Encapture and Abrigo partner to help financial institutions streamline loan origination

By Edlyn Cardoza

Encapture, a high-growth SaaS platform that helps banks like Wells Fargo, Frost Bank, and Truist automatically extract important information from documents, announced a partnership with Abrigo, one of the leaders of compliance, credit risk, and lending solutions for financial institutions.

“By partnering with Encapture, we help the staff of banks and credit unions focus on spreading and ratio analysis instead of data collection and entry,” said Abrigo’s President Jay Blandford. “Faster loan decisions mean happier lenders, analysts, and borrowers.”

Encapture and Abrigo serve the commercial lending space, each dedicated to bringing efficiency and streamlining traditionally manual processes at financial institutions. Launched 20 years ago in Dallas, Texas, Encapture helps financial institutions save time and money by using machine learning to process large amounts of data. Abrigo aids banks and credit unions in everything from loan application to credit underwriting to loan administration on one platform.

“We’re delighted to partner with Abrigo to extend their intelligent automation capabilities,” said Encapture’s CEO Will Robinson. “Current market conditions require lenders to move quickly and provide outstanding digital experiences for both their borrowers and employees.”

The new partnership will allow users to seamlessly sync Encapture’s machine learning automation with Abrigo’s loan origination platform, automating the spreading of all types of tax forms using machine learning and creating a more consistent and accurate process for inputs, providing higher confidence in the underwriting process. The integration with Encapture will launch on the Abrigo platform on Sept. 16, 2022.

Recently, IBS Intelligence reported that Abrigo purchased BankLabs’ Construct and +Pay loan administration and funding solutions, expanding Abrigo’s loan origination solution and creating an end-to-end construction origination, management, and administration platform.