LOS ANGELES--(BUSINESS WIRE)--CloudMyBiz, a leader in Salesforce development and implementation, is pleased to announce a new partnership with Ocrolus, an emerging innovator in bank statement review automation. The integration of the PerfectAudit API, powered by Ocrolus, into the Fundingo lending platform by CloudMyBiz, has created the industry’s first turnkey solution, revolutionizing Alternative Lending.
“For years, lenders have relied on inefficient and lengthy procedures for bank statement review, a critical part of the loan underwriting process. This is no longer the case. Combining the PerfectAudit API with our Fundingo Underwriting automation, we are taking the slowest part of the lending process and supercharging it. This partnership will have a huge impact on FinTech,” said Henry Abenaim, Founder and CEO of CloudMyBiz.
The PerfectAudit API analyzes uploaded bank statements with 99+% accuracy, replacing manual review with automation. Ocrolus technology enables lenders to review every borrower's bank statement data automatically, regardless of whether or not the borrower provides sensitive bank login credentials. Through the partnership with CloudMyBiz, the PerfectAudit API will be integrated directly into Salesforce.
“Until we started plugging in the PerfectAudit API, even the elite, technology-driven lenders could not review every application digitally,” said Sam Bobley, Co-founder and CEO of Ocrolus. “Partnering with CloudMyBiz is a groundbreaking moment because it's leveled the playing field, allowing lenders of all shapes and sizes to transition to a hyper-accurate loan determination process within days. CloudMyBiz takes on all the implementation work, so achieving greater accuracy and automation than firms who’ve invested millions into technology, is now just a phone call away.”
The CloudMyBiz team, via the Fundingo suite of apps, empowers business through the Cloud and encourages streamlined collaboration between departments, clients, customers and partners. CloudMyBiz focuses on Salesforce Implementation, Migration, Integration and Development, Third Party Applications, and Custom App Development, all specialized for the lending industry.
Ocrolus is a technology company that automates the review of bank statements. The Company’s PerfectAudit platform analyzes statements from every financial institution with 99+% accuracy, generating account information, summary analytics and a comprehensive database of transactions. By replacing one of the few remaining manual underwriting procedures with hyper-accurate automation, Ocrolus strives to strengthen the FinTech ecosystem.