A ton of companies are making announcements at the show and we are as well! We’ve released one of the hottest requested features in v2.5.7, “Backtest”.

Backtest is the ability to test previous applications with newly designed credit underwriting strategies and/or pricing strategies. FinTech and Bank professionals historically need to work with their IT counterparts to run complex scripts to see the impact of their newly designed strategies. We’ve completely transformed their workflow and made it into an easy to use tool right inside of the LendAPI admin dashboard!

This feature is available today in the Platinum edition of our platform. We offer an unlimited number of tests, reports and you can test any strategies simultaneously. If you have any feedback on this feature, please connect with us at info@lendapi.com or talk to us directly within our established Slack channel.

In the next coming weeks, we will be releasing a few more features such as A/B testing, where we allow you to test a certain percentage of traffic through newly “back tested” strategies in production mode. We will set a timer on these A/B tests and when the test expires, reports will be generated for your review.

Lastly, towards the end of next month, we will preview another feature called “shadow mode” where you can run any strategy in the background and reports will be generated to let you know how your strategy would have performed if it was turned on in production. This will act as a security blanket in case the new strategy is not producing results as you had hoped without impacting production results. 

We are adding a new “Tools” section to our release notes to keep you guys updated with all the exciting developments within that section.

Oh one more thing, we fine tuned our key queries and sped up the platform by at least 50%! We’ve been nerding out on the results all week.

Here are all the details in v2.5.7

Overall Platform Updates

• We released a slew of new automated testing APIs. This is for internal use however this will have a major impact on the quality of our releases going forward. These internal tools are now available for us to use in v2.5.7.

• We implemented more consistent waiting cursor animation across the platform. This is released in v2.5.7

• We did some menu item cleanup in the Document Library. This is released in v2.5.7

• We cleaned up some text fields within the application dashboard. This is released in v2.5.7

• We fixed all date sort issues. This is resolved in v2.5.7

• We resolved a few issues in the application dashboard page. This is released in v2.5.7

Product Studio 

• We cleaned up a few CSS (UI code) implementations to make the application even more responsive and mobile friendly. This is released in v2.5.7

• We resolved a few issues on the left navigation bar to make spacing between each section and subsections better. This is released in v2.5.7

• We added screens and widgets where a user can interact with VehicleDatabases.com requirements. This is released in v2.5.7

• We added functionality to make Title Loan lenders' application and product look better on certain pages. This is released in v2.5.7

• We also made some improvements to make the BNPL client’s application experience better, including scroll controls to advance from consents. This is released in v2.5.7

• We corrected a certain field in the application building process to be optional. This is released in v2.5.7

• Contract agreements for credit card applications should show card servicing information such as PSCU’s information. This is released in v2.5.7

Rules Studio

• We implemented rules resulting in DecisionLogic’s integration and output. This is implemented in v2.5.7

• We fixed a decision tree cashing issue preventing trees from not rendering correctly when we have a new release. This is fixed in v2.5.7

Pricing Engine

• In the API section of the Pricing Engine, we are now displaying a full CURL command for you to interact with the pricing engine directly. This is released in v2.5.7

Reports Studio

• No changes

Tenant Admin Features

• We resolved a few issues with Tenant related variables when you are onboarding tenants with the Tenant Onboarding application. This is resolved in v2.5.7

• We fixed an issue with the back button in the tenant details page. This is resolved in v2.5.7 

Tools

• We released a brand new tool called “Backtest” and it’s magical. You can use this tool to test new strategies with historical data and compare your current strategy with your new strategy with test result reports. This is now available in v2.5.7

Integration Partners

• We made each partner into its own module. This is a behind the scenes change. What this will allow us to do is to chain some of the integration partners together better such as Plaid with Pave or Chirp with Bankuity. This is released in v2.5.7

• Plaid dialog will be using the parent tenant’s corporate name. This is released in v2.5.7

• We added a brand new partner Bankuity to the integration partners panel. This is released in v2.5.7

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 “LendAPI Platform Demo Video!”