The Importance of Lending APIs for Business:
APIs or Application Program Interfaces are the medium by which any two application programs interact i.e. API is the mode of communication between two different applications. Businesses spend more than $590 billion per year in integrating disparate systems through APIs. They allow faster innovation by making monetization easier and by helping businesses in creating better products. Companies like Uber and Twitter have connected the best programs through APIs instead of creating their own payment platforms or maps or User Interface etc. Thus, businesses like Google are expanding for lending API for businesses.
There are multiple reasons why you should have a B2B lending today like increasing revenue, extending customer reach, supporting marketing and sales, innovation in technology and business, etc. B2B lending also helps in lending APIs for businesses smoothly and creating a brand name.
Addressing the challenge with Easebuzz- The Perfect Lending Management Software
India’s most recommended online lending platform connecting online lenders to entrepreneurs
B2B lending businesses can configure all the loan products and services from a single platform using the lending API for businesses that Easebuzz provides. We provide a complete technology backbone when it comes to loan life cycle management. We create a seamless loan lending experience for B2B lending businesses right from loan decision to repayment collection. Our Lending Software System is highly configurable to match the B2B lending business requirements, helping to create tailored loan products without any hassle while automating the business processes for efficiency. Consumer lending API in Easebuzz provides secure APIs and data pipelines which can be seamlessly integrated into existing B2B lending ERP systems.
How our Lending APIs for businesses help B2B lending businesses in India improve efficiency by Digitizing Lending End-to-End?
- Proprietary Credit Assessment: Before a B2B lending business lends to another business, they want to assess the proprietary credit of that business to approve their lending request.
- Customer on-boarding: It is not only about digitizing the existing process but also making it frictionless. Thus, lenders can create customized borrower experience with Easebuzz Consumer Lending API.
- Loan disbursal: Lenders can pre-approve customer loans on the basis of their data through lending API for businesses. It offers a quicker solution for urgent lending decisions.
- Loan Repayment: Easebuzz is helping B2B lending businesses to get paid for the loans that they have sanctioned earlier. The B2B lending businesses would like to keep track of the transactions of their clients (other businesses).
- Analytical reports to measure strategic process-related metrics: “If you can’t analyze, you can’t realize the progress of your B2B lending business.” Thus, any lending API for businesses should also provide a way to generate reports to analyze the growth of the B2B lending businesses.
- Third-Party Integration Ability: Collaboration between various entities in the value chain such as Originators, Credit agencies, Data providers, Capital Intermediaries etc should be seamless. Thus, third-parties need to be integrated in a single platform.
- Built-in security features: Lender platforms need to be digital-ready, tech-savvy and easy-to-use, scalable, secure – respecting the privacy of consumer data.
Our lending API for businesses has all this and many more features. Get in touch with us today to learn more about our solution. Write to us at firstname.lastname@example.org