Using AI to digitize financial documents at scale, with Ocrolus CEO Sam Bobley

<p>Lex chats with Sam Bobley, founder and CEO of Ocrolus - a fintech infrastructure company that powers underwriting processes for lenders like SoFi, Lending Club, and Enova. In this episode Sam starts off by sharing how he got started in entrepreneurship at a young age and the influence of his father, who was a serial entrepreneur. Bobley explains how Ocrolus focuses on document automation using OCR technology and the challenges they faced in the early days. He also discusses the evolution of machine vision and the improvements in handling semi-structured and unstructured documents. Bobley highlights the importance of vertical-specific solutions and the integration of AI technologies into financial services. He shares the company's experience during the COVID-19 pandemic and the pivot they made to focus on the Paycheck Protection Program. Bobley emphasizes the need for transparency, focusing on the big picture, and having a support system to navigate the challenges of entrepreneurship. He rounds off the episode discussing the trends he sees in the industry, including the rise of large language models and the adoption of cashflow-based underwriting.</p><p> </p><p>MENTIONED IN THE CONVERSATION</p><p> </p><p>Ocrolus's Website: https://bit.ly/3QHYoeN</p><p>Sam's LinkedIn profile: https://bit.ly/3SrC7TU</p><p> </p><p>Topics: artificial intelligence, ai, machine vision, OCR, LLM, machine learning, automation, fintech, embedded banking</p><p> </p><p>Companies: Ocrolus, Plaid, OpenAI, Google, Amazon, AWS, OnDeck</p><p> </p><p>ABOUT THE FINTECH BLUEPRINT</p><p> </p><p>🔥Subscribe to the Fintech Blueprint newsletter to stay at the forefront of Fintech and DeFi: https://bit.ly/3hyhlC2</p><p> </p><p>🤝 Partner with Fintech Blueprint through sponsorships: https://bit.ly/3UZllsV</p><p> </p><p>👉 Twitter: https://twitter.com/LexSokolin</p><p> </p><p>TIMESTAMPS</p><p> </p><p>1’22”: Early entrepreneurial insights: Money's role Sam’s upbringing and fintech's influence</p><p> </p><p>5’15”: The dawn of image recognition: Founding a co