracy, efficiency and fraud detection of financial document analysis that guides high-quality lending decisions for their organizations

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