Dec 30, 2024
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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.
The reasons are all too familiar. The original founders have long since exited, leaving private equity owners who prioritize profits over performance. Many of these platforms are built on outdated and cumbersome codebases, making upgrades nearly impossible without a full rewrite, a task few are willing to tackle. Some providers are even locked into exclusive partnerships, limiting integration options and stifling competition.
It wasn’t until nine months ago, when we launched LendAPI, that the status quo finally faced a challenge. LendAPI is different, the only truly open platform built to integrate with any provider equally. We’ve developed a scalable solution designed to handle millions of transactions daily while empowering our clients to innovate.
Here’s what you should consider if you’re thinking about switching providers or upgrading your homegrown decision engine:
Third-Party Integrations
One of the most frustrating aspects of working with legacy decision engines is their lack of third-party integrations. Adding new ones often takes months and incurs exorbitant fees. This is an outdated and inflexible model.
At LendAPI, we believe in offering choice. Our platform is constantly adding new integrated partners to give clients the best possible solutions. We don’t hide behind expensive integration fees, and we’re committed to empowering our clients to deploy cutting-edge verification models without barriers.
Strategies, Algorithms, and Models
Too many decision engines lock clients into rigid, hard-coded rules. Clients can view these rules but can’t modify them without paying additional fees. This outdated approach hampers innovation and prioritizes profits over client success.
LendAPI takes the opposite approach. We believe in full transparency and user empowerment. Our platform allows clients to modify and implement changes with version control. You can deploy regression models, Python code, and advanced mathematical models directly in our model builder. We even support Amazon SageMaker to ensure your innovation isn’t limited by our platform.
Speed
Clients with high transaction volumes often tell us their current providers can’t keep up. We’ve identified two common reasons:
Serial Processing: Legacy systems process requests sequentially, creating bottlenecks during peak demand.
Lack of Scalability: Poorly designed architectures can’t leverage cloud-based load balancing, leaving systems overwhelmed.
LendAPI’s platform is designed to handle parallel requests and distribute workloads across cloud infrastructure, ensuring consistent performance no matter the demand.
The People Behind the Platform
Behind every decision engine is a team—or lack thereof. Does your provider understand the complexities of banking or lending? Have they built enterprise-grade tools before? Do they offer expert support, or are you stuck in endless ticketing loops?
At LendAPI, we’re different. We built this platform to empower our clients to make critical decisions at the moment of truth. Features like A/B testing, backtesting, and shadow scoring are standard, and we’ve implemented double-approval mechanisms for fintechs interacting with banks to ensure precision and compliance.
A True No-Code Solution
We’ve eliminated setup fees, hourly rates, and long wait times for changes. LendAPI’s Rules Studio, Pricing Engine, Model/Variable Studio, and Credit Risk Management Tools, backed by over 50 integrated partners, give clients the freedom to innovate. No advanced degree is required. Anyone can start implementing sophisticated risk models and pricing algorithms today.
Why Settle for Less?
Why spend another year struggling with a mediocre decision engine that stifles innovation? Why pour engineering resources into maintaining outdated systems that keep you from competing in today’s market?
At LendAPI, we offer a better way. If you’re a fintech, bank, or portfolio manager needing real-time oversight of underwriting rule changes, LendAPI’s tenant management systems provide unparalleled transparency.
Let’s move forward together. Choose a decision engine built for the future. Choose LendAPI.
About LendAPI
LendAPI, “Onboard Anyone.” is a venture backed SaaS DIY platforming helping banks to launch any financial products in minutes.Follow us on Linkedin, X, YouTube,and our LendAPI Podcast and LendAPI Academy. Check out our latest platform videos with the LendAPI v2.5.4 Platform Guide and our Techstars Demo Pitch!