Why This Integration Matters for FinTechs and Lenders

Equifax brings an extensive suite of consumer and commercial credit solutions, along with powerful employment verification tools like The Work Number®. By integrating some of these solutions directly into the LendAPI platform, we're creating a unified solution designed specifically for the fast-paced FinTech environment. This integration empowers both FinTech companies building innovative solutions and traditional lenders seeking to modernize to access rich data sources with increased speed and efficiency.

This collaboration offers a seamless experience for FinTech clients who need top-tier data to drive their credit models and underwriting strategies, as well as lenders who want to enhance their existing processes. The benefits extend even further:

• Accelerated onboarding: We'll significantly reduce onboarding time for Equifax clients onto the LendAPI platform, enabling quicker integration and deployment for both FinTech startups and established lenders.

• Meeting customers where they are: LendAPI provides easy access to Equifax data and solutions, helping improve operational efficiency for FinTechs developing new applications and lenders streamlining their workflows.

• Customer experience: Lenders can improve the lending process with enhanced decisioning and solutions that optimize new account openings and customer satisfaction, while FinTechs can leverage these tools to provide seamless and innovative customer journeys.

Designed for the Speed of FinTech and Lender Modernization

Today's FinTech companies operate in a dynamic landscape, requiring agility, rapid testing, and confident launches. Similarly, lenders are seeking to modernize their systems and processes to stay competitive. This integration directly addresses these needs. By combining LendAPI's platform with Equifax's robust data and analytics capabilities, we're empowering both groups to deploy custom models and integrations at a pace that aligns with the industry's rapid innovation cycle.

As Timothy Li, CEO of LendAPI, states: "This strategic alignment signifies a crucial shift in the FinTech industry and the lending landscape. Modern infrastructure demands deep collaboration between platforms and data providers. We believe this marks the beginning of a new era for distributing and scaling credit data and decisioning tools for both FinTech innovators and traditional lenders."

A Shared Vision for FinTech and Lending Advancement

LendAPI and Equifax have a history of successful collaborations, and this integration formalizes our shared vision: to combine our strengths and deliver unparalleled value to both the FinTech market and the broader lending ecosystem.

Bennett Kreiger, Director of FinTech Lending at Equifax, emphasizes, "Working closely with LendAPI provides a streamlined pathway to deliver Equifax’s data assets quickly and efficiently. This integration is centered on expanding access and accelerating outcomes for both FinTech companies and lenders seeking to enhance their operations."

The Road Ahead for FinTech and Lending Innovation

This is just the beginning. We're actively engaged in integration and development efforts to bring more Equifax products onto the LendAPI platform. If you're a FinTech company developing cutting-edge solutions or a lender looking to improve your credit decisioning process, we invite you to explore the possibilities unlocked by this new venture.

Stay tuned for further updates as we continue to innovate and enhance our offerings for both the FinTech and lending communities.