This week, we’ve been working hard on some new platform initiatives such as Lender Marketplace where we can enable lenders to work with multiple of their bank partners to fund their loans. We’ve also changed our initial project name for “Black Box” where lenders can easily implement their complex credit risk models to “LendAPI Model Runtime Services”. 

We hope these two new features will be released sometime in early May to support our growth. However, we still managed to release no less than 50 tickets in our v2.8.5 platform release.   

To continue with our community building ethos, we launched FinTech Marketplace Slack Community. This is where our marketplace members as well as the general public can have live discussions about fintech and their product and services live. It’s completely free to join and we hope to see you there. 

LendAPI Partner Podcast

We have a brand new podcast recorded with our partner Mastercard. We are putting the final touches on it and it will be released next week, for now. Please enjoy the most recent episode we recorded with Cold Email Hacker’s founder Justin Chi!

LendAPI Partner Podcast with Justin Chi, Co-Founder of Cold Email Hackers

LendAPI Academy

This week we’ve been knee deep into customer onboarding and training new employees. Take a look at one of the new episodes from last week where Kay, our Head of Platform walked everyone through our new Decision Engine 2.0. 

A Look at Our New and Improved Decision Engine

LendAPI FinTech Marketplace

We want to welcome the brand new FinTech Marketplace Slack Community. This is a new space we created to encourage live conversations of our marketplace members as well as the general public. To join, please check out our community guidelines here and the open invite link is within this blog announcement.

LendAPI Platform Release Notes - v2.8.5

Overall Platform Enhancements

Platform - Sign Up UX

We added more details on the sign up flow to reflect all the functionality for each sign up type. We also fixed a few UX bugs. Most importantly we made the UX of sign up even more intuitive without payment obligations for the 14 day free trial. We also made some OTP enhancements so the users don’t need to type in OTPs if they are navigating back and forth during the sign up process.  

Platform - Compliance

We further enhanced our consent tracking. When an applicant checks the checkbox on any application pages, we are turning this action into a system variable in addition to a system event to further strengthen the compliance requirements from our clients. 

Platform - Product Studio Author UX

We implemented a few warnings for authors of Product Studio. When someone’s trying to remove a tab within an already published product, there will be plenty of warning to tell our authors to be careful of the potential unintended actions. 

Platform - PDF Performance

We optimized the various PDF conversion to speed up the PDF generation process. We also implemented some limitations on the size of the converted files to speed up the response time of the overall application experience. 

Platform - Multi-Offer Widget

We enhanced our multi-offer widget to allow for better user experience and functionality. This widget will allow applications to select offers from multiple offers based on different underwriting strategies in real time.

Platform - Agent Functionality

We added functionality to give the agents more control over how to deal with documents uploaded by the client without having to interact with the clients. Agents can modify and delete and reupload documents without having the alerts the applicants and ask them to perform the task if agents can do it themselves.

Platform - “Underwrite AI” Beautification

We added a few UI enhancements to make our “Underwrite AI” functionalities more pleasing to the human eyes.

Errata

We crushed so many bugs, it will take another five minutes of reading time to read them all. Here’s a quick summary. 

• We fixed an issue with how multi-offers are presented at the same time and sometimes under certain circumstances, it will crash the product studio.

• We addressed an issue where multiple emails were sent without the right event trigger.

• We also fixed a bug on offer presentation under certain circumstances.

• We fixed an issue where the rule studio was causing a server issue when an outcome is not set correctly.

• We fixed a product studio issue when a tab needs to be saved but the subsequent steps were already defined.

• We fixed a “first-page” related issue where it’s automatically saved, when there is only one page in the entire application building process.

• We fixed an UI issue in the Tenant onboarding process to align with the rest of the design library.

• We also fixed an UI issue when the product name is too long.

• We fixed an issue where special characters are used in rule studio causing errors.

There are at least 20 or 30 hard to find bugs that were addressed in this build and it’s too long to describe all of them. 

What’s Next?

We are aiming to release Lender Marketplace as our next big feature which will enable our clients to send the same application to multiple of their financing partners. We are scheduling this to be released sometime in early May.

At the same time, we are hoping that we can make progress towards our Model Runtime Services where lenders can upload any type of container or image or binary that contains their models and manage all of the inputs and outputs themselves to make it a true self serve function.

About LendAPI

LendAPI launches your financial products instantly. Follow us on Linkedin, X, YouTube, and check out our Decision Engine, Product Studio, Underwrite AI, Embedded Financing Product, Marketplace, Academy, Podcast, Capital and our Weekly Newsletter. Introducing our new community LendAPI Marketplace Slack Channel.