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Ocrolus and Blend Enter into a Partnership to Automate End-to-End Mortgage Process
Fremont, CA: Fintech, an abbreviation for financial technology, is the buzzword in business. It has impacted the financial industry significantly, transforming sectors varying from banking to financial advisory services.
Ocrolus, an automation platform that analyses financial documents with greater than 99 percent accuracy, and Blend, a leader in cloud banking software, a strategic partnership in which Ocrolus' Human-in-the-Loop (HITL) document analysis solution will be embedded within the Blend platform to boost digital mortgage applications.
Ocrolus' collaboration with Blend will initially focus on document automation, initially on classifying documents as well as capturing data for mortgage applications, but may eventually expand into other business areas.
"Blend is a clear industry leader in cloud banking with a best-in-class user journey for consumers," remarked Sam Bobley, Co-founder & CEO at Ocrolus. "At Ocrolus, we're hyper-focused on API-based document automation for lenders, a backend service that perfectly complements Blend's powerful platform."
The collaboration is a significant step forward in Blend's larger mission to streamline and completely automate all aspects of loan origination. Ocrolus' verticalized financial services expertise in the mortgage, consumer, and small business lending makes it an ideal long-term embedded technology for the Blend platform.