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

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.


 


MENTIONED IN THE CONVERSATION


 


Ocrolus's Website: https://bit.ly/3QHYoeN


Sam's LinkedIn profile: https://bit.ly/3SrC7TU


 


Topics: artificial intelligence, ai, machine vision, OCR, LLM,
machine learning, automation, fintech, embedded banking


 


Companies: Ocrolus, Plaid, OpenAI, Google, Amazon, AWS, OnDeck


 


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Twitter: https://twitter.com/LexSokolin


 


TIMESTAMPS


 


1’22”: Early entrepreneurial insights: Money's role Sam’s
upbringing and fintech's influence


 


5’15”: The dawn of image recognition: Founding a company on the
cusp of AI advancements


 


12’23”: Building the ideal product: The journey to a four-hour
turnaround time


 


19’48”: The evolution of machine vision: From early days to
cutting-edge capabilities


 


26’34”: Enhancing the developer experience: A deep dive into
integration and seamless interactions


 


34’02”: Navigating the journey of building Ocrolus: Inflection
points, growth, and challenges


 


38’48”: Staying resilient through business challenges: Advice for
entrepreneurs from a seasoned founder


 


40’28”: Maintaining leadership resilience: Strategies for
navigating the roller coaster of entrepreneurship


 


44’42”: Future trends in AI and embedded finance: Insights from a
tech entrepreneur


 


46’21”: The channels used to connect with Sam & learn more
about Ocrolus


Disclaimer here — this newsletter does not provide investment
advice and represents solely the views and opinions of FINTECH
BLUEPRINT LTD.


Contributors: Lex, Laurence, Matt, Farhad, Mike, Daniella


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