Through the partnership, Ocrolus technology will enable Envestnet | Yodlee customers to gather financial data from uploaded documents, such as bank and income statements to supplement data from digital sources.
Ocrolus, an AI-driven financial document automation and analysis firm, and Envestnet | Yodlee, a data aggregation and analytics platform, announced a strategic partnership to embed Ocrolus technologies into the Envestnet | Yodlee platform.
Through the partnership, Ocrolus technology will enable Envestnet | Yodlee customers to gather financial data from uploaded documents, such as bank and income statements to supplement data from digital sources. By providing end-users with the option to either submit documents or digitally connect bank accounts, Envestnet | Yodlee now expands its document coverage capabilities.
Read More about Fintech : What Are The Fintech Lending Benefits?
“While the financial services industry has undergone significant digital transformation, documents are still a critical source of data,” said Sam Bobley, Co-founder and CEO of Ocrolus. “We are thrilled to partner with Envestnet | Yodlee to provide a more comprehensive and smoother customer experience across various financial services use cases.”
Ocrolus’ AI-driven document automation technology supports more than 1,000 document types with over 99 percent accuracy, regardless of format or quality. With the ability to capture and analyze data from both documents and digital connections, Envestnet | Yodlee is assisting users and enabling more efficient and confident decision-making.
“Our partnership with Ocrolus enables us to broaden our capabilities and deliver on our commitment to help bank and tech customers achieve financial wellness, through accessing the tools they need from financial institutions, enterprise technology companies, wealth management financial advisor relationships, and credit lending providers,” said Arun Anur, Chief Operating Officer of Envestnet | Yodlee. “With added document automation capabilities, Envestnet | Yodlee will improve and streamline the onboarding process for credit and lending use cases.”
Ocrolus’ experience processing hundreds of millions of documents adds new statement upload capabilities to Envestnet | Yodlee’s platform, including connections from over 17,000 global sources, enabling innovation and new insights for financial service providers.
Latest Fintech Insights : How Does Fintech Makes Money?
[To share your insights with us, please write to pghosh@itechseries.com ]
