PortX, a leading integration technology company offering financial institutions (FIs) rapid innovation with open access to core data via its Integration-Platform-as-a-Service (IPaaS), announced a new partnership with LendAPI, an innovative provider of digital lending solutions.
Through this partnership, PortX integrates LendAPI's advanced digital lending platform with its IPaaS solution, enabling FIs to streamline their loan origination and account opening processes. LendAPI's platform, renowned for its multi-tenant and highly configurable design, complements PortX's mission to unlock open access to data and accelerate product innovation for FIs.
LendAPI distinguishes itself with a highly adaptable platform that offers real-time custom credit scoring and variable setting capabilities for tenants. This feature empowers FIs 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 optimization strategies, allowing tenants to continuously refine and test new rules and strategies to enhance performance.
The integration between PortX and LendAPI is designed to be seamless, thanks to LendAPI's comprehensive API endpoints that ensure smooth integration with banks' and lenders' existing infrastructures. This collaboration ensures that FIs can effortlessly adopt and implement LendAPI's advanced features, such as rule setting and shadow scoring, providing them with complete control over their decision-making processes.
“Joining forces with PortX represents a transformative step for the digital lending sector,” Timothy Li, CEO of LendAPI. “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.”
“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,” said David Wexler, CEO of PortX. “Integrating LendAPI's capabilities with our integration platform marks a step forward in our journey to empower FIs with the tools they need to boost revenue growth, exceed customer expectations, and sustain a competitive advantage in the market.”
ABOUT PORTX
PortX is an integration technology company focused on financial services infrastructure that delivers open access to core data and enables rapid project delivery, innovation, and optimal customer experiences. Our solutions facilitate interoperability between internal systems and member services such as online banking, credit checks, mortgage and loan applications, and more, allowing for a real-time 360-degree view of the customer. We help financial institutions empower their teams to connect to fintech partners and real-time payment networks like Zelle®, ACH, Fedwire, Mojaloop, and others. For more information, please visit www.portx.io and connect on LinkedIn.
ABOUT LENDAPI
LendAPI is a no-code digital originations platform with a fully customizable product builder, visual decision engine and a workflow orchestration platform designed for banks and financial services to launch their products quickly at a fraction of the cost of traditional onboarding platforms. For more information, please visit lendapi.com and connect on LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229543989/en/
Contacts
Brad Allen
PR@portx.io
