Case Study: Lendsmart accelerates loan underwriting with Ocrolus

Lendsmart cuts loan data extraction time to under 7 minutes with Ocrolus

Lendsmart, an AI-driven digital lending solution, faced the challenge of a traditionally slow and labor-intensive loan underwriting process that required extensive manual data extraction from various documents. To accelerate this, they turned to the intelligent document processing solution from vendor Ocrolus.

By implementing Ocrolus, Lendsmart automated its data extraction. This solution decreased the time it takes to extract data to under seven minutes, a process that previously took a human 20 to 45 minutes. This allowed Lendsmart to process loans 30% faster and enabled its clients to reallocate human capital to other areas of the underwriting process.

Lendsmart