We’ve been working on improving the overall speed and reliability of our platform for almost a month now. And we combed through our entire code base and optimized our code just about everywhere. There is still much more to do, but we are pleased with the progress. 

Welcome to another platform update at LendAPI. We worked mostly to harden our platform this time around as well as getting some of our clients into production. We also published a few more episodes of LendAPI Academy for our clients and future clients to watch how to build and launch their LOSs and Decisioning Engines themselves.

We would like to announce that LendAPI has been selected by a large commercial real estate investment company in California to expand their broker program and leverage LendAPI’s mutli-tenant platform to provide a digital application submission process.

Our first release of the year is full of features and enhancements. We are working to completely revamp the UI and some UX of some of the most used sections of our platform. The design work has been ironed out and approved by our product team and our engineering team is hard at work hammering out these new looks. Stay tuned.

Decision Engine is at the core of banks and fintechs. Making critical business decisions such as (KYC) or “know your customers” or credit underwriting decisions can make or break your business.

There are many reasons why FinTech Banks fail. We’ve seen some spectacular failures when banks fight with their fintech partners whether the partner is an originator or software vendor. When banks give up control and lack foundational visibility into their fintech partners, that’s why issues start to brew and these fintech partnership programs can quickly unravel and become a regulatory nightmare.

We will lay out three key focus areas of launching a future-proof fintech platform in 2025 and a few nuggets for you to think about when you are ready to launch.

When I first started exploring decision engines, it struck me how little had changed in decades. Many incumbents have failed to keep up with the pace of technological innovation. Where are the features like A/B testing, shadow scoring, or seamless third-party integrations? It became clear that these simply weren’t priorities on their roadmaps.

Friends, Family and FinTech Enthusiasts, welcome to our last production release of 2024.

It’s impossible to capture everything the LendAPI team has achieved in 2024 within a mere 1,000 words. The blood, sweat, and tears poured into this company have culminated in one of the greatest collective feats we’ve ever pulled off.

At LendAPI, we’re starting a new tradition: boldly forecasting the future of fintech with our annual Top 10 Predictions list. This year, we’re diving into banking, credit, lending, payments, crypto, and everything else we believe will shape 2025.

Here are our inaugural LendAPI Top 10 FinTech Predictions for 2025:

There are two more releases left in the year and we are still busy releasing features, optimizing our code and getting a ton of stuff done for our clients.

In this release, we are finally getting into the SSO game where enterprise customers can login all the way through their environment and into ours through this single sign-on process. You will see these types of enterprise integration work more and more from LendAPI as we engage more sophisticated clients.

Immediate Release

Irvine, California — LendAPI, the industry's only all-in-one platform enabling banks to build, launch, and scale financial products out of the box, has reached a groundbreaking milestone. Since its launch on March 1, 2024, LendAPI has partnered with banks and fintechs to revolutionize speed-to-market in ways never seen before in the financial industry.

In today’s digital banking era, delivering credits and debits to qualified borrowers isn’t just a competitive advantage—it’s table stakes. Payliance has been at the forefront of modern payment technology, offering fast onboarding and real-time payment rails for banks and lenders alike.

This spotlight highlights the benefits of real-time payments and working with payment gateway providers who prioritize seamless onboarding for banks, lenders, and financial institutions.

Cash flow underwriting is transforming how banks and lenders assess applications today. With the rise of banking transaction tools such as Plaid, Nova, MX, Chirp, and others, analyzing banking transaction data has never been more critical.

In this spotlight, we explore why cash flow underwriting has gained immense popularity among banks and fintechs and how our partner Pave is leading the way by uncovering powerful insights in this space.

We’re thrilled to announce the launch of LendAPI Academy, a comprehensive video series designed to help you unlock the full potential of the LendAPI platform. Hosted by our Head of Operations and Product, Kay Feng, this educational initiative offers step-by-step guidance to both new and existing customers, ensuring you’re equipped to make the most of everything LendAPI has to offer.

There are a little more than two more weeks left in 2024 and we are busier than ever.

We are thrilled to unveil LendAPI Academy, an exciting new addition to our suite of services, designed to elevate your user experience and empower your financial operations.

We’re thrilled to kick off the new season of the LendAPI Podcast, hosted by Rutger van Fassen, with a special guest: Ramkumar (Ram) Venkataraman, Co-Founder of Sei AI.

FOR IMMEDIATE RELEASE

LendAPI Announces Integration with Spring Labs’ LiveSight to Transform Lending and Business Verification

Irvine, CA— Dec 9th 2024: LendAPI, a leading no-code lending infrastructure platform, has officially integrated with Spring Labs’ LiveSight, the premier business identity infrastructure designed to streamline consumer and business verification for the lending, BNPL (Buy Now Pay Later), and Point-of-Sale financing industries.

We’re thrilled to announce the launch of the LendAPI Podcast, hosted by Rutger van Faassen, a highly respected banking and payments expert with a long-standing presence in the fintech industry. As our host, Rutger will bring his expertise and engaging personality to kickstart this exciting addition to our ecosystem in the coming year.

Welcome to our weekly release notes. For those that are just getting to know LendAPI, we are on a daily release schedule, but on a weekly basis, we lasso all of our changes into one single weekly release for everyone to review.

We hope everyone had a safe and sound Thanksgiving here in the United States. We all took a few days off but we didn’t take our eyes off of the most important thing we do here, release more features and functionality for you, our partners and clients.

LendAPI is pleased to announce its participation in the upcoming Techstars New York City Demo Day, alongside 20 other startups, at Google’s New York City office on Tuesday, December 3rd, 2024.

Aloha and Mahalo! I am in the Big Pineapple this week for a much needed R&R but the team at home is going full steam ahead. We have so much to do and we are trying to double time before the year finishes.

Boy do we have a monster of a release today for y’all. One of the biggest features to-date is A/B testing of risk management strategy and it’s finally here!

Banks with fintech partnerships, listen up: do you know what your fintechs are doing while you sleep? If consent orders from regulatory agencies aren’t enough to keep you awake, then perhaps the risk of consumer lending law violations and disparate impacts on protected classes will.

After 3 months of solid fund raising mode, we are back into founders mode. Wait, we’ve always been in founder mode. There’s so much to do and so many problems to solve in this vast banking and fintech industry, our heads are buzzing.

LendAPI, the innovative fintech startup transforming financial technology deployment, raised $3.2 million in seed funding. This round, led by Cohen Circle, with participation from Great North Ventures, AlleyCorp, Techstars, Plug and Play, and Interlock Capital.

Another week flew by just like that but we have a ton of updates in this release. We focused the majority of our efforts this week to harden our client’s end customers' experiences. Whether they are point of sale financing, or embedded check out or credit card onboarding, we continue to refine their onboarding process.

LendAPI is proud to announce new platform pricing, better aligned with our customers' needs. We’ve restructured our pricing tiers, renaming them from Silver, Gold, and Platinum to Launch, Core, and Scale.

Live from Las Vegas! We are at Money20/20, the biggest FinTech conference in the world. Tens of thousands of fintech enthusiasts are converging in Las Vegas for this once a year get together.

So much has happened in the past week or so! We had our big UI release in v2.5.4 and now we rapidly released another two production releases to support onboarding efforts and getting ready to do more UX refreshes one interaction at a time.

LendAPI is proud to announce Luby as its official certified partner, marking a new milestone in their collaborative relationship. This partnership strengthens the capabilities of both companies, enabling them to seamlessly launch new clients while combining the best of their technical expertise. Luby will work closely with LendAPI to expand their capacities and provide a robust, integrated solution that addresses the needs of banks and fintechs looking for agile, scalable onboarding systems.

Hello folks! LendAPI’s new user interface has finally arrived with v2.5.4 release.

We have a whole slew of new UI upgrades coming as part of subsequent releases all October. We will upgrade key functionality of our platform with new UX that will make your lives and our lives easier.

LendAPI is pleased to announce a new client joining our platform. This client is based in California and has been in business for a long time in the areas of invoice financing. We engaged with this new client and got them up and running in a day with our already implemented Plaid integration and our rules engine.

LendAPI is pleased to announce a new client joining our platform. This client will start a POC (Proof of Concept) on the LendAPI platform. The private real estate financing market is heating up as investors and developers are re-entering the market as inflation and cost of capital falls.

With tremendous gratitude, LendAPI is excited to announce that we have surpassed a major milestone. We've successfully processed over 5 million applications in a short period, doubling our transaction volume from 2.27 million on September 8th, 2024.

Hello Banks, FinTechs, Point of Sale Finance folks and pure play retail friends! 

This week we are heading into a double header, two releases this week to support our existing clients and launch new customers. One of our long-time CUSOs or Credit Union Service Organizations launched another client on our platform which is always wonderful news for them and for us. Congratulations.

We had a busy week this past week. Lots of demos and on-site visits with banks and lenders. Everyone is ecstatic when they see our all in one platform. We are in the process of launching a few clients and this release has a lot of features that allows us to be even more flexible when it comes to building certain applicant experiences.

This is a story told by Timothy Li, CEO of LendAPI, on the origin of LendAPI and why this is an important chapter in the Southern California entrepreneurial and venture capital scene.

So much has happened since our 250th release a few days ago. Our platform release v2.5.1 is perhaps one of the most comprehensive and one of the biggest releases to date.

How are we able to outproduce ourselves? We implemented better framework, more efficient coding standards and cleaned up a lot of our architecture to be more nimble and efficient. 

A few days ago we alluded to our 250th release. We get a collective chill when we think about this incredible journey we are on since we launched almost 7 months ago.

As we approach our 250th release, we want to say thank you to everyone that supported us on our journey to completely rethink how we launch new financial products. A single click to launch is our vision and we are getting there in a hurry.

LendAPI is pleased to announce the addition of a new client using our state of the art decision engine to power their new personal loans product. This client uses Plaid’s transaction exclusively for underwriting with advanced scores and attributes delivered by Pave’s engineering team.

LendAPI is VC-backed industry first 1 click fintech product builder that helps banks, fintechs, retailers to launch their financing products in minutes. Our Product Studio, Rules Studio and our Pricing Engine work seamlessly together with all the popular third party integration partners of your choice.

I know, I know, I know, we just did a release a few days ago, why? Well, we love you guys that’s why. Some of the features in this gargantuan release have been in the works for a quiet while now and these new features, APIs and connectivities will make this platform even more versatile than ever before. 

It’s been a beautiful week in New York City and the reason why Sam and I are here these two weeks is that LendAPI has been accepted into Techstars Accelerator New York City. 

We met some amazing founders in our 11 company cohort and these relationships will last a lifetime. We appreciate everyone being super patient with us as our calendars are extremely packed to go through various courses and content at Techstars.

We are also making great strides with our seed round investment. This is also a very time consuming task and one that we don’t take lightly. We talked to some of the biggest fintech VCs around the world and have received amazing feedback. And the reason why we are raising a seed round is to provide more support to our existing clients and accelerate onboarding of our new clients.

We will be hiring inside sales, executive sales, implementation managers as well as expanding our development team around the world. We will become the dominant player in this vertical and banks, fintechs will never launch their products the same way again. One click to launch is our vision and join us at www.lendapi.com and click on Sign Up to get your own account.

We are proud to announce that LendAPI has been selected to join the prestigious Techstars Startup Accelerator in New York City. Techstars, recognized as the world’s leading technology startup accelerator, is renowned for its impact on early-stage companies and its contributions to the global startup ecosystem. 

Techstars New York City is one of the program’s most established and competitive cohorts, drawing applications from across the world. We are thrilled to be one of only 11 companies chosen for the 2024 program, selected from thousands of applicants.

At LendAPI, we recently surpassed 2.27 million transactions on our platform, processing 100,000 applications daily. Our platform is trusted by both challenger and traditional banks, enabling them to launch new products faster in today’s rapidly evolving market.

We are pleased to announce that we have processed over 2.27 million transactions through our platform on Sept 8th 2024. Our high performance decision engine has doubled the transaction volume 19 days ago when we reached 1.1 million transactions on August 20th, 2024.

LendAPI Platform Update v2.4.4 - v2.4.5

We have some exciting news to share. We added a new client. We achieved SOC 2 Type 2 compliance. We added a few more marketplace members to our ever growing community. We love every one of them.

On the fundraising side, we are on track to close our seed round. If you’d like to be part of it, there’s still room. We are aiming to close our seed round by the end of September! Talking to investors from funds that get what we are doing is an awesome and assuring experience. 

We made a new hire and this engineer will dedicate on UI/UX. We have a brand new design for our platform which we’ve been working on for the past few months and you will see a facelift soon. We are very excited about this.

We are also hiring QA engineers and are interviewing talents as we speak. If you are an individual and interested in joining our team, please email us at info@lendapi.com.

The founding team is in New York City, The Big Apple. We will be meeting clients, attending conferences and working on a few things that I think all of us will like.

And lastly, what do you think about this tagline “LendAPI, Onboard Anyone.”?

We are excited to announce that LendAPI has completed its first SOC 2 Type 2 audit. We understand the importance of security and practices safeguarding the most important parts of our system which is the stewardship of data.

We are back with two rapid releases that enabled us to get into a new embedded finance vertical as well as workflows for more complex underwriting scenarios where manual review is required.

Again, we give thanks for our clients and potential clients to make our platform even better and user friendly.

We also added more variables from our friends at MaxMind and achieved true integration status with Accelitas. Another badge earned. 

We are pleased to announce that LendAPI has launched the embedded financing vertical with the first client in the B2C e-commerce and retail space. This client is a large financial institution specializing in outdoors equipment clients with e-commerce presence as well as retail store front foot print.

It’s been almost six months since we launched and we are humbled daily. Let’s face it, software engineering is hard. Fintech software engineering is harder and making it all a configurable SaaS tool where banks can design and deploy financial products in a few minutes is something none of us thought we would take on and succeed. 

We are pleased to announce that we have processed over 1.1 million transactions through our industry first digital onboarding platform. 

LendAPI Platform Update v2.3.9 - v2.4.0

We have a ton of updates for you in the past 3 releases, v2.3.9, v2.3.10 and brand new v2.4.0. As we are heading towards the fall, we have huge plans for our platform to enhance our Product Studio as well as making our Rules Studio and Pricing Engine even more powerful.

We are thrilled to onboarding another client in their auto lending and title lending space. We’ve known the CEO for a long time and he is a very experienced operator. Another dream client. This client will utilize our Product Studio, Rules Studio and our Application Management Platform to launch their entire digital onboarding experience.

LendAPI Announces Marketplace FinTech 150

LendAPI Marketplace is a directory of the hardest working fintech firms from around the world. It’s a collection of hand picked firms in categories ranging from risk analytics to credit bureaus, from flood insurance to compliance management. 

The marketplace has reached over 150 members in a short span of time and we are inviting more companies to join. It is completely free to join. We have 22 categories and we will slot you into one or many of these categories as you see fit.

What is Decisioning as a Service? 

Decisioning as a Service is a software system that produces results from logical comparisons using mathematical expressions and data from a variety of sources.

We are doubling SaaS subscription pricing across all tiers with added services.

Summertime is coming to an end and to celebrate we are all about launching partners and clients in these three releases. 

We’ve also happy to announce that we’ve met all of our goals for the quarters in terms of number of clients onboarded, number of strategic partners onboarded and of course our sales and revenue goals. 

We want to take the time and look back at the past four months since launch and give our thanks and gratitude to all of our partners, clients, and everyone that reached out to us and helped to get on the right track.

Every call, every interaction is a chance for us to learn. We are heads down on developing new widgets, plug-ins to enter the embedded finance arena with some really great clients. We can’t wait to tell you more.

We have another integrated partner announcement. This time, it’s UGA Finance, a loan servicing platform that has helped thousands of businesses and has over $2 billion dollars of assets under management. We couldn’t be more proud to work with their team and establish API connectivity to serve our common clients. Look out for UGA Finance to join our marketplace shortly.

A decision engine is a powerful tool for banks to comb through millions of applications and focus on the few that qualify for their product and services. Almost all credit applications are processed online and the need for a high speed decision engine is table stakes for all financial institutions around the world.

So how does decision engine work and what are some of the key features of a decision engine and what are banks looking for in a decision engine that’s powerful and yet easy to use. Can it be completely operated in a do-it-yourself mode? Today we will discuss these key tenets of a Do-it-Yourself or No-Code decision engine.

We are prepared for three releases this week and this is the first public release of the two and we have a private release for a major bank which we won’t be able to publish the details of. The next release notes will be released sometime this weekend. There will be some cool stuff in our 2nd public release this week so stay tuned.

Yes, we only slept for about 2 hours and fired off two more releases.

We have to thank our partners again and again for making us better. Some of these items you will see in this release note are features and enhancements and bugs (yes, we are not perfect) uncovered by our clients. If we haven’t said it before, we will say it again here, “Thank you!”.

Friends and colleagues, we have finally arrived at v2.3.x. 

In the next 10 releases we will double down on hardening our platform, integrate with even more marketplace partners to increase the speed of launch for our bank partners.

Hey folks, we are coming at you with three releases worth of updates and enhancements. We are expanding into the Mortgage POS business, if you are interested in using our product builder to build our Mortgage POS process, we will get you 6 months of free monthly fee to help us navigate through some finer points of this new vertical.

In the past two weeks, we’ve been focusing on more enhancements and getting ready to deploy some cool new features to our platform. There will be additional integration partners coming online as well. 

We dedicate these two releases to all of our customers that are constantly giving us ideas and feedback to make our platform stronger and resilient. Thank you.

We are celebrating 100 most conceited fintech partners at LendAPI! In the past 100 days, we’ve partnered and worked with these best of breed fintech companies that expands access to credit for 8 billion people around the world.

What’s in store for all of us in LendAPI’s v2.2.x releases? We are building even more automation and flexibility and features in terms of various states of the application process. 

We are nearing the end of our platform v2.1.x and venturing into v2.2.x. That said, we want to bring your attention back to an article we released a month ago titled “Credit Decision Engine - The World of Caching”. You can click on this link to read our thoughts behind the concept of caching.

We have so much to catch up on since late May. We’ve done multiple releases and I want to make sure you guys get the latest platform updates, slowly but surely.

We can’t thank you enough for the constant feedback. Our most demanding customers are the ones that will make us better so I thank you. 

With that feedback, we are spending more time hardening the system as well as bringing out more features and integration partners constantly and here are updates on LendAPI platform releases already in production.

We are thrilled to onboarding another client in their personal finance space. We’ve known this team for a long time and they put together another awesome portfolio with all the industry stars behind it. We are happy to launch them on LendAPI.com and take advantage of all aspects of the platform.

To continue LendAPI’s mission and make more integrated partnerships available through our credit decision engine, we celebrate the completion of our complete Experian’s Clarity Services integration project. Clients can start using their credit scores and attributes today!

Hey folks, we’ve been busy taking care of you guys and we’ve onboarded another fellow client and in talks with a bunch of other banks and non-bank customers. Your recommendations and word of mouth referral are helping us and we want to thank you guys! The more customers we onboard the more we learn and the more our platform improves. 

And what other ways to share our joy than another round of platform upgrades and feature releases. LendAPI released three more iterations of the platform and we are here to explain to you all the goodies that’s been released into our production system.

We received our guests from Equifax’s technology, product, and risk teams this past week and we’ve seen some of their latest offerings both in infrastructure, operations as well as their core offerings in terms of credit risk models, attributes.We also saw their new offerings as result of their acquisition of TeleTrack as well as DataX. We are thrilled to have them on site and here are some of our hot takes of what we saw.

LendAPI is entering its 3rd month in business and we have signed up a new client in the personal loans space. These fine folks are into near prime and subprime loans. They are using our decision engine as well as our scoring engine to execute their latest underwriting strategy. Our data science and engineering team worked hand in hand to get all the APIs and endpoints modified and ready to roll. As we venture further into May 2024, we are hoping to onboard more clients that utilizes our Product Studio as well as our Rules Studio. Stay tuned for more good news.

We are thrilled to onboard our newest clients in the personal lending industry. This client specifically addresses the need of subprime and near prime clients nationwide.

User permissioned data is gaining popularity and acceptance. In this article, we will talk about the history of user permissioned data, some of the major players in this space and how your credit decision engine must be ready to ingest this information through widget integration as well as API integration.

Waterfalling your credit underwriting rules saves both money and reduces compliance risk. In some cases, it can help you to increase your conversion rate and upsell more products. In this article, we will talk about what is a waterfall strategy and why it’s important.

The ability to cache data will save banks and lead aggregators a lot of time and money. While reducing operating cost and compliance issues, the caching layer of your decision engine will greatly speed up your decision making process and deflect fraud attempts.

The most important aspect of a credit decision engine today is the ability to run multi-threaded risk and product strategies. In this article, we will address these use cases that goes beyond the ability to execute rules and credit risk models.

In the past few weeks, we managed to fire off 6 rapid releases. Why? Because we constantly listen to our client’s feedback and solve real issues as opposed to massaging button colors (we will get to that shortly). April 2024 has been an interesting month for us, the sun and the moon did ellipse. As consumers' attention span gets shorter and shorter, digital onboarding must take on a whole new meaning. We will be the one app that rules them all (for banks that is).

What are the steps in the loan origination process? In this article, we will break this down into three simple steps. From marketing to loan servicing and everything in between. We will dive into the latest technology that helps banks and consumers to get their loan decision as quickly as possible. 

LendAPI is committed to the security and privacy of our client’s data. Our commitment goes beyond SOC2 audits, we have completed our penetration testing and we will continue to report to everyone our platform’s performance as we move forward. 

While our competitors are sleeping, we are coding. While our competitors are thinking up excuses to delay and rack up their hourly rates, we are releasing features and adding more data providers. These series of releases are no different. We added a bunch of robust features to our decision engine as well as integrated with some of the hottest third party data providers.

Yes, we can't believe it either until it is done! Check out this mobile first, 3 click process that makes digital onboarding experience a dream!

LendAPI enters into a major version increment, 2.0. We look forward to enhancing our decision engine further with new features and new configuration methods to make our decision even more powerful. We can’t wait to launch these new features along with our product roadmap.

We bring another exciting release(s) to further improve our platform. This time, we've completed our Prove integration and created a LendAPI Prove Widget that our clients can easily use to build their short onboarding application. More to come with our Prove demo. But first, we want to show you what we've been building.

Hello and happy Sunday! We are excited to be mentioned on Simon Taylor's weekly publication FinTech Brainfood.

Dear valued clients

On this Good Friday, we thank you for your love and support and we wish you all a safe and fun spring break. Please let us know all the fun places you and your families are headed.

LendAPI selects Secureframe as our compliance automation and monitoring platform starting with the SOC 2 framework. 

LendAPI, a leading digital onboarding platform for banks, has announced its selection of Johanson Group LLP, based in Colorado Springs, CO, as its SOC2 audit firm. Both LendAPI and Johanson Group are tech-forward organizations focused on driving efficiency in their respective industries. As LendAPI strengthens its relationships with bank partners and fintech organizations, security and compliance have become crucial aspects of its integration process. The SOC2 certification signifies LendAPI's commitment to cybersecurity and breach prevention.

We released a new set of product features and pricing changes. We also welcome a few more friends to our marketplace and it's growing. We are heading to the 100 mark soon. Check them out at www.lendapi.com.

LendAPI proudly announces the appointment of Kenneth Lim as Chief Risk Strategist, leveraging his extensive background in credit risk management garnered from esteemed organizations like LendingClub and Deserve. With a proven track record in driving strategic initiatives and managing complex credit programs, Kenneth's vision perfectly aligns with LendAPI's mission to revolutionize the lending landscape through a fully configurable Loan Origination System (LOS). Timothy Li, CEO of LendAPI, expresses confidence in Kenneth's strategic insights, emphasizing his invaluable addition to the leadership team. Kenneth's appointment signifies a pivotal step towards strengthening LendAPI's position as a leader in the fintech industry, promising impactful contributions as they continue their mission.

Credit Decision Engine 

Credit Decision Engine is a specialized type of decision engine that’s widely used by bank and financial services. When a consumer or a small business is seeking credit, it is more than likely that they will encounter a financial service’s decision engine to make a quick and comprehensive real time decision.

Introducing David McMullin, the newly appointed Chief Revenue Officer at LendAPI, a leading no-code digital originations platform. With over two decades of fintech and entrepreneurial experience, David's strategic vision and expertise will drive our revenue generation efforts, shaping the future of banking.

The biggest feature from this release is our Multi-Product offering feature. Our clients can finally offer multiple types of products using completely different underwriting criteria and offer their clients checking accounts, credit cards, loans etc in one sitting! We are super excited about this feature.

Hey folks, we are forging towards another batch of product enhancements at LendAPI. This build is now released into production.

Digital banking has never been more important and today we announce an incredible partnership with PortX, a leader in financial services infrastructure that makes it easy to access core data.

In this product update, we bring you a brand new feature that finally brings test mode and live mode together. We are continuing to enhance our Product Builder module as well as a few third party integration enhancements.

On the Documentation front, we are continuing to build more documentation of our platform for you guys to review and follow. Our No-Code DIY digital originations platform continues to grow with your support.

The Decision Engine is at the heart of the bank's core business. Their ability to engage, cross-sell and earn their client’s wallet share is depended on a great deal of a smart decision engine.

What makes a great credit decision engine is its partnership ecosystem. It must have all of the top credit data providers, bank core, card management system as well loan management systems already in place for you to make the best decision possible. We want to talk about the importance of having a strong integration partner ecosystem and how it benefits you.

Are you paying tens of thousand for your credit decision engine that you barely look at? And whenever you want to make a change, hundreds of thousands dollars are spent on professional services with slow response time? We are uncovering the true cost of using a credit decision engine.

This week we bring you another update to our platform. In this update, we enhanced our Product Builder, we introduced a concept called Private Product, we integrated a few Third Party Providers and we cleaned up a few small bugs to make the Decision Tree Builder friendlier.

As some of you guys have noticed, we are adding a slew of sections on our website. We are building our Marketplace, Documentation. We will feature some of these sections in our up and coming write ups. If you want us to concentrate on certain section of the website, please contact us or write to us at info@lendapi.com

We've finished another exciting product update to our loan originations system. In this release, we updated the LendAPI Product Builder to have the ability to have risk based re-routing where an applicant can skip to different pages based on the information they provided as well as the data provided by third party and the decision rules's results.

This article will help you to answer some of the fundamental questions about credit decision engine software and its implementation tasks before sinking your teeth into the most critical part of your bank's new digital transformation.

• What is credit decision software?

• How does credit decision engines work?

• The benefits of using credit decision software.

• Where can you buy one or rent one? 

• Whom do you need to hire to run a credit decision software?

• “How long does it cost and take for a full integration?

From an architectural perspective, decision engines and rules engines are the same. They both operate on basic logical and mathematical principles. They both use if, then, else logic to process information and render a decision.

The blog "Credit Decision Engine - Bank Account Originations Software" emphasizes the critical role of a robust credit decision engine in the bank account origination process, particularly focusing on the challenges and requirements of Know Your Customer (KYC) procedures.

Decision Engine has become a crucial component in fraud detection within the banking industry. Fraud comes in a variety of forms. We will define all types of fraud and how decision engines can play a major role in helping banks and financial institutions to detect, deflect fraud and prevent losses.

If you are reading this article, you are probably looking into whether to build your own credit decision engine or rent one that’s already out there. These decision points however trivial need a closer examination because it could speed up or delay your product launch.

In today's fast-paced world, businesses are constantly striving to enhance their customer experience and streamline their processes. One area that has seen significant advancements is the lending industry, where technology plays a crucial role in simplifying and automating complex tasks. LendAPI, a leading provider of lending solutions, is proud to announce the launch of its new and fully interactive APIs, set to revolutionize customer onboarding, variable initialization, decision rule triggers, and offer generation. Scheduled for release at the end of June 2023, these APIs are exclusively available to LendAPI's Enterprise customers. In this blog post, we will delve into the key features and benefits of these groundbreaking APIs, highlighting how they can transform the lending landscape.

Credit Decision Engine is the heartbeat of any bank or financial institution. Data is the blood that flows through with each heartbeat. In today’s banking and lending environment, credit decision engines are expected to intake thousands of attributes at the same time and make decisions within a fraction of a second.

Credit Decision Engines are a special breed of rule based decisioning system that helps financial services companies to make smarter and quicker decisions. So what gives the rise of credit decision engines and what’s really going on behind the scenes of a robust credit decision engine system? Today we will explore these topics

Credit decision engine emerged in the past 20 years as a fundamental piece in the overall tech stack within banks, credit unions and financial institutions. With faster computing power and cloud services, calculating complex mathematical models becomes easier and more efficient. Today, FinTechs, Neo-Banks, tech enabled traditional banks are all embracing the need for fast and accurate decision engines. And credit decision engines are a specific breed of decision engine that have a few unique characteristics that we will talk about in this article.

There are over 30 million small businesses in America and it is the backbone of our economic engine. Small businesses employ close to 70 million Americans and it’s driving every bit of our economy across the board.

Banks and especially commercial banks are focusing on delivering banking services and loans to these small businesses to help them grow and therefore help the overall economy to grow. The US government through the Small Business Administration also delivers critical bank and financial services to small and medium businesses to grow.

Whether you are a bank, credit union or a state licensed lender, heck, even a Buy Now Pay Later BNPL player, a credit decision is fundamental to your business. Most often, offerings from banks to Buy Now Pay Later players are in essence a personal installment loan.

A Credit Decision Engine is a specific type of Rules or Decision Engine that memorializes a bank or a financial institution’s directive in terms of granting end users an application for a bank account or a line of credit.

The first set of decisions a bank will make is KYC (Know your customer). Identity verification is part of any bank and financial institution’s critical underwriting process. Identity verification must be done in real time and preferably doesn’t involve complex interaction with their end users. To accomplish quick and accurate KYC and Identity Verification, users must have a robust Decision Engine.

LendAPI is an all encompassing digital onboarding system. It’s not just for banking, lending, mortgage, auto, personal and business loans, it can build just about any onboarding system known to man.

Our eyes are melting, and It's all coming together now: 🤝

Firstly, a huge shoutout to everyone on the LendAPI platform who has been giving us constant feedback and helping us build out our ecosystem. The collaboration with our partners, from identity verification providers to bank core integrators, has been phenomenal. As Fintech enthusiasts, engineers, and product enthusiasts, we're thrilled and grateful for your support!

A decision engine should have a few fundamental core concepts. Such as the ability to construct rules with multiple outcomes, integrated with third party data providers and an open API to take in datasets from a variety of different sources. Some decision engines are messy to work with and require many engineers and analysts to implement rules and ingest data. Some other decision engines have a great deal of authoring capabilities but there’s no integration point to connect to other enterprise software.

LendAPI’s decision engine offers a variety of tools designed for non-technical users that’s completely DIY with powerful API extensions.

One of the core functionalities of a Decision Engine is a visual decision editor. Rules managers or rules engineers should be able to configure any rules on their own without the need of engineering support. The rule's author should be able to define variables and write rules, link to third party integration partners on their own.

People often ask us, "What sets LendAPI apart?" Our answer remains consistent – the power to design your application, craft decision trees for every stage, and showcase consents and documents of your own creation. LendAPI empowers you with unparalleled flexibility to tailor an application flow that aligns with your decision logic and product offerings, making us truly unique.

Decision Engine Example - Identity Verification or KYC with TransUnion TruValidate

Explore these engaging examples of decision engines in the realm of banking and lending. A robust decision engine should seamlessly integrate with diverse data assets from identity service providers. Below is an illustration of using a visual decision engine to craft and execute rules in real time.

We understand that constant updates might seem like a barrage of information, but we assure you that these releases are pivotal, and we appreciate your patience and understanding. Let's dive into the exciting features that LendAPI has recently rolled out!

In the ever-evolving landscape of digital onboarding platforms, LendAPI has been a trusted companion for businesses looking to streamline their processes. As the platform continues to grow and introduce innovative features, a pricing update is on the horizon. This blog post aims to provide clarity on the changes, showcase the additional benefits, and express gratitude to the loyal subscribers who have been an integral part of LendAPI's journey.In the ever-evolving landscape of digital onboarding platforms, LendAPI has been a trusted companion for businesses looking to streamline their processes. As the platform continues to grow and introduce innovative features, a pricing update is on the horizon. This blog post aims to provide clarity on the changes, showcase the additional benefits, and express gratitude to the loyal subscribers who have been an integral part of LendAPI's journey.

Winter has arrived, and with it, LendAPI brings warmth to your coding endeavors with the release of versions 1.5.5 and 1.5.6. In this winter wonderland of updates, we focus on enhancing workflow and process automation, delivering a seamless experience for our users. Let's delve into the highlights of these releases.

Release Notes for LendAPI Version 1.5.2, 1.5.3, and 1.5.4

In the ever-evolving landscape of software development, staying ahead often means embracing change. The release of version 1.5.1 on December 13, 2023, is a testament to this philosophy. This update brings a myriad of enhancements, bug fixes, and new features aimed at refining user experience, improving system functionality, and ensuring a more seamless operation overall.

Excitement is in the air as LendAPI unveils its much-anticipated Release v1.5, featuring the revolutionary "Product Builder." Brace yourselves, because with this release, LendAPI is handing you the keys to a world where your dreams and wishes become reality.

We're thrilled to announce that our community is now 200+ strong on Substack! 🎉 It's a momentous occasion that wouldn't have been possible without your support and enthusiasm for the valuable content we strive to deliver. As we celebrate this milestone, we want to express our heartfelt gratitude for being a part of our journey.

Greetings from Santa's little fintech workshop! 🎅 As we dive into the festive season, we bring you the latest updates from LendAPI. The last couple of weeks have been a whirlwind of activity at our fintech hub, and we're excited to share the enhancements and fixes we've cooked up in the latest releases, v1.4.6 and v1.4.7.

As we approach the holiday season, the LendAPI team is not slowing down but, instead, gearing up to make your experience even better. In the spirit of continuous improvement, we are thrilled to announce the recent releases, v1.4.3 and v1.4.4, packed with enhancements that aim to elevate the accessibility, communication, and overall user experience within our lending platform.As we approach the holiday season, the LendAPI team is not slowing down but, instead, gearing up to make your experience even better. In the spirit of continuous improvement, we are thrilled to announce the recent releases, v1.4.3 and v1.4.4, packed with enhancements that aim to elevate the accessibility, communication, and overall user experience within our lending platform.

On this significant day, November 11, 2023, LendAPI extends its heartfelt gratitude to the men and women in uniform, past and present, who have dedicated their lives to maintaining peace and freedom around the world. As we celebrate Veteran's Day, we reflect on the words of President Woodrow Wilson, who established Armistice Day on this very date in 1919.

LendAPI has been on fire this week with its second release, showing no signs of slowing down. In this latest release, labeled version 1.4.1, the team at LendAPI has fine-tuned the Billings section and addressed several UX issues related to the upgrade path. And here's the good news: the free mode is here to stay! But that's just the tip of the iceberg. Let's dive into some of the exciting highlights from LendAPI v1.4.1

Hello, LendAPI community! We hope you're ready for some exciting news because we're breaking our release cycle to bring you the awesome LendAPI v1.4 mid-week release. That's right, we're shaking things up, and we have a 24/7 development cycle to thank for this special update.

Welcome to our thought-letter! This week has been an exciting one as we've engaged with our valued partners, investors, mentors, and clients. We're thrilled to share some major developments with you. Welcome to our thought-letter! This week has been an exciting one as we've engaged with our valued partners, investors, mentors, and clients. We're thrilled to share some major developments with you.

In the ever-evolving landscape of financial technology, LendAPI continues to set the pace with its groundbreaking innovations. Today, we are excited to announce the launch of our newest product, a Business Lending solution that is set to revolutionize the lending industry. This new offering comes with a flexible Page Builder that allows clients to configure fields tailored to the specific needs of the Business Lending Industry.

We are thrilled to announce the release of LendAPI's v1.3! 🌟 Our team has been hard at work, and we're delighted to introduce several powerful features and enhancements to make your lending experience even better.

In the ever-evolving world of lending and finance, technology has paved the way for unprecedented convenience and efficiency. LendAPI, a trailblazing player in the lending industry, is at the forefront of these innovations. They are about to launch a game-changing feature that will reshape the lending landscape, allowing their clients to configure up to four co-applicants and business owners during the application process. This powerful addition to their platform will enable a more comprehensive evaluation of applicants, significantly enhancing the lending process.

Lenders, financial services companies and BNPL players all want to same thing when it comes to Loan Origination Software: Cost effective, white labeled system that's highly configurable. A visual decision engine where they build their underwriting and pricing strategy would be a plus. Edit and upload consents and sales contracts would be a dream. Read on…

In the ever-evolving landscape of financial technology, staying ahead of the curve is a paramount pursuit. At LendAPI, we take this challenge head-on, continually pushing the boundaries of what our platform can do to streamline lending processes for our valued partners. Today, we are thrilled to unveil a groundbreaking update that promises to revolutionize the way you manage your lending operations: the introduction of new webhook functionalities.

We are all about getting feedback from our users and to do that we need to let folks know what we've been up to. Our modus operandi is to release features on a regular basis. Everything we do here is in accordance to protect our client's data, IP etc. Please take a look at the some of the work we've been working on leading up to our latest release.

We're thrilled to announce an exciting new way for you to stay updated on all things LendAPI – our very own Substack newsletter! 🎉

In today's rapidly evolving financial landscape, the demand for seamless and secure digital solutions has never been higher. Financial institutions, fintech startups, and lending platforms are constantly seeking ways to enhance their services, reduce risks, and provide a better experience for their customers. This is where LendAPI's integration with Plaid comes into play.

In the fast-paced world of lending and financial services, efficiency, accuracy, and seamless integration are paramount. LendAPI, a leading player in the loan origination space, recently made a significant move by welcoming LoanPro as an integrated partner. This partnership is set to revolutionize the way lending institutions manage the entire loan lifecycle – from origination to servicing. In this blog, we'll delve into the power of LendAPI's Loan Originations System and how it's a perfect fit for LoanPro's Loan Management System.

LendAPI Teams Up with TransUnion's TruValidate Identity Insights to Strengthen Financial Security

In the world of banking and financial services, "Know Your Customer" (KYC) is an indispensable element in underwriting decisions. To bolster this critical process, LendAPI is excited to announce its integration with TransUnion's TruValidate Identity Insights product. This collaboration aims to revolutionize identity verification and combat synthetic identity fraud, a prevalent threat in the digital age.

The importance of KYC lies in its ability to mitigate risk, ensure compliance with regulations, and prevent identity fraud. Through TruValidate's Synthetic Fraud Model, the platform accurately detects synthetic identity fraud while providing friction-right experiences for genuine customers. By joining forces, LendAPI and TransUnion are committed to establishing a safer and more secure financial ecosystem, prioritizing trust, compliance, and protection against emerging risks.

LendAPI's Game-Changing Integration with TransUnion's TruValidate Digital Insights. In today's digital landscape, where convenience and speed are paramount, the financial services industry faces an ongoing battle against an ever-evolving army of fraudsters.

The blog announces an exciting integration between LendAPI and TransUnion's TruValidate identity verification tool, marking a major advancement in the lending industry. LendAPI has been known for its innovative lending solutions, while TruValidate offers robust identity verification capabilities. With this collaboration, lenders can seamlessly integrate TruValidate's powerful verification process into LendAPI's platform. The integration enhances security, streamlines the borrower experience, ensures compliance, and enables data-driven decision-making. This partnership promises to revolutionize the lending landscape, providing financial institutions and borrowers with secure, efficient, and customer-centric borrowing experiences.

In today's fast-paced world, managing multiple loan applications can be overwhelming. LendAPI offers a solution by consolidating all your loan applications under one dashboard, providing several advantages. With LendAPI, you can easily track the progress of each application, eliminating the need for constant communication with individual lenders. The platform streamlines identity verification by allowing you to securely upload necessary documents, simplifying the process and reducing delays. Credit-related issues can also be efficiently resolved through the centralized platform, ensuring a smoother loan application process. LendAPI's seamless workflow system saves time and minimizes errors, while trackable email communications provide clear and organized correspondence with lenders. Overall, LendAPI simplifies and enhances the loan experience by offering a centralized hub for managing loan applications. Visit lendapi.com to experience the benefits of a centralized loan application dashboard.

LendAPI's dashboard is transforming the lending industry by simplifying identity verification and credit underwriting processes. This innovative tool empowers clients to efficiently navigate and resolve issues related to these crucial aspects of lending. The dashboard streamlines identity verification through document scanning, biometric authentication, and data validation, minimizing fraud risks and ensuring compliance. It also offers a comprehensive suite of tools for credit underwriting, including credit report access and risk assessment capabilities, facilitating well-informed lending decisions. With a holistic view of lending operations, real-time updates, and issue resolution features, the dashboard enhances transparency, efficiency, and customer satisfaction. By optimizing the lending experience for both lenders and borrowers, LendAPI's dashboard sets a new standard of excellence in the industry.

LendAPI's Decision Engine introduces a revolutionary feature called Derived Variables, allowing users to create mathematical expressions between system and third-party variables. These expressions enable complex calculations and insights for data-driven decision-making. The feature includes functionalities to save and display derived variables in specified numeric formats, enhancing precision and customization. Derived Variables seamlessly integrate with the Decision Engine API, ensuring accessibility and scalability. With benefits such as improved decision-making, customization, efficiency, and integration, lenders can leverage Derived Variables to make informed lending decisions and optimize their operations. To explore this transformative feature, visit lendapi.com today.

In the fast-paced world of lending, making accurate and timely decisions on loan applications is crucial for financial institutions and lending platforms. To address this challenge, LendAPI has introduced its fully customizable Decision Engine, equipped with seamless API integration.

In the ever-changing landscape of financial technology, seamless integration between platforms is key to unlocking the full potential of innovative solutions. LendAPI, a leading fintech platform, is taking a significant leap forward by fully integrating with TransUnion, a renowned credit reporting agency. This integration promises real-time access to credit reporting and scores through TransUnion's API, while expanding LendAPI's credit attribute library to offer a comprehensive set of variables for rule authoring. Additionally, LendAPI's fintech clients can leverage both soft and hard inquiries, enabling them to offer a wider range of products and services. Let's delve into the details of this groundbreaking integration and its transformative impact on the industry.

In today's fast-paced business environment, risk management plays a critical role in ensuring the success and stability of financial institutions. LendAPI, a leading provider of lending solutions, has introduced a powerful tool to streamline risk management processes: the Visual Decision Engine Editor. This innovative software empowers risk management professionals to create and manage complex decision trees easily. With a range of benefits that enhance efficiency and decision-making capabilities, the Visual Decision Engine Editor is revolutionizing risk management practices. In this blog post, we will explore the key benefits of this tool and how it helps financial institutions make better-informed decisions.

In the fast-paced world of lending, professionals are constantly seeking innovative solutions that can enhance their efficiency and productivity. Traditional software engineering and maintenance tasks often consume valuable time and resources, diverting focus from core business objectives and customer service. However, LendAPI's SaaS Loan Originations Platform provides a game-changing solution, allowing lending professionals to delegate the intricate software work to experts, freeing them to concentrate on what truly matters: delivering exceptional customer service.

LendAPI launches a fully customizable, do it yourself digital onboarding solution for bank and financial services organizations to quickly launch their product. The LendAPI's core plug and play onboarding tool has third party integrations completed, decision engine which you can quickly build rules and scores as well as a page builder where all your fields, uploads and documentation signing are fully configurable with ease.

In the rapidly evolving lending industry, technology plays a pivotal role in enhancing efficiency, scalability, and customization. LendAPI, a leading lending Software-as-a-Service (SaaS) platform, offers a multi-tenant solution that empowers lenders to operate their own SaaS lending business while providing flexibility and autonomy to their clients. In this blog, we will explore three key features of LendAPI's multi-tenant SaaS platform: the ability to create unlimited tenants, self-contained white-labeled applications, and customizable decision tree capabilities and offer engines.

In the world of lending, making informed and efficient decisions is crucial to success. With the rise of technology, lenders are increasingly turning to automated systems to streamline their operations. LendAPI, a leading lending Software-as-a-Service (SaaS) platform, offers an array of powerful decision tree capabilities that enable lenders to make data-driven decisions quickly and accurately. In this blog, we will explore three key features of LendAPI's decision tree capabilities: the variable library, the visual decision tree builder, and the ability to stack decision trees.

In today's data-driven world, making informed and efficient decisions is critical for businesses to stay ahead of the competition. One technology that has revolutionized decision-making processes is the API-driven decision engine. By leveraging Application Programming Interfaces (APIs) and advanced algorithms, organizations can harness the power of real-time data and streamline their decision-making processes. In this blog, we will explore the numerous benefits of an API-driven decision engine and how it can empower businesses to make smarter, data-backed choices.

In the ever-evolving landscape of financial services, loan origination systems have become a vital tool for lenders and financial institutions. Among the various options available, white-labeled loan origination systems stand out as a powerful solution, offering a host of benefits that drive efficiency, scalability, and customer satisfaction. This article explores the advantages of using a white-labeled loan origination system and sheds light on how it can transform lending operations.