ATHENS, Ga., Apr 21, 2020 (SEND2PRESS NEWSWIRE) -- FormFree(R), 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."