New Client Announcement
Aug 29, 2024
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.
New Client Announcement - Embedded Financing
LendAPI is proud to work with another amazing team of finance professionals specializing in outdoor equipment with thousands of retail and e-commerce clients.
Client Details
This client has been in business for over a decade working with an existing platform that lacks risk based pricing, tenant management functionalities and difficulties in terms of making changes to underwriting decisions and pricing strategies.
Why now?
In order for this client to grow both in terms of client base and product set, they are looking for a platform which can assign specific underwriting criteria as well as pricing strategy that goes beyond risk based pricing. We are able to run specific underwriting and pricing decisions not only by store but by product types within each store (online or retail).
This enables the client to underwriting deeper and expand their credit offering across a larger set of products and clients.
Why LendAPI?
LendAPI goes beyond risk based pricing. We have the ability to assign underwriting decisions and pricing algorithms at the finest level possible. Each product at each location (tenant) can assign their underwriting path and pricing strategy. This provides infinite flexibility for this client to broaden their offering.
LendAPI’s competitive advantage
Our competitive advantage is quick integration, quick launch, cost effectiveness and most of the third party integrations are already done to give our client a chance to go-to-market quicker. The client also has a growing team and they would rather focus on marketing, sales and customer care than engineering resources.
LendAPI’s key functionalities for this launch
LendAPI’s Embedded Financing (check out button) scripts to launch an unique check out experience.
Ability for store clerks to enter the final MSRP and fees associated with that shopping session and generate a final lease to own, or promissory note for the customer to sign while in store.
About LendAPI
LendAPI is the only digital onboarding platform for banks with a suite of Product Studio, Pricing Engine and Rules Studio working in concert all in one platform. Follow us on Blog, Linkedin, X, YouTube.