LendAPI Company Update - March 30th 2025
Live from Turtle Bay
Wins
We finally launched “Underwrite AI” in our v2.8.2 platform release. I think this will change the way our clients underwrite their applicants. This is especially true for fintechs and banks with large and complicated policies that often require a human agent to adjudicate the application. These AI Assistants you can create within our Underwrite AI tool can speed up their underwriting process by a wide margin. The result of these AI based decisions are tightly integrated with our Agent View.
We launched a sub-prime lender based in Texas. The CEO of this lender is saying good things about us on social media. Thank you! You know who you are.
We are in the process of launching the following new clients:
Marine Equipment Financing (2x)
A rent-now-pay-later lender
Another sub-prime lender (rules are all built and ready to test)
POC proposal are sent the following prospects:
A CUSO (Credit Union Service Organization) to launch a personal LOS
A land financing company
Donate-now-pay-later lender
We are also likely to enter into a partnership agreement with one of the largest credit bureau in the U.S. to cross-sell each other’s platform and data. We’ve been working on this for a few months and we are tightening things up.
As part of this agreement, we are going to be integrating all of their products within our system for them to sell their own products through our platform.
Our common clients can launch products quickly through our platform. It’s a win-win-win situation for all parties involved. We are looking forward to this.
We have a new full stack engineer based in India joining us and he’s starting tomorrow.
We have another engineering manager joining us in one week in our Irvine, CA office. We’ve worked with this engineer before so it will be a fun reunion.
Our intern-turned-full-time engineer will join us in May/June time frame.
Lastly, we found someone great in Latin America and we are doing a bit of negotiation to get him onboarded to boost our in-time-zone support for all of our clients.
We sponsored a pretty awesome LA FinTech Connect party this week and over 100 people showed up. It’s the biggest one yet. Make sure you join the next one. Thanks to Seth and Logan for hosting and organizing as always. Pics and Videos below.
We are working on two giant features in the upcoming releases:
Lender Marketplace: This will enable clients to match applicants to multiple lender financing their products. This can be done in our system now but we want to create a whole new way of configure these client affiliate lenders to make it a better experience.
We are also working on upgrading our Model Studio with a BlackBox Studio concept where clients can upload any sort of binary or models. Then we let them map input and outputs to launch credit risk models of any kind even faster.
Losses:
Nothing major that I can think of this week. But I am sure we had some setback and losses as usual. Doing what we do is incredible hard. We need to have the right team and right timing to get it right.
We had some audio issues with the latest Academy videos. Kay will record them again and we will get them launched shortly.
Pics and vids:
Aloha from Turtle Bay
Tim
A great read. Keep the good work Tim