We want to highlight a few things. First, we welcome Chirp to our marketplace and an integration partner. Chirp allows lenders and banks to access their client’s banking information across thousands of banking connections. We are also working with Pave to interpret banking transactions from Chirp as well as from many other banking integration partners. We look forward to our common clients taking advantage of this latest integration with Chirp.

We also want to talk about DataX, an Equifax Company. DataX was acquired by Equifax a while ago and folks are still finding a ton of value in their IDV and credit product. If you are in the near-prime and subprime lending space, you should take a look at DataX and how they can help you with fine tuning your underwriting. DataX is now an integrated partner and available on LendAPI’s platform now.   

We have some awesome features in our v2.5.1 release. Chiefly, we launched a new chat function where administrators, underwriters or whomever with permission can leave comments and chat with applicants. We are deploying this functionality into our Document Center where a lot of back and forth with the applicants may take place. 

This function is hotly requested by one of our clients where a massive amount of documents needs to be uploaded and adjudicated for their commercial lending activities and this chat function will help them tremendously to move their commercial applicants through the underwriting process as quickly as possible.

Lastly, we are hosting LA FinTech Happy Hour with This Week in FinTech! If you are in town on Oct 17th. Join us at SorryNotSorry in Santa Monica at 6pm PST.

We are also presenting in San Diego at Plug and Play’s San Diego Showcase Event on Wednesday Oct 2nd 2024. This is a completely sold out event, event link here in case some tickets are released between now and the event date.

We also pulled “Pricing” out underneath the Resources drop down on our website.  

Send your love to info@lendapi.com as usual and say hi on our social media pages. Here’s what’s really happening in v2.5.1  

Overall Platform Updates

• We enhanced our internal platform’s email communication upon new client sign-up. These emails now have a flag that tell us whether someone signed up successfully or failed to verify their email or phone number. This is for internal use only but available in platform update v2.5.1

• We released a new Chat functionality in the Document Center. This allows LendAPI users to chat or leave comments with applicants that need further assistance with uploading or re-uploading certain documents. This is released in v2.5.1

• We also implemented this chat and commenting feature (no duh!) in the Applicant’s Portal as well where the applicant can send messages and chat with the administrators or underwriters. This is now released in v2.5.1

• We further optimized the application page load speed. This is now released in v2.5.1

Product Studio 

• In Preview Mode, we added back the “Continue” buttons between pages to make the preview of what you’ve built as realistic as possible. This is released in v2.5.1

• We resolved a bug where it crashes the Product Studio page building process when a certain type of Control is added to the page. This is now fixed in v2.5.1

• String variable type can now be displayed with a “%” inside of the string. This is released in v2.5.1

• We released a module in Product Studio to calculate the first payment date to be made available for various loan management systems. This is now available in v2.5.1

Rules Studio

• We now have a function in the administrative portal to deactivate Webhooks all together. This is now available in v2.5.1

• We are also saving all webhook events in the database and allow 3 retries in the webhook call. This is now released in v2.5.1

• LendAPI LeadBuy API now has natively run ssn, mobile and email velocity rules as part of the initial screening process. This is now available in v2.5.1

• We added LendAPI’s LeadBuy API with Campaign ID and Campaign Key (optional) field as part of the lead purchase process. This is available in v2.5.1

• LendAPI LeadBuy API is now supporting a multi-tenant process where multiple lenders can use this API and LendAPI will handle them from a multi-tenant perspective. This is now available in v2.5.1

Pricing Engine

• We deployed a new offer/pricing table more fitting to near prime and subprime lenders. This is now available in v2.5.1

Reports Studio

• No changes

Sub-Tenant Admin Features

• There was a bug that didn’t allow the active flag to be saved in our Tenant management panel. This is now resolved in v2.5.1

• Tenant names will be dynamically displayed in the mobile number verification process. This is released in v2.5.1 

Integration Partners

• We are proud to announce the long awaited integration with Chirp. The Chirp widget is now in the Product Studio as a widget where our clients can drag that widget right into their page building process. This is finally available in our build v2.5.1

• We have further identified additional data and attributes from Decision Logic to present banking information as well as payroll information during the applicant sign in process. These new attributes are now available in v2.5.1

• We have another new integration partner, DataX, an Equifax Company. If you are doing work in the subprime or nearprime space, you should consider using DataX in your underwriting waterfall. This is now available in v2.5.1

• We now have a flag in our API to turn on or off Flinks integration depending on the risk profile assessed prior to calling Flinks. This is now available in v2.5.1

• We’ve completed our site-to-site integration with UGA Finance on delivering completed loans to their servicing platform. This is now released in v2.5.1

• We have completed another API integration with Totality to display payment schedules inside of the promissory notes or loan agreements. This is now released in v2.5.1

• We implemented another API with Totality to set the loan status to “Approved” once the loan agreement has been signed. This is released in v2.5.1

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!”