Aug 17, 2024
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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.
New Client Announcement - Auto Lending
LendAPI is proud to onboard another amazing team and their personal finance product on our platform. This is a brand new company that will be offering secured personal loans securitized by the applicant’s vehicle.
Client Details
This client has a ton of prior experience in subprime personal finance space and is launching a brand new portfolio in the auto lending industry.
Why now?
In today’s credit and borrowing rate environment, to lower the cost of finance, collateralized loans have become more popular. Banks are offering HELOCs left and right to lower the cost of finance by leveraging the equity built up by homeowners.
For those that don’t have larger assets and don’t need to borrow hundreds of thousands of dollars, they can put up their vehicles as a collateral to obtain a lower costing financing option.
Why LendAPI?
This client picked LendAPI for our comprehensive solution from customer experience builder to visual decision engine tool and especially integrations to all the important third party that they need to properly underwrite the client as well as the vehicle.
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 partners 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.