For lenders, partnering with third-party loan service providers like a loans marketplace or  digital platforms, is no longer a novel idea, it’s the norm. However, the tech piece of partnership lending—especially the process of onboarding—is still riddled with complexities.

Here’s how the onboarding process typically plays out: 

The lender and platform agree on a partnership. Once the paperwork is out of the way, both parties get working on getting the lender’s services aboard the platform. The lender is  required to provide their tech  for integration, so the platform can build their user experience over it. Both parties collaborate to take the lending services live on the platform. 

Only, the process is not as easy as it sounds. There are several factors that lenders have to take into account:

• Managing multiple configurations 

• Enabling partners to build their journeys 

• Empowering partners to run experiments 

• Keeping control over the larger partnership strategy (such as disbursal goals from each partnerships)

• All this, while also maintaining the sanity of the lenders’ own systems

Read our Digital Credit Infrastructure guide .>

The onus of providing the lending stack to the partner lies with the lender. And more often than not, they find themselves lacking the tech muscle to carry out a smooth partnership onboarding.

And that’s where FinBox can bridge the gap.

Introducing API middleware: A lender’s answer to easy partnerships! 

With FinBox’s API middleware, lenders get an end-to-end, ready-to-integrate API stack that makes partnerships with platforms effortless. 

Here’s an overview how FinBox’s collaborates with lenders:

• FinBox integrates with the lenders systems

• Fills in any gaps in the infrastructure

• Integrates with third-party vendors, wherever needed needed

• Packs it all in a partnership API stack, ready to be used for any partnership

• Any configurations and change requests in the future will be handled by FinBox

With API middleware, FinBox does all the heavy lifting including:

• Orchestration of complex processes like BRE and KYC 

• Customising workflows to the partners’ needs, configuring checks (identity checks, fraud checks, and serviceability checks), and integrating diverse data sources for underwriting. 

• Integrating with 80+ third party vendors across the digital lending ecosystem to enable functionalities such as payment gateways, penny drop, e-sign, and more.

Deep integration with lender systems: We build robust and reusable integrations with your LOS, LMS, and CBS to launch any partnerships.

Analytics suite: Lenders can gain valuable insights into their partner network’s performance such as funnel conversion analytics, rejection analytics, loan performance, and much more with dedicated dashboards.

Application health monitoring:   Lenders can track workflows, monitor system performance, set alarms, and empower their TechOps team to swiftly resolve issues before they impact the top or the bottom of the funnel.

Integration support: FinBox assists lenders with documentation and go-live checklists, offers integration support, and provides sandboxes to minimise complexities and increase API adoption.

With a vast library of APIs and integrations, FinBox’s API Middleware is built for partnerships. It empowers both lenders and partner platforms to build a seamless experience for end-users. 

Want to know more about FinBox’s partnership-ready API middleware? Connect with us at bd@finbox.in or fill in your details for a call back.