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Ocrolus Reviews & Product Details

JJ
Due Diligence Analyst
Mid-Market(51-1000 emp.)
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Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Prior to using Ocrolus, I used to have to review bank statements manually and by the end of my work day, my eyes were seeing double!! Ocrolus pretty much does the analyzing piece for me and all I have to do is review the exported spreadsheet!! It is so much easier when it is in spreadsheet format because you can add things up easier than when manually reviewing hard copy bank statements!! Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Sometimes the analytics take a little longer to complete, which at the end of the month can be hampering. Review collected by and hosted on G2.com.

Recommendations to others considering Ocrolus:

If you are thinking about using Ocrolus, don't hold off. It is the best tool to have and makes jobs easier!!! Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

I am not really solving any problems. I use Ocrolus to analyze bank statements and use the exported spreadsheet to review bank statements. The benefits I have realized is that the review of bank statements is so much quicker now than when I was manually having to review hard copy statements!! Review collected by and hosted on G2.com.

Ocrolus Overview

What is Ocrolus?

Ocrolus is a document AI platform that enables faster and more accurate financial decision making. The company analyzes documents with over 99% accuracy, regardless of format or quality, supporting hundreds of document types including bank statements, pay stubs, and tax forms. Ocrolus provides a trusted solution to detect fraud and streamline decisions for 400+ clients across a number of use cases, ranging from small business, mortgage, and consumer lending to tax preparation and Medicaid eligibility. Customers such as Enova, PayPal, Brex, CrossCountry Mortgage, Plaid, and SoFi leverage Ocrolus automation to build delightful user-experiences. To learn more, visit Ocrolus.com.

Ocrolus Details
Languages Supported
English
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Product Description

Ocrolus is a FinTech company that automates data verification and analysis for bank statements and other financial documents. The Company analyzes e-statements, scans, and cell phone images of documents from every financial institution with over 99% accuracy. By replacing tedious, imperfect human audits with sharp, AI-driven analyses, Ocrolus modernizes financial review processes in lending and a variety of other industries.

How do you position yourself against your competitors?

Ocrolus is the only document processing & automation solution with deep experience in lending and finance.


Seller Details
Seller
Ocrolus
Year Founded
2014
HQ Location
New York
Twitter
@ocrolus
1,118 Twitter followers
LinkedIn® Page
www.linkedin.com
729 employees on LinkedIn®

TC
Overview Provided by:

Recent Ocrolus Reviews

Verified User
U
Verified UserEnterprise (> 1000 emp.)
5.0 out of 5
"Ocrolus Fraud Detection"
What I like best about Ocrolus's fraud detection capabilities is that it has strong predictive power depending on the type of suspicious activity f...
Verified User
C
Verified UserMid-Market (51-1000 emp.)
3.5 out of 5
"Ocrolus IDP is a great vendor for document automation."
Own OCR, great QOS, attractive pricing, good support
Verified User
U
Verified UserSmall-Business (50 or fewer emp.)
4.5 out of 5
"I think this application is the easiest way to complete my job."
The most helpful that is it easy to use. I know that it will finish analyzing documents quickly and efficent.
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Ocrolus Media

Ocrolus Demo - Bank Data Analysis
Transform bank statements of any format or quality into clean, structured data. Leverage bank transactions to assess cash-flow trends and credit risk.
Ocrolus Demo - Invoice Processing
Transform invoice documents of any quality into structured JSON.
Ocrolus Demo - Fraud Detection
Fight fraud like never before. Ocrolus performs file tampering detection and mathematical checks to stop fraud in its tracks.
Ocrolus Demo - Document Indexing
Automatically classify a limitless variety of document images and prepare them for analysis.
Ocrolus Demo - Proof of Identity & Address
Extract and validate identifying information from documents and images.
Ocrolus Demo - Capture data from e-statements, scanned paper documents, or cell phone images.
Extract, validate and structure data from images of any format or quality, with over 99% accuracy.
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14 out of 15 Total Reviews for Ocrolus

4.6 out of 5
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14 out of 15 Total Reviews for Ocrolus
4.6 out of 5
14 out of 15 Total Reviews for Ocrolus
4.6 out of 5
G2 reviews are authentic and verified.
Verified User in Financial Services
UF
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

That is is accessible for everyone working accounts to find the documents, it is nice that the documents can be found in one place, but other than that Ocrolus doesn't provide much efficiency to my company Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

How long it takes to review documents, it slows down the loan processing timeline. If this product processed documets faster, or at least validate the document type quicker it would speed up the time applications sit pending ocrolus review. Review collected by and hosted on G2.com.

Recommendations to others considering Ocrolus:

It is good to hold documents in one place, not necessarily to review documents Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

Just uploading documents that customers have sent into Ocrolus, other than having documents in one place Ocrolus doesn't sort the information in the documents any easier than reading them Review collected by and hosted on G2.com.

Response from Taranita Costales of Ocrolus

Thank you for your valuable feedback. We pay very close attention to the time it takes us to process documents (currently TAT of <20 mins for bank statements), and we are constantly looking for areas of improvement. Our team would appreciate the opportunity to connect with you and do a system audit/review to see if some product enhancements might help improve some of the inefficiencies you’re experiencing. Please reach out to our Customer Success Team at support@ocrolus.com.

Verified User in Financial Services
AF
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Ability to get customized analytics for your specific company; Highly responsive on inquiries and issue resolution; unlocked capabilities by reducing manual processing. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Turnaround times can be sporadic on PDF Bank statements making it challenging to hit service level agreements; inability to collect self service custom reporting Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

Bank Statement Analysis - Ocrolus has allowed us to take out of the box data, and expand by customizing analytics to solve for AML and Competitor information gaps Review collected by and hosted on G2.com.

Verified User in Computer Software
CC
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: G2 invite
Incentivized Review
What do you like best about Ocrolus?

Own OCR, great QOS, attractive pricing, good support Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

unclear ownership, mostly smaller customers. Struggling with 100+ pages Review collected by and hosted on G2.com.

Recommendations to others considering Ocrolus:

Great IDP alternative to the large vendors. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

Post processing API is well documented. Review collected by and hosted on G2.com.

Verified User in Financial Services
AF
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Ocrolus is a quick way to analyze bank statements. Using Ocrolus has helped us increase application processing speed. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

The review speed of Ocrolus varies - it may take much longer to receive results at times. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

We were able to increase utilization and submission processing speed with Ocrolus. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
(Original )Information
What do you like best about Ocrolus?

What I like best about Ocrolus's fraud detection capabilities is that it has strong predictive power depending on the type of suspicious activity flag that is returned. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

What I dislike about Ocrolus's fraud detection capabilities is the false positive rate associated with some of the suspicious activity flags that are returned. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

The problem that we are solving with Ocrolus is the automated detection of altered bank statements in our underwriting process. This provides us with operational efficiencies as well as more fraudulent documents detected. Review collected by and hosted on G2.com.

Sri K.
SK
Co-Founder, Board Member
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

The operating team is great and very responsive to our needs. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Would love to see prices lowered, and turnaround times improve - but at current levels they are still among the best. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

We are improving speed and responsiveness in our lending process. We have also increased accuracy. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

The most helpful that is it easy to use. I know that it will finish analyzing documents quickly and efficent. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Sometimes it does take a while to analyze documents which does slow down the process. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

The benefits I have noticed is that it does make my day less stressful because it helps my day being more productive. Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Understanding customer needs at the API level and not just at the internal product level. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Human-in-the-loop can have discrepancies in their procedure/outcomes (although this is pretty rare). Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

We have automated bank statement processing/verification/aggregation. More consistency in our data collection and fraud recognition. Review collected by and hosted on G2.com.

Steve K.
SK
Chief Marketing Officer
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Ocrolus is reliable, accurate and they provide A+ support. Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

the turnaround time is a little slow at times, but I know they are improving speed all the time. Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

faster turnaround, better lending decisions, more insight than our previous approach Review collected by and hosted on G2.com.

Verified User in Financial Services
UF
Enterprise(> 1000 emp.)
More Options
Validated Reviewer
Review source: Seller invite
Incentivized Review
What do you like best about Ocrolus?

Accuraccy and integrations with other services Review collected by and hosted on G2.com.

What do you dislike about Ocrolus?

Response time can be improved. Downside is the respondn time Review collected by and hosted on G2.com.

What problems is Ocrolus solving and how is that benefiting you?

Proecss digital bank data Review collected by and hosted on G2.com.