Lendflow Launches Credit Decisioning Engine for Embedded Lending Products

Lendflow, which offers embedded lending, has rolled out an application programming interface (API) for companies to build, embed and launch credit products, a press release said Tuesday (May 24).

Called the Credit Decisioning Engine, it will assist with making credit cards, buy now, pay later (BNPL) functions, and small business loans, more quickly.

Lendflows products will give an end-to-end solution for FinTechs and vertical SaaS companies, with the objective to offer better and quicker lending services to help companies grow.

The release said the Credit Decisioning Engine will let customers access data services like credit bureaus and alternative underwriting data, through a lone API and contract, to get a better picture of loan applicants.

Lendflow said its interface and low-code environment will give customers the ability to customize decisioning workflows, cutting down on data costs and improving risk assessments.

“Our Credit Decisioning Engine represents the natural evolution of Lendflow’s embedded platform,” said CEO and Co-Founder Jon Fry. “By combining the new decisioning engine with our credit origination system and our strong marketplace of specialized lenders that understand industry needs, we are uniquely positioned to make sure our customers get an experience specific to them. Our mission is to enable every company to become a FinTech.”

See also: Buy Now, Pay Later Puts Healthcare Payments Under the Knife

There have been payments innovations across numerous verticals, with healthcare reinventing itself with new BNPL options.

PYMNTS wrote that Walnut, a startup, had announced a $110 million Series A round toward those ends.

The company said it wanted to work on new healthcare solutions.

“Being able to provide a valuable service without acting as an inflationary force on the cost of healthcare is a core part of our offering,” the company said in a statement. “We typically describe this as ‘buy now, pay later’ for healthcare. By enabling patients to pay in monthly installments, we alleviate the financial burden for our patients to help them afford and access the care they need.”