LendAPI is able to work with multiple data providers in the areas of commercial and business identity to commercial credit and financial information, we are the one stop shop for all commercial lending needs. 

Leveraging our partnership with Equifax, we have now integrated with all Equifax commercial bureau products and their leasing bureau for good measure. If you are a serious commercial lending company and looking to switch to a complete commercial lending platform, LendAPI has you covered with all the latest commercial lending related data providers at your fingertips.

Combining these powerful sets of data along with our rules studio, you can design and build any type of commercial lending logic right into our system using pre-integrated connectors as well as various search engines we’ve implemented into our system.

We will have more on this KYB search functionality and other commercial bureau data sources in our detailed release notes below.

LendAPI Partner Podcast

In this episode, Rutger van Faassen interviews Jamie Twiss, CEO of Carrington Labs, to explore how the company rethinks risk analytics and credit modeling through behavioral insights and data-driven innovation. Born out of a mission-driven lending business, Carrington Labs is focused on building more inclusive, efficient, and intelligent lending solutions using automation and AI.

LendAPI Partner Podcast with Jamie Twiss, CEO of Carrington Labs

If you want to keep the conversation going, please join our free LendAPI Marketplace Slack Community. Where you can meet other FinTech executives and our FinTech Marketplace members.

LendAPI Academy

We can stress how important it is that our Rules Studio and Decision Engine is the most visual and powerful decisioning software our clients have been raving about. We’ve been continuously improving the workflow of our rules studio and it’s better than ever. Take a look at the first episode our Head of Product, Kay Feng has recorded in our LendAPI Academy.

A Look at Our New and Improved Decision Engine

LendAPI FinTech Marketplace

We are nothing without our FinTech Marketplace. Did you know that 30% of our FinTech Marketplace members are integrated with the LendAPI platform to become LendAPI’s Integrated Partners? 

This week we want to feature a FinTech Newsletter, FinTech Wrap Up to our marketplace as our 231st member.

LendAPI Platform Release Notes - v2.8.8

Know Your Business - Complete KYB Search

• We created a whole new section of our platform for you to conduct searches of any business under the sun. We can pull their firmographics and financials by searching name, address, EIN, even LinkedIn URL and much more. 

• You can also create a portfolio of search results for further analysis. This powerful tool gives you the ability to research, conduct KYB or Know Your Business portion of underwriting all in one place. 

• You can create as many portfolios for different purposes to save your results. You are able to download the search results with a download button to export the researched results.

Email Template - Upgrade 

• We’ve done some upgrading to the email template variable UX. The name of the variables is now matching to the Product Studio’s variable drop down. So when you are composing emails, you can link to the same variables you’ve used while constructing products in the product studio.

General Platform - Updates

• We’ve updated the error messaging in our platform in a global way so the look and feel of these warning messages is consistent throughout the platform.

• We’ve removed the Starter Plan from our platform. We experimented with this product and pricing and we feel that it doesn’t provide the best value to our clients. New LendAPI clients can start with our launch plan starting from today.

• We’ve also increased the loading speed in our Product Studio by fetching information from each page individually as opposed to loading in the entire product build out in whole.

• We’ve synced up time used in our platform to the client’s setting section of the platform. 

Product Studio - Headless API

• We finally created a headless API for anyone to interact with each individual page in the product studio. This is a powerful API that makes our platform completely extensible from the top to the bottom. Users don't have to call the application and then the associate underwriting and pricing individually, all can be done with one API call and our platform chainlink rest of the decisioning process configured in the Product Studio UI.

Product Studio - Updates

• We’ve updated the variable dropdown name to give the users more context whenever they are building your product. It’s now more intuitive than ever.

Lender Marketplace - Updates

We made some enhancements so the Lender Marketplace’s individual lenders configures will show their individual pricing information. This makes it easier for our clients to understand the complexity of their lender’s configured loan terms and pricing strategy.

Errata

• We fixed an issue where if our client doesn’t have any subtenants configured, the entire Tenant feature is missing.

• We fixed a small issue with our Checkbox item in the Control section of the product builder. It’s related to checking and unchecking the programmed checkbox.

• We fixed a minor issue where decision trees weren’t able to be assigned to specific tenants.

• We fixed another issue relating to having the same email being used in different applications. This allowance setting is now fixed. Clients can choose to have this functionality turned on or off.

• We fixed a ton of other bugs and probably too gnarly to list them all here. In the future release notes, we will completely forgo this section of the release notes as we are entering a more matured phase of our company. Our QA Engineering team has done a phenomenal job on detecting minute issues with our platform and these errata are becoming more and more nuanced and we think it’s probably best to keep these incredibly difficult to describe bugs to ourselves. Thank you.  

What’s Next?

The more we do, the more we have left to do. Does that sound normal? Well it is here at LendAPI. Not only do we constantly release features and functionality that we know you will like, we also keep our ears to the ground and listen to what our customers have to say.

One of the biggest features we’ve been raving about is our Model Runtime Environment where you can upload model binaries such as Amazon Sagemaker, PMML, Pkl files directly into our system and all you have to do is mapping your input and output variables. 

We believe that our Model Runtime Environment has never been done before and we are just the team to take on this challenge. I am happy to report that this functionality is almost done and we are putting some final touches on it. We hope to release this feature in the next week or so. Yes, weeks, not months or years. We can’t wait to show you how this feature will forever change the lives of data scientists, credit risk modelers and chief credit risk officers.

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, Lender Marketplace, Academy, Podcast, Capital and our Weekly Newsletter. Introducing our new community LendAPI Marketplace Slack Channel.