FormFree and Ocrolus Partner on Comprehensive Borrower Income Verification Program

ATHENS, Ga., April 21, 2020 /PRNewswire/ -- FormFree(®), a leading fintech provider of credit decisioning services, today announced a partnership with Ocrolus, a leading fintech infrastructure company that transforms documents into actionable data with over 99% accuracy. FormFree's Passport(TM) all-in-one asset, employment and income verification service now includes API calls to Ocrolus for paystub and W-2 tax form collection and data verification.

Each day, Passport helps tens of thousands of loan originators assess the ability of loan applicants to repay loans. FormFree's partnership with Ocrolus enables Passport to ingest data from paystubs submitted in PDF or cell phone photo format. Passport can also pull income data directly from payroll providers with a consumer's permission.

"Income verification is a critical factor in assessing a borrower's ability to repay a loan," said FormFree CEO Brent Chandler. "Enabling lenders to corroborate images of paystubs against digital data sources allows them to make credit decisions with a high level of confidence."

As Ocrolus digitizes data from submitted paystubs and W-2 documents, Passport corroborates that data against public and proprietary sources to validate that the stated employer is a real company with whom the loan applicant has a verifiable connection. Next, the program compares the paystub data against consumer asset data to calculate annual net pay and gross income. The verified asset, income and employment data points are then instantaneously pushed to the lender systems such as point-of-sale (POS) platforms, loan origination software (LOS) and automated underwriting systems (AUS).

"We developed Ocrolus to analyze documents of any format or quality with over 99% accuracy," said Sam Bobley, CEO of Ocrolus. "FormFree is a leading fintech that we are proud to partner with; incorporating our capabilities within Passport provides lenders with precisely accurate data for financial decisioning."

Paystub and W-2 document submissions are currently supported and available to FormFree customers. Ocrolus and FormFree are also developing integrations for additional financial documents including bank statements.

About Ocrolus:
Ocrolus is a fintech infrastructure company that transforms documents into actionable data with over 99% accuracy. Powered by artificial intelligence and a unique, human-in-the-loop data validation process, Ocrolus plugs directly into customer workflows via API, eliminating the need for manual data work. The solution includes built-in fraud detection and analytics, enabling customers to make smarter and faster business decisions with unprecedented scalability and precision.

Use cases include mortgage, small business, auto and personal loan underwriting, credit account openings and other document-intensive processes. Ocrolus has raised over $30 million in venture capital backed by Oak HC/FT, FinTech Collective, Bullpen Capital and QED Investors, among others. Visit to learn more.

About FormFree:
FormFree is a market-leading fintech company whose revolutionary products AccountChek and Passport are changing the credit decisioning landscape and encouraging lenders nationwide to incorporate a more holistic view of each borrower's financial DNA. To date, thousands of U.S. lenders and brokers have ordered millions of FormFree's patented verification reports representing over a trillion dollars in loan verifications. FormFree delights borrowers and lenders with a paperless experience, reduces origination timelines by up to 20 days and offers automated analysis and standardized delivery to lenders and investors using a secure ReIssueKey(TM). For more information, visit or follow FormFree on LinkedIn.

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