Case Study: Fora Financial achieves 4-hour loan decisions and 50% fewer bank verifications with Ocrolus AI-driven document automation

Fora Financial introduces AI-driven document automation and fraud detection for more efficient small business lending

Fora Financial, a New York–based business financing provider that has facilitated over $4 billion in funding to more than 55,000 business owners, faced slow, error-prone underwriting due to manual document review, high operational costs, and application backlogs. To solve this, Fora partnered with Ocrolus to deploy Ocrolus’ AI-driven document automation and Detect fraud tools to improve data accuracy and speed at origination.

Ocrolus’ platform automated document ingestion, classification, extraction, and fraud scoring directly into Fora’s LOS, eliminating manual keying and adding cash-flow analytics and an Authenticity Score for targeted verification. As a result, Ocrolus helped Fora reduce data extraction turnaround to under 15 minutes, deliver loan decisions within 4 hours and funding in under 24 hours, and cut bank statement verifications by over 50%, improving scalability and lowering early credit losses.

Fora Financial

Jesse Goldman

Vice President of Strategic Operations