“Freedom to Create” Tour

This week has been absolutely insane. Sam and I visited four states in tow, Georgia, Tennessee, South and North Carolina. We spent almost 6 hours on the road in a car. Talking about a captive audience. We got to know each other really well. We talked about our childhood, how we were both brought up and how we came to the United States as immigrants.  

We both learned a ton from each other and especially all of the startups we’ve built throughout our lives. It was a great time spent together and it reminded me of the time we spent together in New York City going through the Techstars Accelerator Program last year.

We landed in Atlanta and visited one of our bank clients with over 500 branches. A ton of people showed up for the meeting from technology to marketing to data analytics. We showed everyone all of the bells and whistles of what we’ve built in the past year or so. There were a ton of discussions and ideations. We hope more collaboration will come out of our visit. We certainly heard and understood all of the bank's pain points. It’s a great session for Sam and I sitting with actual users of our platform and gave us unfiltered feedback. Thank you.

We spent more time with Equifax in Atlanta as well. We have a lot of work to do and discussed all aspects of our partnership and collaboration points in the future.There are some big things coming out of our discussion in the coming weeks and I am excited about all the ways we will work together to serve their internal and external clients. I can’t wait.

Next week, Eric and I are going to be on the road again back to Dallas, TX. Lend360 lending conference is upon us and we have executive dinners scheduled and a ton of meetings around the conference grounds. We can’t wait to see some of the new and old friends in lending next week.

LendAPI Platform Update - v3.0.2 Release

Okay enough pageantry and let’s get down to business. We released another amazing update to our platform. Our v3.0.2 update has been released with 93 tickets addressing anywhere from enhancements to new features.  

Product Studio Update:

• Sizer: We released a new widget called Sizer. Sizer is a manipulation tool of the underwriting and credit policy a lender would use to “size up” the opportunity. This gives applicants a sandbox to play around with the underwriting credit box before submitting their deals to the bank’s underwriting for final approval. You can also think of Sizer as a dynamic calculator that you can define the data type and data range.

• Slider: We also released another widget for applicants to slide around various input parameters. The most popular slider implementation is the Request Loan Amount. This will give the applicant to slide across the minimum and maximum loan amount for instance and give the underwriter an accurate indication of what they are requesting for. Of course the Slider feature works with just about any numeric variables and it’s all configurable.

Customer Portal Update:

• We have a brand new Customer Portal! We are new unified UI design, our customer portal finally got a refresh and the design and user experience is now conforming with our overall platform design. This new design refresh will set us up for more features in the coming months to give applicants even more features and functionalities.

Lead Generation Control Panel

• We enhanced our Lead Buy API with some additional restrictions around Minimum Bid Price.

Integration Partner Updates:

• We perform some refactoring with Ocrolus and Prism Data for our clients. We are good to go now.

• We also did some refactoring with TransUnion to pass the correct middle name field on their API.

• We performed some additional enhancements to GoHighLevel or GHL as well for our clients. GHL seems to be a popular CRM lately with our clients.

• We refactored some Plaid code to pass the right Routing and Account number.

• We also enhanced our Equifax integration protocol to pass Date of Birth correctly in some of their APIs. We also enhanced a few OFAC and MLA mismatch rules within our Equifax integration.

• We also added LoanPro amortization table variables inside of our variable table for our clients to write rules reacting against the LoanPro variables.

• We integrated with Lithic, a formidable card issuing platform.

• We finished our integration with Vergent LMS as well. 

There are so many small features and bug fixes we won’t have time to mention but rest assured that we are working 24/7 for you, our clients. Don’t hesitate to reach out to your CSMs and ask them to resolve issues, build new features. We are all here for you.

LendAPI Partner Podcast

We have a brand new episode featuring CEO and Founder of Edge, Brian Reshefsky! Edge is a brand new CRA and they are all about that banking data. I’ve recently recorded another podcast with Brian but that won’t come out for a while. To hold you over though, check out his episode right our LendAPI Partner Podcast! 

LendAPI Partner Podcast with Brian Reshefsky, CEO & Founder of Edge

If you are looking for a platform to tell your story, please reach out to us. We will be happy to get you slotted in with our Podcast Host Rutger van Faassen from Information Banker!

LendAPI Academy

One of the most powerful features of our platform is our Model Studio and this episode of the LendAPI Academy focuses on how to set up data assets within the model studio in order for you to build derived variables, logistic regression models and machine learning models.

LendAPI Academy - Model Studio - Setting Up Your Data Sources

If you want to experience the platform yourself, please sign up with a free trial at www.lendapi.com and click on the “Start Free Trial” button.

LendAPI FinTech Marketplace

We’ve been showing off LendAPI’s Doc AI product all week and it reminds me of all the episodes I recorded for Doc AI. It’s a life changing tool for any banks, lenders or retailers needing to scan documents as part of their originations or loan management processes. 

Check out these episodes that yours truly recorded on Doc AI, here.

Introducing LendAPI Embarc LMS

Ever since we’ve doubled down on our Embedded Finance strategy, we’ve been hearing from our point of sale and BNPL clients that the current loan management system in the current market doesn’t satisfy their post origination needs and we listened.

Our embedded finance clients want to have functionalities for their brokers, stores and branches to control. They want their merchants and vendors to be paid with conditions and they want visibility from all affiliated parties to look into the entire loan life cycle. 

We listened and we introduced Emarc LMS, a loan management system with a sharp focus on embedded financing and meet the need of all point of sale financing, BNPL lenders as well as large national retail clients to manage their clients post originations activities.

Check out this new blog we’ve written introducing new features.

What’s Next?

We’ve seen an early version of our Report Builder 2.0. This is a reporting service, report builder built from the ground up to enhance our current reporting services. We’ve given out credentials to a few internal users and they are now testing all aspects of how to build new reports from scratch, schedule reports to be delivered on a timer or integrate into Slack. We can’t wait for this new functionality to be made available for all of our clients to use very soon.

Embedded Financing Widget 1.0: Sam and I had a conversation about this while we were driving around in the middle of nowhere in North Carolina. We will make our product truly embedded and flush to our client’s web presentation. Our existing pop-up solution is working but to have an even more seamless experience, we will work on this and embed our entire experience as part of our clients’ website.    

SMS Platform 2.0: We have some immediate features we are working on such as sending templated messages within the SMS Platform. So these messages are compliant and enforceable by our client’s compliance department. Video conferencing and deep linking (link to pay, link to sign) are all in the works. If you have an urgent need to use these new features, please let us know.

The Co-Applicant: We are testing this new widget flow now. This is a very complicated design, one that will add a lot of functionality and flexibility for our clients. Once the testing is completed, we will release this feature to a few of our internal clients and let them tell us what to do next. 

Lead Generator Control 2.0. We are first separating some of the features in Tenant into our Leads section. Some of the controls such as our Lead Generator Control belong in their separate architecture.

Lender Control Panel 2.0: We are digging deeper in how lenders are managed on our platform as well for clients that want greater control over how they are managing their private bank partners.

About LendAPI

LendAPI is a super orchestration platform that helps banks, fintechs and retailers to launch embedded finance products instantly. Start a free trial at www.lendapi.com. Follow us on Linkedin, X, YouTube and our Weekly Newsletter with our Marketplace Slack Community.

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