Results 1 to 11 of 11
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12-08-2020, 07:40 PM #1
- Join Date
- Aug 2020
- Location
- Mississauga
- Posts
- 14
Statement Analysis Software
Hi Fellow Funders....
Any Suggestion for faster crunching of bank statements for the purpose of underwriting?
Currently using Ocrolus. Need faster software...
Thanks in advance
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12-09-2020, 10:47 AM #2
How long have you used Ocrolus?
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12-09-2020, 01:11 PM #3
- Join Date
- Aug 2020
- Location
- Mississauga
- Posts
- 14
We have been using it for the past few months now
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12-09-2020, 02:06 PM #4
- Join Date
- Dec 2016
- Posts
- 379
How is Ocrolus? Any good? Accurate? How long does it take to analyze? What is cost per file?
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12-09-2020, 03:44 PM #5
MoneyThumb posted here several times and seems to be a file parsing service.
Other competitors are Ocrio, Signifyed, Riskified, AppsFlyer. Never used any so can't comment on accuracy, speed, or pricing.
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12-09-2020, 07:27 PM #6
- Join Date
- Aug 2020
- Location
- Mississauga
- Posts
- 14
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12-09-2020, 11:59 PM #7
- Join Date
- Sep 2019
- Posts
- 402
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12-10-2020, 12:06 AM #8
- Join Date
- Oct 2020
- Posts
- 129
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12-10-2020, 11:17 AM #9
- Join Date
- May 2018
- Posts
- 53
Limited personal experience with Ocrulus myself. But I saw a very clean file (both a direct PDF download from the bank and great rev/ balances) get declined by a lender due to excessive negative days. In the 6 months of banks submitted, I think the minimum balance was $75k. The Ocrulus data was saying there was 10 negative days in the most recent bank statement.
Not sure how accurate the other platforms are but Ocrulus only claims to be like 98% effective (I think that was the metric they used). Even on clean files, it's not always accurate.
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12-10-2020, 11:29 AM #10
Not sure, just checked and they do have a website that's up but that doesn't mean much. There's a "freemium" option with 10 apps included so that could be worth a shot; not sure how much value they provide by analyzing an app and not statements, unless that's just poor phrasing on the site.
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12-14-2020, 12:58 PM #11
- Join Date
- Oct 2015
- Location
- NYC
- Posts
- 119
I know of a developer that created software for a funding company he worked for. I'm not sure how his compares to the others mentioned but it was pretty accurate and tweeks could be made on the fly. He may be interested in leasing this software to a select few on a monthly basis. Anyone who might want to know more feel free to reach via this forum or DM.
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