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CloudMyBiz and Ocrolus Announce Ground-Breaking FinTech Partnership | deBanked

CloudMyBiz and Ocrolus Announce Ground-Breaking FinTech Partnership | deBanked

by | Jun 6, 2017 | News

CloudMyBiz and Ocrolus Announce Ground-Breaking FinTech Partnership

PerfectAudit API Integration with Salesforce

June 4, 2017 – CloudMyBiz, a leader in Salesforce development and implementation, is pleased to announce a new partnership with Ocrolus, an emerging innovator in bank statement review automation. The integration of the PerfectAudit API, powered by Ocrolus, into the Fundingo lending platform by CloudMyBiz, has created the industry’s first turnkey solution, revolutionizing Alternative Lending.

For years, lenders have relied on inefficient and lengthy procedures for bank statement review, a critical part of the loan underwriting process. This is no longer the case. Combining the PerfectAudit API with our Fundingo Underwriting automation, we are taking the slowest part of the lending process and supercharging it. This partnership will have a huge impact on FinTech. said Henry Abenaim, Founder and CEO of CloudMyBiz.

The PerfectAudit API analyzes uploaded bank statements with 99+% accuracy, replacing manual review with automation. Ocrolus technology enables lenders to review every borrower’s bank statement data automatically, regardless of whether or not the borrower provides sensitive bank login credentials. Through the partnership with CloudMyBiz, the PerfectAudit API will be integrated directly into Salesforce.

“Until we started plugging in the PerfectAudit API, even the elite, technology-driven lenders could not review every application digitally,” said Sam Bobley, Co-founder and CEO of Ocrolus. “Partnering with CloudMyBiz is a groundbreaking moment because it’s leveled the playing field, allowing lenders of all shapes and sizes to transition to a hyper-accurate loan determination process within days. CloudMyBiz takes on all the implementation work, so achieving greater accuracy and automation than firms who’ve invested millions into technology is now just a phone call away.”

About CloudMyBiz

The CloudMyBiz team, via the Fundingo suite of apps, empowers business through the Cloud and encourages streamlined collaboration between departments, clients, customers and partners. CloudMyBiz focuses on Salesforce Implementation, Migration, Integration and Development, Third Party Applications, and Custom App Development, all specializing for the lending industry.

About Ocrolus

Ocrolus is a technology company that automates the review of bank statements. The Company’s PerfectAudit platform analyzes statements from every financial institution with 99+% accuracy, generating account information, summary analytics and a comprehensive database of transactions. By replacing one of the few remaining manual underwriting procedures with hyper-accurate automation, Ocrolus strives to strengthen the FinTech ecosystem.

Contact Information:

Dennis Mikhailov
Business Development | CloudMyBiz, Inc.
P 818.732.4316 | M 818.419.7339
dennis@cloudmybiz.com

Sam Bobley
CEO, Ocrolus Inc.
o: 646.850.9090 Ext. 1
c: 516.233.4293
sbobley@ocrolus.com

CloudMyBiz Helps Merchant Cash Advance Dreams Become Reality | Yahoo Finance

CloudMyBiz Helps Merchant Cash Advance Dreams Become Reality | Yahoo Finance

by | May 2, 2017 | News

 

CloudMyBiz Helps Merchant Cash Advance Dreams Become Reality

In Advance Capital Reaches New Heights

LOS ANGELES–(BUSINESS WIRE)–In Advance Capital (IAC), a fast moving organization in the world of merchant cash advance and small business lending, recently announced that it has secured a $50 million credit line following many quarters of significant growth. CloudMyBiz (CMB), who implemented a fully automated and integrated Salesforce system and integration for the IAC Organization, is extremely happy to see the overwhelming success that this client is having.

The partnership with IAC has been a breath of fresh air. We are very pleased with the success of the project, how it has grown and are looking forward to further growth ahead, says Henry Abenaim, Founder of CloudMyBiz.

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Following a demonstration in August of 2015, In Advance Capital purchased the full suite of CloudMyBiz’s customized Salesforce Apps, including Fundingo Origination, Underwriting, Loan Servicing, Syndication, Decision Logic and Splits. This new system allowed for greater flexibility of reporting, real-time underwriting decisions based on live data, automated loan servicing and significant process streamlining.

CMB’s system, combined with ongoing support and customizations, provided the backbone and functionality to make IAC’s success possible. 18 months later, the results speak for themselves. When they started in 2015, In Advance Capital was funding around $80,000 a month. This number has currently grown to about $2.5 million a month. In the last two months alone, they have seen a 220% increase of applications. The net result of this growth: a new $50 million credit line and very bright prospects for the future.

About CloudMyBiz

The CloudMyBiz team empowers business through the Cloud and encourages streamlined collaboration between departments, clients, customers and partners. CloudMyBiz specializes in Salesforce Implementation, Migration, Integration and Development, in addition to working with Third Party Applications and Custom App Development.

About In Advance Capital

Times Square-based In Advance Capital is a merchant cash advance company providing working capital to small- and medium-size businesses nationwide. Though only 18 months old, In Advance Capital has grown quickly, attributing portfolio transparency, discipline, and strong relationships with investors as keys to their growth and sustainability.

CloudMyBiz Announces Launch of its One-platform Solution at Lendit USA Conference

CloudMyBiz Announces Launch of its One-platform Solution at Lendit USA Conference

by | Mar 6, 2017 | News

CLOUDMYBIZ ANNOUNCES LAUNCH OF ITS ONE-PLATFORM SOLUTION AT LENDIT USA CONFERENCE

New York, NY, March 6, 2017 – CloudMyBiz announced today at the LendIt USA gathering of 5,000 fintech and lending executives in New York City, that CloudMyBiz is launching its one-platform solution for Origination, Underwriting, and Servicing on the world’s #1 CRM platform, Salesforce.com.

With the Alternative Lending space exploding, CloudMyBiz is helping to change the face of the industry with its one platform solution. With creative and powerful custom apps, such as Fundingo, which allows those in the Alternative Lending space to increase lead conversions, generating more sales and growth, CloudMyBiz is one of the young leaders in the industry, creating sophisticated solutions for Origination, Underwriting, Servicing and CRM needs.

There had to be a way of making it easy for Lenders to connect with Brokers and Merchants and vice versa, without money being left on the table,” says Henry Abenaim, Founder of Fundingo. “Fundingo takes the guesswork away. It is one of the most powerful applications on the market, which allows our Customers to close multiple deals at the touch of a button. Fundingo is an industry specific tool, and can be up and running within a few weeks.

About CloudMyBiz

The CloudMyBiz team is here to help you empower your business through the Cloud to encourage even more collaboration between departments, clients, customers and partners as well as streamlining your processes. We specialize in Salesforce Implementation, Migration, Integration and Development, in addition to working with Third Party Applications and Custom App Development. Our team of experts has a plethora of experience in a wide-ranging scope of industries. We will help you reduce your ownership of technology costs and are here to plan, create, deploy and guide you through the Cloud to ensure you get the most from your investment with optimal ongoing results.

About LendIt

LendIt is the world’s largest event series dedicated to connecting the fintech and lending community. Our conferences bring together the leading lending platforms, investors, and service providers in our industry for unparalleled educational, networking, and business development opportunities. LendIt hosts three conferences annually: our flagship conference LendIt USA as well as LendIt Europe in London and LendIt China in Shanghai. LendIt USA 2017 will be held in New York from March 6 – 7.

Learn more at http://www.lendit.com/.

 

Contact:
Dennis Mikhailov
Business Development | CloudMyBiz, Inc.
P 818.732.4316 | M 818.419.7339 |
dennis@cloudmybiz.com
www.CloudMyBiz.com ###