Case Study: Beacon Funding accelerates credit decisions and detects fraud with Ocrolus

Beacon Funding cuts bank statement verification to 4 minutes with Ocrolus

Beacon Funding, a small business equipment financing company, faced a challenge with manual bank statement verification. Their team was spending over five hours per week on this process and struggling to detect sophisticated fraud, which posed a significant risk to their operations. They turned to Ocrolus for its AI-driven solutions including classification and cash flow analysis.

By implementing Ocrolus, Beacon Funding automated its verification process. The Ocrolus solution integrated seamlessly into their platform, analyzing statements and returning data within four minutes. This resulted in the identification of 6-7 fraudulent applications within the first four months, drastically improved decision speed, and reduced communication delays for their customers.

Beacon Funding