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Last Updated : Apr 17, 2019 06:38 PM IST | Source:

BlueVine leverages Ocrolus for faster processing of financing applications

BlueVine will leverage Ocrolus technology to accelerate growth and scale operations efficiently.

Moneycontrol News @moneycontrolcom

Ocrolus, an emerging fintech company in data verification and cash-flow analytics, announced partnership with BlueVine, provider of online working capital financing to small and medium-sized business lenders. BlueVine leverages Ocrolus technology to accelerate growth and scale operations efficiently, creating a faster and more seamless experience for its customers.

Ocrolus is a scalable fintech infrastructure platform that analyzes financial documents with speed and precision. Using artificial intelligence and crowdsourced validation, Ocrolus transforms e-statements, scans and cell phone images, regardless of quality, into 99+ percent accurate digital data. Results are generated in minutes.

BlueVine has provided over USD 1 billion in working capital financing to small and medium-sized businesses since its inception. The fintech pioneer uses proprietary AI and machine learning solutions to analyze thousands of data points, providing accurate financing decisions for clients in as little as 10 minutes.

After significant growth and USD 72 million in Series E funding, BlueVine partnered with Ocrolus to quickly scale up its underwriting operation. Working in conjunction with BlueVine's proprietary risk automation solutions, Ocrolus helps digitize applicant bank statements which are then analyzed by BlueVine's risk models, leading to even faster loan decisioning times and a more frictionless customer experience.
First Published on Apr 17, 2019 06:38 pm
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