Automate verification of employment processing and speed up loan approvals

An employment verification document confirms the employment status of an individual for either a current or a previous employer. Loan underwriters use verification of employment data to verify a borrower’s place of work and confirm their employment status. The format of the document confirming this information can vary from employer to employer, and these documents can be delivered as a hard copy or digitally in different file formats. This poses a challenge for traditional OCR solutions, and without a reliable intelligent document processing solution, lending professionals can spend hours manually inputting data from the verification of employment documents. This is tedious and time-consuming and it can lead to incorrect data entry, which, in turn, can delay a loan approval or even lead to its refusal.

Ocrolus’ automation solution lets you capture, review, and analyze verification of employment data in real-time from a variety of documents delivered in multiple formats. This results in faster, more accurate lending decisions.