LendAPI Surpasses 2.27 Million Transactions on Platform

We forecast that we will reach 3 million transactions overall in the next few days and the system is currently handling 100,000 transactions a day through our platform with ease. Our platform is able to handle 1st, 2nd and third party data and perform complex underwriting models from various modeling tools, regression models, rulesets as well as pricing algorithms simultaneously.

Banks, fintechs and embedded financing firms alike are using LendAPI’s decision engine as well as its pricing engine to generate real time underwriting and pricing decisions in a million seconds. 

Here are some of our key offerings:

• Variable & Model Builder: Our variable and model builder is a do it yourself tool where product and risk management engineers can use 1st and 3rd party variables as well as 2nd party (derived variables) and construct regression models without ever touching code or needing the engineering team’s support. You can create a probabilistic model right inside of our Variable & Model Builder, right out of the box!

• Machine Learning Model Output Integration: If you are using Sagemaker, Pkl files or any types of machine learning modeling tools, LendAPI can easily run your model files in LendAPI’s decision engine without any coding or engineering support. You will have your underwriting models and pricing engines purring in no time.  

• Caching Universe: If you need to cache decisions, third party data and re-run your decisions, our caching database can quickly render a new decision using the previously pulled third party data and produce a new decision within milliseconds. This will save you time and effort and most importantly data cost when it comes to managing multiple applications and decision points per applicant. 

• Integration Marketplace: We are adding on average a few integrated partners per week. Whether it’s credit bureaus, identity bureaus, document processing etc, we have these third party partners already integrated. This means that you just need to drop in your credentials for your favorite third party and variables, scores and attributes from those third parties will be available for you to write rules and deploy them in real time using our Rules Studio and Pricing Engine.

• Model Validation and Testing: You can test your models and decision trees right in the platform without the need of engineering support. You can feed all of the input variables right into the testing module and render a decision manually on your own.

If you want to leverage our high performance, no code decision engine and work with engineering at LendAPI that truly understands credit underwriting, please sign up at www.lendapi.com today and start creating!

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!”