Underwrite AI gives you the ability to add as many AI Agents as you’d like and these AI Agents can act as your assistant to make quick and witty decisions from a complex web of guidelines. This is especially useful for financial institutions where large soft guidelines need to be analyzed, traditionally by a risk manager. LendAPI’s Underwrite AI will act as your risk manager's co-pilot and help them to make quicker decisions and react to their applicants needs. We are happy to show you a demo, please contact us.

This week we also launched a Texas based subprime lender. Together with a few of our partners such as Answers ETC (T3), we got this lender up and running with the underwriting complexity they need to get to better decisions and loan performance. Next week, we will launch another client in the embedded finance space. We’ve been working with this team since late last year. Every bit of the mobile experience is tested and tested again. We want to thank both of these clients for making us a better platform and better team. 

We also released a ton of new features and elements that will help our client to launch new products instantly. We are working towards that goal like nobody’s business. Sign up today on our website. We have a 14 day free trial for you to experience all we have to offer. 

Sam and I had a great time hosting over 100 fintech friends at Sorry Not Sorry in Los Angeles for the LA FinTech Connect event. Drinks, Food and a little bit of Southern California marine layer all came together at the last minute. We want to thank Seth and Logan for hosting this event time and again and we saw a few of our clients there as well! We shall do this again.

We have a new full stack engineer starting tomorrow! And we are fortunate to have another Engineering Manager to start in our Irvine office in one week! We can’t wait for both of these guys to get started and help us to build more.

LendAPI Partner Podcast

We have new episodes being recorded as we speak and we will let ya’ll know as soon as it is available for prime time. For now, please enjoy one of our previous episodes with Peter Renton of Renton & Co!    

LendAPI Partner Podcast with Peter Renton, Founder of Renton & Co.

LendAPI Academy

We are putting the finishing touches on a few LendAPI Decision Engine 2.0 episodes and working through some audio issues. Until then, please take a look at one of our more popular episodes on mortgage lending.

Mastering Decision Trees for Mortgage Loans

LendAPI FinTech Marketplace

We want to welcome Axle to our marketplace as our 208th member! Axle Automation creates AI Agents for financial services companies to quickly render through KYC, AML cases. Check them out on our FinTech Marketplace. We’ve also worked on a new cover page for new marketplace joiners to show off their brand. We have another 5 in the works and we will announcing them shortly!

We also celebrated another group of members in the LMS, BankCore and CardCore space. Here’s the celebration page: LendAPI FinTech 200: Powering the Future of Lending, Banking, and Card Servicing

LendAPI Career

We continue to look for talents in our US, India and Latin America office. Check out these roles right here on this career page. 

LendAPI Platform Release Notes - v2.8.2

Overall Platform Enhancements

Tools - Underwrite AI

We’ve finally announced the arrival of “Underwrite AI”. We’ve been working on this new tool for months and it’s finally here. The first iteration is an OpenAI integration. You can create as many AI Assistants as you wish in the Scale Edition of our platform. Each AI Assistant will be able to parse through hundreds if not thousands of credit underwriting criteria for the most complex decisions made by large financial institutions.

Each application that is analyzed by LendAPI’s Underwrite AI has its own history so you can go back to each application and review the result of the AI analysis without the results being cross-contaminated into other applications. This will speed up the traditional underwriting process by a wide margin. We can’t wait for you to use it.

Underwrite AI is tightly integrated with our Agent View (Applications) that the result of the Underwrite AI will be displayed within the Agent View automatically when the application is being adjudicated by LendAPI’s AI Assistants.

In our future release, we will provide a prompting feature for human agents to interact with AI agents. 

Admin View - Application View

• Due to popular demand, we added humanity back into our tool. Now a human agent can trigger emails from all the decision outcome events on top of decision engine driven outcomes. We gave the power back to the people and it feels so good.

• We made some enhancements to the UI of the application view to make it more user friendly.

Platform - Subscription Management

• We added a trigger email to remind client admins that their free trial period is coming to an end.

Platform - APIs

• We added a new endpoint to our Create Application API where a password reset request can be sent.

Rules Studio

• Variables selection drop downs from the rules writing UX won’t show any derived variables or models that are unpublished.

• We implemented a new Price Reject model within our Rules Studio. It will help our lenders to better manage their lead purchase decisions when they interface with online lead auction warehouses. For example, if they see a potential lead and they would like to purchase this lead at $5, the new Price Reject model will wait until they see this lead fall to the $5 purchase price.

Model Studio

• We are now throwing an error when someone’s trying to edit a variable that’s currently in use. We also made an UX improvement where unpublished models don't show up in the Rules Studio’s model drop down menu.

• Product Studio

• We are replacing some UI modules to bring in a more customizable module to match our design in a pixel perfect way. We will slowly replace design elements going forward to make this new design module a reality.

• We’ve made some UI enhancements to our page transition from page to page and from tool to tool. This will make it a much better user experience.

Marketplace

• We optimized Plaid’s payload return time to give us enough time to receive Plaid IDV results.

Errata

• We fixed some UI issues during the sign up process where the company name is not displaying in the faux badge created.

• We fixed an issue where a CSV file is being uploaded.

• We also fixed a little bit of a screen refresh issue in our Product Studio.

• We fixed an automatic logout issue especially when the user timed out in the sandbox environment.

• The Edit Application button was not triggering the re-run of the decision engine. It is now fixed.

What’s Next?

We have a ton of new clients signed up on our platform and we are busy getting them onboarded and developing new features at the same time. In the coming weeks, we will be releasing a new Black Box tool for lenders and banks to implement even more complex credit risk models with ease. In addition, we are working on a multi-lender matching platform where one application can be matched with multiple lenders or financing partners through our client. 

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.