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The new integration between Blend and Ocrolus was reportedly made to help accelerate the digital mortgage application process. Ocrolus' partnership with Blend will focus on document automation, initially on classifying documents and capturing data for mortgage applications and potentially extending into other business areas in the future.
“We're enhancing the Blend platform with Ocrolus' automated, accurate document classification and data extraction capabilities. Our partnership with Ocrolus enables us to swiftly deliver time-saving innovations to our customers,” said Jeff Braddock, manager of business development for the company.
According to the company, the partnership represents a notable milestone in its broader mission to streamline and fully automate all aspects of loan originations. The company's technology is used by a number of lending institutions including Wells Fargo, U.S. Bank, and more.
Ocrolus provides modern document analysis infrastructure and has raised over $100 million from blue-chip fintech investors.