Ocrolus
AI-powered financial document processing platform specializing in mortgage lending automation and credit risk analysis workflows.
Overview
Ocrolus is a New York-based fintech company that provides AI-powered document processing solutions for financial services. Founded in 2014, the company has evolved from document processing into lending infrastructure, serving 175+ funders including Square, PayPal, and Bluevine and processing over 15 million applications since 2016.
In 2024, Ocrolus introduced automated conditioning for mortgage lenders, marking its first major expansion beyond document processing into workflow automation. By late 2025, the company launched Encore, a double opt-in borrower intelligence sharing platform for small business funding, representing a strategic shift toward marketplace dynamics and network effects.
The company has demonstrated measurable AI impact internally, with Katelyn Canning, Director and Head of Legal, reporting a 75% reduction in contract analysis time. Vik Dua, President of Ocrolus, claims lenders expect to "reduce underwriter touches by up to 75%, while doubling the number of loans they can process with the same staff" using enhanced Inspect capabilities.
The competitive landscape intensified when startup Kaaj raised $3.8 million specifically to compete with Ocrolus in credit risk automation, validating the market opportunity while introducing new competitive pressure.
Key Features
- Encore platform for real-time cash flow data sharing between brokers and lenders
- Inspect platform with mortgage conditioning and Encompass Form 1003 integration
- Financial document verification with 99% accuracy claims
- Credit risk analysis automation for SMB lending
- 60% reduction in document processing time for high-volume clients
Use Cases
Small Business Lending
- Real-time cash flow data exchange through Encore platform
- Alternative lending underwriting for fintech companies
- Broker-to-funder intelligence sharing with double opt-in verification
Mortgage Lending
- Automated condition creation and management workflows
- Quality control strengthening through Inspect platform
- Encompass integration for seamless mortgage processing
Enterprise Lending Operations
- Partnership with Entech for clients handling 30,000+ annual applications
- Embedded AI solutions for loan origination systems
- Contract analysis automation with proven 75% time reduction
Technical Specifications
| Feature | Details |
|---|---|
| Primary Focus | Financial document processing and lending infrastructure |
| Client Base | 175+ funders including Square, PayPal, Bluevine |
| Processing Volume | 15+ million applications since 2016 |
| Accuracy Claims | 99% for income verification workflows |
| Platform Integration | Encompass Form 1003, embedded API solutions |
| Market Recognition | Inc. Magazine #1 fastest-growing Fintech nationwide |
Resources
- Official Website
- Encore Platform Announcement
- Inspect Platform Enhancement
- Entech Partnership Details
Company Information
New York, United States