We launched a new client in the past few weeks. This client has been struggling with their existing solution for over 7 months and was dead in the water. We happened to meet them out of the blue on social media. They took a chance on us and the underwriting rules based on cash flow analysis supported by Pave.dev were done in 20 minutes. 

“You guys are doing something right!”, said the CEO. This is what we live for. We want to provide tools that actually work to help fintech companies old or new to achieve new heights where previously impossible.

We aren’t the only people believing in our vision, let me give you a few updates on our fundraising journey. Our Seed round is now closed and the term sheet has been signed. We are heading down a 45 day closing target and we are already back to #foundermode.

We couldn’t be more excited to launch another client in the next few weeks in a complete new market in the commercial lending space. We are launching a new chat feature between administrators and applicants that this client will be taking advantage of first.

We also have a big platform lift release in our 2.5.0 release in the coming weeks and we can’t wait to show you. It will make our platform more robust and our various design studios more flexible and extensible. 

We also finished the first two weeks of Techstars accelerator and we’ve met countless mentors and supporters. Thank you Techstars and thank you New York City.

Overall Platform Updates

• We resolved an issue in User Administration where you can add other platform users. This is fixed in v2.4.9

• We resolved an issue where the Analyst Role can only see applications assigned to them. This is resolved in v2.4.9

• Reviewers can see applications assigned to them only in the Application Dashboard. This Is released in v2.4.10

• We added a new role in User Management, titled Reviewer. This role will only review applicants assigned to them by the administrator. This can be used to invite a third party operations team to review certain applications within your application flow. For example, the lender can invite their bank partners to login as a reviewer to review certain loans they might be interested in purchasing. This is released in v2.4.10

Product Studio 

• We fixed a secured card fee charge error within our API. This is fixed in v2.4.9

• We added a new feature where you can proactively email applicants within the document center to alert them of any follow up activities to move the application forward. This is released for a pending client, but everyone will be able to use it. This is released in v2.4.10

Rules Studio

• We added a new feature to clearly identify the last page of the Product Studio product builder flow. This is added in v2.4.9

• We are now enforcing “null” checks in all webhooks. This is released in v2.4.10

• We optimized our LeadBuy API with more threads to scale our API services. This is released in v2.4.10 

• API calls are now dynamically initiated based on the particular decision tree that was created by the end user. This is enhanced in v2.4.10

• We enhanced our LeadBuy API to parse applicant IP addresses. This is released in v2.4.10 

Pricing Engine

• We added parameters in the newly released Price Engine API. This is released in v2.4.9

Reports Studio

• No changes

Sub-Tenant Admin Features

• We fixed a merchant onboarding data related problem that was causing performance issues. This is resolved in v2.4.9

• We resolved another minor issue within our API to get Sub-Tenant information from the platform. This is resolved in v2.4.10

Integration Partners

• We renamed our Cash Flow Underwriting API to cash_app endpoint. The new enhancement to this end point includes Pave’s Cash Advance and Cash Advance Collections attributes and scores. This is released in v2.4.9

• We enhanced a new endpoint where analysts assigned to a certain application can be removed/released via API. This is released in v2.4.9

• We are setting Null as default when we call TransUnion for OFAC and MLA indicators. This is released in v2.4.10

About LendAPI

LendAPI is the only digital onboarding platform for banks with a suite of Product Studio, Rules Studio, Pricing Engine, Integration Marketplace and Variable Library all working in concert on one platform. Follow us on Linkedin, X, YouTube and our “Two Minute Demo Video!”