Sep 23, 2024
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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.
New Client Announcement - Personal Loan
LendAPI is proud to work with Pave.dev’s team on a common client to launch them quickly, delivering all of Pave’s latest cash flow scores as well as many advanced cash flow attributes. LendAPI and Pave’s team worked diligently to add scores and attributes for this common client to launch their latest cash flow underwriting strategy where it wasn’t possible prior.
Client Details
This client has an existing product and added a brand new product that needed Plaid and Pave in conjunction with an visual decision engine that could let them author as many decisioning paths as possible. All within their own control.
Why now?
This client was working with a LendAPI competitor for 7 months and couldn’t launch due to various technical issues and constraints. This client signed up on LendAPI’s website and within weeks they were able to access all of Pave’s score and attributes through LendAPI’s existing Integrations Partners panel.
In addition, the client was able to launch their decision algorithm without any intervention from LendAPI. They were able to launch their decision trees as well as conducting their internal testing within 20 minutes!
Why LendAPI?
LendAPI continues to provide a transparency and DIY approach for rule building, third party integration as well as expert consulting to help clients to get up and running as fast as possible without expensive setup fees, hourly consultations and months of implementation. We take pride in seeing our clients use the tools we’ve built and create their dream product and processes without any engineering intervention.
LendAPI’s competitive advantage
LendAPI’s competitive advantage is in its ability to let clients launch their product without any engineering support or intervention. As more partners join our platform, the clients will have even more choice in terms of accessing third party data providers.
Our visual rules builder as well as our high speed decision engine returns decisions via API within milliseconds.
From supplying credentials to third party providers, to laying down credit underwriting rules and access decisions via APIs, the entire process takes no more than a few days.
LendAPI’s key functionalities for this launch
LendAPI’s Third Party Integration Platform
LendAPI’s Rules Studio
LendAPI’s Decision Engine
LendAPI’s APIs as well as various Webhook
LendAPI’s application dashboard
LendAPI’s key vendor for this launch
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.