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We’ve launched a large client in the marine equipment financing space. We are grateful for the partnership. We’ve attended several conferences and group outings. We presented at NACUSO, we hung out with Moov and Jack Henry in Miami and we finished off the spring conference season at Online Lender’s Alliance conference in Las Vegas. We are looking forward to AFSA, Money 2020, Finovate Fall and FinTech Futures Award ceremony later this year. We are also actively hiring folks in the areas of Engineering, Product Management and Design, make sure to check out our career page.
Platform Enhancements
We've been working on a few major integrations to support our growing field of clients. We’ve also added some important enhancements to our loan management system, and finally we introduced a new concept to enhance real time calculation driven by application’s field values.
New: Black Book
The biggest difference between Kelly Blue Book and Black Book is that KBB (Kelly Blue Book) is available for the public to get a sense of the estimated value of their vehicle whereas Black Book is for dealers and automotive professionals to get a sense of the auction value of the vehicle in question.
Black Book also has valuation on marine equipment such as personal jet skis, power jets and other marine equipment similar to JD Powers associate’s database, which is also is a LendAPI integrated partner.
Black Book, a division of Hearst. It operates under the Hearst Business Media division and is published by National Auto Research, a Hearst company.
Black Book is now available in LendAPI for automotive and marine equipment lenders to use for their underwriting and validation strategies.
New: Equifax Digital Identity Trust
Fraud is ever increasing and we are adding more tools for our clients to use to validate and verify applicants' digital identity. This week, we are adding Equifax’s Digital Identity Trust to our arsenal.
This tool combines email, phone number, device level intelligence and personal information to provide a comprehensive identity verification strategy. This tool is latest offering from Equifax to combine online and offline digital and physical identity into one solution.
Equifax Digital Identity Trust is now available on LendAPI’s platform. Those that want to beef up their identity verification strategy are welcome to try this new tool and decrease their exposure to verify digital and physical identity.
New: PACER
PACER (Public Access to Court Electronic Records) is an electronic service providing the public with online access to U.S. federal appellate, district, and bankruptcy court documents.
This is an important data access tool for any loan portfolio management professionals to have to pull in the latest information on their customer’s bankruptcy proceedings.
We are able to file documents from PACER integration as well as retrieve bankruptcy details from other PACER endpoints.
This is an important tool for the most discrete lenders to be able to recover their capital through court proceedings via our PACER integration.
PACER integration is exclusively available through our Loan Management System, EmbARC LMS. If you would like to leverage this endpoint, please contact us.
EmbARC LMS Enhancements - Loan Level View
We continue to perfect our loan servicing tool. Based on our customer feedback, we’ve implemented a new way to comb through your loan portfolio. We’ve implemented a loan level view where servicing staff can summarize all their entire loan book at each loan level.
As a reminder, you can also browse your loan portfolio at the customer level. We added this additional layer to flatten the list view at the loan level.
EmbARC LMS Enhancements - Holiday Editor
We are providing a new way for you to enter holidays or important dates into the general calendar.
With holidays or important dates entered into the general holiday, you are able to trigger certain events such as repayment dates based on the modified calendar.
EmbARC LMS Enhancements - Delinquency Bucket Editor
When it comes to defining delinquencies, there are the standard 30, 60, 90 or 120 day past dues. But sometimes you might want to define your own periodicity when it comes to various delinquency buckets.
We created a tool that allows you to do just that. Within the EmbARC Loan Management System, you can now add, edit any ranges of delinquencies.
And there’s one more thing
Loan Originations System Update: Real Time Field Calculation
We derived a clear solution for real time field calculation. When you ask someone to input their monthly income for example, you can build a derived variable to track their annual income based on the monthly income input.
We can now display the derived annual income in real time as the user enters the monthly income. This powerful feature can be adopted to any number field and perform real time calculations.
We also added a field validation feature on the calculated variables. We can check for maximum and minimum as well as special characters and produce warning or error messages.
About LendAPI
LendAPI is the core infrastructure for embedded finance, known as one of the fastest-growing embedded finance infrastructure companies in the world. Since its inception in 2024, the platform has provided market leadership in indirect financing across industries ranging from automotive and marine equipment to luxury consumer goods and services. Our technology enables a variety of indirect lending scenarios, delivering millions of financing opportunities for banks, credit unions, retailers, and fintechs. LendAPI provides a complete, private-labeled solution, from customer experience and administrative tools (including in-store co-pilots) to loan servicing, compliance, and licensing support, to launch in-house BNPL products quickly and efficiently.