I am hearing them sending links, getting clients pre-approved while talking to other vacationers and other passersby. They are the envy of a lot of people and I didn’t see them struggle with technology or writing code or struggling with data, risk or tech team.

From what I can tell, they are ready-made technology and provide great customer service over the phone and talking to their bankers. Everyone seems to love these guys.

We aren’t saying that with LendAPI, you too can live a lifestyle of travel and work but it might come damn close and here’s why.

Speed to Market

The ability to launch your product with speed is key. The lending market is shifting in real time. Whether you are selling mortgage products or matching borrowers with personal loans, your speed to market is key to capture major events ahead of your competition.

LendAPI’s Rules Studio and Decision Engine enables you to launch any decisioning strategy without ever having to code or hire a team of experts. Our drag and drop feature allows you to build any decision trees, design any custom variables, launch any regression models right at your fingertips. 

We have 50+ of your favorite third party integrations partners that you can pick from and use without having to spend a month to integrate. From identity verification bureaus to credit bureaus to cashflow analytics firms. These companies' API is already plugged into our platform and ready for you to use to build rules and models based on their scores, attributes and variables.

Linking third parties, mapping third party variables and laying down rules will take a traditional bank with proper resources a year to accomplish. With LendAPI, one person with any skillset can build and launch their rule set within an afternoon.

Change at the Speed of Demand

Implementing the initial rule set is one thing, but making changes or test with multiple strategies is an entirely different task.

Many banks and lenders are stuck on models and strategies implemented several years ago. The market condition has shifted but their risk and pricing models are outdated. These banks and lenders have to resort into augmenting their customer servicing standard operating procedures to protect their portfolio.

Controlling for credit risk downstream is the most costly way of controlling credit underwriting. Risk professionals are constantly struggling for technical resources to implement new rules and models to control risk and these delays are costing lenders and banks millions in opportunities, worse, credit losses. Oh, and these guys sitting next to me are now flittering with ladies. Oh, what it is to be young again.

LendAPI’s Rules Studio allows risk professionals to add, change and update their rules with versioning at any time. We even have multiple levels of management control where another team will need to login and approve the new rule before implementation.

Risk folks can also run back testing, a/b testing and shadow testing to ensure the proper implementation of these new rules before going into production. These features do not exist anywhere and often require years of development from their technology counterparts to set up these tests and they are often done incorrectly.

Data and Compliance

Often, the bank and the lender’s tech infrastructure is not designed for credit risk management applications. They are designed to capture customers and transact with customers in a transactional ecommerce environment. 

Risk management folks need all of the underwriting data saved for further analysis. Risk professionals need all of the decisions results captured. And the compliance department needs all the resulting communications saved such as notice of adverse action.

These datasets and decisioning results are often overlooked by the banks and lender’s internal tech team that could lead to regulatory actions which will result in hefty fines. 

And if originations data from first and third party is not properly stored, the risk and data sciences team will not have the ability to analyze the data and the results to further optimize the application funnel to optimize the approval strategy to improve loan performance and lower cost per funded loan.

LendAPI is designed with risk management professionals in mind. Not only are we saving all first, third party data. Rules outcomes and events which trigger notice of adverse actions are also saved.

On top of it all, each version of the rule set and strategy is saved as well for internal compliance reasons. We preserve every bit of information for risk and data science professionals to analyze and tweak their strategies as they wish.

Zero to Fund

LendAPI allows CTOs, CMOs and CROs plus their teams to work together in one system. Instead of having ideas die in prioritization meetings, they can start building and testing in days or weeks.

We can finally free up software engineers to build tools to acquire customers and back off automation. Risk and data professionals can now focus more time on analyzing data and improve performance by optimizing underwriting rules. And marketing folks can provide API to affiliates and lead generators in real time to funnel more leads into the enterprise.

All of these tasks are automated with LendAPI. We take clients from zero to fund in record time with minimal total cost of ownership. If you would like to give it a try, please sign up today with our 14 day free trial at www.lendapi.com.

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. Introducing our new community LendAPI Marketplace Slack Channel.