PortX has announced a new partnership with LendAPI, which will see PortX integrate LendAPI’s digital lending platform with its IPaaS solution, enabling financial institutions to streamline their loan origination and account opening processes. LendAPI’s platform, known for its multi-tenant and highly configurable design, complements PortX’s mission to unlock open access to data and accelerate product innovation for financial institutions.

LendAPI distinguishes itself with a highly adaptable platform that offers real-time custom credit scoring and variable setting capabilities for tenants. This feature empowers financial institutions to tailor their lending criteria more precisely to their risk appetite and market needs. Furthermore, LendAPI’s commitment to innovation is evident in its support for A/B testing and optimisation strategies, allowing tenants to continuously refine and test new rules and strategies to enhance performance.

Partnership to “empower financial institutions with the tools to boost revenue growth”

The integration between PortX and LendAPI is designed to be seamless, thanks to LendAPI’s API endpoints that ensure smooth integration with banks’ and lenders’ existing infrastructures. This collaboration ensures that financial institutions can adopt and implement LendAPI’s advanced features, such as rule setting and shadow scoring, providing them with complete control over their decision-making processes.

Timothy Li, CEO of LendAPI, said: “Joining forces with PortX represents a transformative step for the digital lending sector. Our advanced platform, when combined with PortX’s integration prowess, will enable financial institutions to not only simplify their lending and account opening processes but also to adopt more sophisticated, data-driven decision-making strategies. This partnership is about setting new standards in the industry and delivering unparalleled value to our clients.”

David Wexler, CEO of PortX, commented: “LendAPI is the kind of partner we get really excited about. They exemplify the kind of nimble, modern platform that banks and credit unions need to keep pace in their industry. Integrating LendAPI’s capabilities with our integration platform marks a step forward in our journey to empower financial institutions with the tools they need to boost revenue growth, exceed customer expectations, and sustain a competitive advantage in the market.”

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