NEW YORK, May 6, 2019 / PRNewswire / – Ocrolus, the industry leader in data verification and cash flow analysis, today announced a partnership with inFactor, the innovative financing platform that brings clarity and security to financing small companies. This partnership combines two powerful technology solutions to automate end-to-end underwriting for Merchant Cash Advance (MCA) lenders.
Ocrolus is a fintech infrastructure platform that analyzes financial documents quickly and accurately. Using artificial intelligence and participatory validation, Ocrolus transforms electronic statements, scans and cell phone images of any quality into digital data that is over 99% accurate. Results are generated in minutes.
inFactor enables financial companies to manage the entire life cycle of small business loans and cash advances. Starting with montages, the platform securely connects to verified sources of small business data, such as credit reporting services and bank account data. inFactor also streamlines the service and provides an unmatched level of data integrity in payment reports, with the platform handling every transaction in real time.
Ocrolus bank statement analysis is now an integrated component of the inFactor loan origination and management solution. By leveraging the Ocrolus API, inFactor eliminates the need for its clients to enter data and manually assess borrower cash flows. This technological partnership enables the creators of MCA to speed up application processing times, reduce costs, improve data integrity and fight fraud.
“We are delighted to partner with Ocrolus by adding its cutting edge technology to our global platform,” inFactor co-founder Ethan Schwarzbach mentionned. “InFactor and Ocrolus share the same goals in that we both aim to help our initiator clients grow their businesses. This partnership helps drive these initiatives forward by adding another element of automation to the underwriting process, simultaneously increasing the speed of decision making while reducing operational expenses.
“This partnership with inFactor underscores our mutual desire to bring greater automation and transparency to the merchant cash advance space,” said Elliot Floor, who oversees partnerships at Ocrolus. “We look forward to working with inFactor to provide a one-stop-shop for MCA lenders to effectively grow their businesses. “
Based in New York City, Ocrolus is a fintech infrastructure platform that automates the analysis of digital documents and financial data. By eliminating manual review, Ocrolus enables companies to reinvest human capital and automate processes with industry-leading speed and precision.
Ocrolus serves hundreds of clients in the financial industry and analyzes millions of transactions every day with over 99% accuracy. The company raised $ 10 million so far and is backed by Bullpen Capital and QED Investors, among others.
Visit www.ocrolus.com for more information.
inFactor is a financial technology company focused on the clarity and security of small business financing. Through the inFactor platform, the company has developed the first Secure Finance ™ Ecosystem that enables finance companies to manage the entire life cycle of loans and cash advances to small businesses across United States of America. The platform provides all the tools an underwriter needs to make financing decisions and pricing quickly and efficiently. The inFactor platform also streamlines the service and delivers an unmatched level of data integrity in payment reports, as the platform manages every transaction in real time.
Visit www.infactor.com for more information.
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