NEW YORK, Nov. 8, 2021 /PRNewswire/ -- Ocrolus, the only automation platform that analyzes financial documents with over 99 percent accuracy, and Blend (NYSE: BLND), a leader in cloud banking software, today announced a strategic partnership which will embed Ocrolus' Human-in-the-Loop (HITL) document analysis solution within the Blend platform to accelerate digital mortgage applications.
"Blend is simplifying and streamlining the lending experience for consumers and bankers alike," said Jeff Braddock, manager of business development at Blend. "We're enhancing the Blend platform with Ocrolus' automated, accurate document classification and data extraction capabilities. Our partnership with Ocrolus enables us to swiftly deliver time-saving innovations to our customers."
Ocrolus' partnership with Blend will focus on document automation, initially on classifying documents and capturing data for mortgage applications and potentially extending into other business areas in the future.
"Blend is a clear industry leader in cloud banking with a best-in-class user journey for consumers," said 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 partnership represents a notable milestone in Blend's broader mission to streamline and fully automate all aspects of loan originations. Ocrolus' verticalized financial services expertise in the areas of mortgage, consumer, and small business lending, serves as an ideal embedded technology for the Blend platform long-term.
Blend's cloud banking platform is designed to power the end-to-end consumer journey for any banking product, from application to close. Our technology is used by Wells Fargo, U.S. Bank, and over 310 other financial services firms to acquire more customers, increase productivity, and deepen relationships. Through our software, we enable our customers to process an average of more than $5 billion in loans per day, helping consumers get into homes and gain access to the capital they need to lead better lives. To learn more, visit blend.com.
Ocrolus is a document automation platform that powers the digital lending ecosystem, automating credit decisions across fintech, mortgage, and banking. The company provides modern document analysis infrastructure and has raised over $100 million from blue-chip fintech investors. Ocrolus enables financial services firms to make high quality decisions with trusted data and unparalleled efficiency. Visit ocrolus.com to learn more.
SOURCE Ocrolus, Inc.