Rapid Enterprise, a division of Rapid Finance delivering Lending-as-a-Service (LaaS) solutions to enterprise clients, announced the successful integration of its digital end-to-end lending platform, Decisioneer, with Rutter’s universal API to enhance LaaS capabilities for business lenders nationwide.
“We can’t wait to continue working with the team to push the boundaries with what’s possible in the data-driven lending space.”
Rutter offers a single API for obtaining and standardizing financial data from any accounting, e-commerce, or subscription billing site, enabling business lenders to leverage alternative data to support underwriting. Decisioneer, a core system in Rapid Enterprise’s LaaS technology platform, leverages this API to accelerate business loan decisioning and underwriting processes.
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Through this integration, SMB lenders gain access to a much more intelligent view of borrowers’ true financial profile based on relevant ratios and patterns in cash flow and other parameters. This allows lenders to base lending decisions on a holistic view of borrowers’ credit and financial profiles, thereby enabling more accurate and competitive risk-based pricing while minimizing default risk. Through the system’s portfolio monitoring service, Decisioneer also enables lenders to continuously monitor the health of their portfolio throughout the loan lifecycle.
“We are excited to be partnering with the Rapid Enterprise team to power its innovative Decisioneer platform with a more granular and holistic view of any business’s accounting, commerce, or payment platform data through Rutter’s Universal API,” said Peter Zhou, co-founder and CEO, Rutter. “We can’t wait to continue working with the team to push the boundaries with what’s possible in the data-driven lending space.”
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“Our integration with Rutter is a natural fit as both of our organizations are committed to improving business financing through innovation,” said Kunal Sehgal, Head of Sales, Rapid Enterprise. “The Financial Profile and Portfolio Monitoring Module is a robust tool that enables lenders to make informed decisions and stay on top of their portfolio health. This module builds upon Decisioneer’s holistic borrower profile views and will continue to evolve as a key component of our product roadmap. As lenders ourselves, we know that this is an integral component in optimizing loan approval and servicing decisions while minimizing risk.”
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