Ocrolus Meets Lendflow
Fintech infrastructure company Ocrolus has joined forces with Lendflow, an embedded credit platform to make it easier and faster for lenders, fintech companies, and SaaS companies to offer credit.
“Ocrolus is a part of Lendflow’s platform,” said David Snitkof, Head of Analytics at Ocrolus. “So, if a lender is using Lendflow, they have the ability to then use Ocrolus through Lendflow and be able to automate the digitization of documents, automate the credit analysis that we do on those documents, automate cash flow analysis of small business borrowers, and make it very, very easy to seamlessly take all of the analytics that Ocrolus generates and puts them into Lendflow’s Decision Engine to facilitate good and speedy decisions.”
Lendflow allows for a wide range of companies to create digital lending experiences to help them grow.
“It’s really tailored to what the users of that product wants to do and the proprietary data that relates to the users of that product, all that kind of stuff,” said Snitkof. “And, it enables Lendflow customers to do a couple things. It enables them to provide a more holistic customer experience, but it also provides them another way of monetizing their software products and their customer experience.”
The two companies, Ocrolus and Lendflow, found an easily integrated synergy between their products. Lendflow’s decision engine allows their clients to be exposed to Ocrolus’ data, analytics and features and later decide which basis they would like to create approval for.
“So, they can say, ‘hey, I want to get these 20 different fields from Ocrolus whenever an application comes through and now I’m going to choose, you know, this field and this field and this field’ and set different thresholds and different criteria for who gets approved and how they get approved and what kind of line they get, what kind of price they get, depending on the results of that data,” said Snitkof.
Ocrolus has quickly expanded and helped process more than 200,000 small business applications monthly. And with their new collaboration with Lendflow it will allow them to help lenders make better decisions.
“We take a lot of pride in taking this world of data, and providing it to our customers in an efficient way, in a highly structured way, in a trusted way. And ultimately, with really good analytical insights to help them make a high-quality decision,” said Snitkof.Last modified: August 19, 2022
Anaya Vance is a reporter for deBanked. Connect with me on LinkedIn.