{"id":18683,"date":"2020-12-15T08:17:14","date_gmt":"2020-12-15T08:17:14","guid":{"rendered":"https:\/\/habiletechnologies.com\/?p=18683"},"modified":"2022-07-22T07:43:56","modified_gmt":"2022-07-22T07:43:56","slug":"why-should-your-lending-business-get-api-fied","status":"publish","type":"post","link":"https:\/\/wiki.cloudbankin.com\/index.php\/2020\/12\/15\/18683\/why-should-your-lending-business-get-api-fied\/","title":{"rendered":"Why should your lending business get API-fied?"},"content":{"rendered":"<p>[vc_row][vc_column width=&#8221;3\/4&#8243; el_class=&#8221;habilecompanieslist&#8221;][stm_post_details][vc_column_text]<i><span style=\"font-weight: 400;\">Everyone is talking about it!&nbsp;&nbsp;<\/span><\/i><br \/>\n<strong><i>API is like the buzzword in the lending sector!&nbsp;<\/i><\/strong><\/p>\n<h3><b>But what are APIs and why is there so much hype around them?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">API stands for <\/span><b>A<\/b><span style=\"font-weight: 400;\">pplication <\/span><b>P<\/b><span style=\"font-weight: 400;\">rogramming <\/span><b>I<\/b><span style=\"font-weight: 400;\">nterface. They have been around for many years and have now turned more mainstream for their unique abilities.&nbsp;&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">In layman terms, APIs include a series of protocols that allow a software solution to call on functions from other sources and systems. In lending, APIs enable the lender to acquire critical information that is essential for decision making.&nbsp;&nbsp;<\/span><\/p>\n<h3><b>Where do APIs sit in the lending sector?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">When the quantity and quality of data available with the lender is accurate and extensive, it turns into a competitive advantage for the borrower. However, the lender must be able to gather that kind of information in a cost-effective and secure manner.&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">When the information in hand is validated through relevant sources, decision making becomes easier, and the lender is better positioned to assess loan requests from a whole array of customers.&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">This is where, APIs join the game!<\/span><br \/>\n<span style=\"font-weight: 400;\">With the pandemic catalysing the need for digital lending and the percentage of bad loans increasing, APIs are here to stay and become the future of efficient and safe lending!<\/span><\/p>\n<blockquote>\n<p style=\"text-align: center;\"><strong>How important is efficient loan decision making?<br \/>\n<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><a href=\"https:\/\/thelogicalindian.com\/news\/bad-loans-modi-regime-20206\"><span style=\"font-weight: 400;\">RBI has reported<\/span><\/a><span style=\"font-weight: 400;\"> a whopping Rs 660 thousand crores of bad loans for Indian banks since 2014.<\/span><br \/>\n<span style=\"font-weight: 400;\">A popular opinion behind the downfall of the 94-year long Lakshmi Vilas Bank is its <\/span><a href=\"https:\/\/thelogicalindian.com\/news\/bad-loans-modi-regime-20206\"><span style=\"font-weight: 400;\">unwarranted shift of focus to larger loans<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><br \/>\n<span style=\"font-weight: 400;\">Clearly, bad loans can bring down any organization irrespective of its legacy and calibre.<\/span><\/p><\/blockquote>\n<h3><b>What benefits do APIs deliver for a lending organization?<\/b><\/h3>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">APIs enable rapid decision making by providing data points from any third-party source including the Indian government.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">APIs allow the lender to delve deeper into the metrics.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">APIs do not store any data within them and are therefore 100% secure and safe.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/a-complete-guide-to-loan-origination-system\/\"><b>Loan Origination System<\/b><\/a><\/span> is made error-free through APIs, thus generating higher and better business for the borrower.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">APIs save money, time and effort needed for loan processing.&nbsp;<\/span><\/li>\n<\/ul>\n<h3><b>Why does the lending sector need APIs?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Apart from above mentioned benefits of API, there are for compelling reasons for borrowers to embrace an API-driven structure. They are:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Industry regulations.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Competition from new entrants and fintech players.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Increasing need to go digital.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Paving way for newer revenue streams.&nbsp;<\/span><\/li>\n<\/ol>\n<h3><b>What are the APIs used in the loan origination process (LOS)?<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/loan-origination-system\/\"><b>Loan Origination Software<\/b><\/a><\/span><span style=\"font-weight: 400;\"> includes multiple APIs that can be categorized as follows.&nbsp;&nbsp;<\/span><br \/>\n<b><span style=\"color: #ff0000;\"><a id=\"Identity verification\" style=\"color: #ff0000;\" href=\"#Identityverification\">1. Identity verification:<\/a><\/span>&nbsp;<\/b>This includes APIs for PAN card, driving license, voter ID, passport and AADHAR verification. Techniques like OCR are used by the APIs and no customer data is stored in them at any point. Therefore, the privacy data remains unaffected.<\/p>\n<div id=\"habilemy-element\">\n<div class=\"habilebottomMenu\" style=\"background: #fff; z-index: 1; padding-top: 10px;\">\n<b><span style=\"color: #ff0000;\"><a id=\"Address verification\" style=\"color: #ff0000;\" href=\"#Addressverification\">2. Address verification:<\/a><\/span>&nbsp;<\/b>Generally, two important checks are made under this category and they are electricity bill validation and LPG verification.<br \/>\n<b><span style=\"color: #ff0000;\">3<a id=\"Vehicle verification\" style=\"color: #ff0000;\" href=\"#Vehicleverification\">. Vehicle verification:<\/a><\/span>&nbsp;<\/b>The RC number of a borrower is all that it takes for this verification, using which, certain personal details, like address, age and name of the owner can be identified easily. This type of check can also be called asset verification.<br \/>\n<b><span style=\"color: #ff0000;\">4<a id=\"Financial verification\" style=\"color: #ff0000;\" href=\"#Financialverification\">. Financial verification:<\/a><\/span>&nbsp;<\/b>Financial data is hard to acquire, can be complex and yet is important to make a valid decision in the <b>loan origination system<\/b>. Tools like data scrapping and penny drop API are used for financial checks like bank account verification, bank statement analysis, ITR extraction and GST details (GST details are also collected for merchant verification). Again, the data is 100% secure during the process.<br \/>\n<b><span style=\"color: #ff0000;\"><a id=\"Utilities API\" style=\"color: #ff0000;\" href=\"#UtilitiesAPI\">5. Utilities API:<\/a><\/span>&nbsp;<\/b>Face crop API, Face match API, Name match API and Face Liveness are some of the APIs used in this category.<br \/>\n<b><span style=\"color: #000000;\">6. Digital contracting:<\/span>&nbsp;<\/b>When the loan has been approved the borrower needs to initiate the E-sign transaction. APIs can be used for this purpose too.<br \/>\n<span style=\"color: #000000;\"><b>7. OCR service:&nbsp;<\/b><\/span>OCR stands for Optical Character Recognition. It is used to convert text from images into machine-coded text. For example, OCR API can be used to read a scanned copy of a document and the data obtained from the image can be repurposed for use by the borrower.<br \/>\n<strong>A deeper look into the range of APIs available for the lending industry follows\u2026<\/strong><\/div>\n<\/div>\n<p>[\/vc_column_text][vc_row_inner el_id=&#8221;Identityverification&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Identity Authentication&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/08\/Pan.png\" alt=\"SIntroduction to Loan Origination System\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">PAN Check<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211;&nbsp;<\/strong>PAN number of the customer<\/li>\n<li><strong>Output Delivered &#8211;<\/strong>&nbsp;Real-time verification of the PAN number<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Database from <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.tin-nsdl.com\/\">National Securities Depository Limited and the Income Tax Department<\/a><\/span>.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant results. Real-time and therefore the most recent changes can be captured.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/Driver\u2019s-Licence.png\" alt=\"Driver\u2019s License (DL) Check\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Driver\u2019s License (DL) Check<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>DL (Driving Licence) number<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Verification of DL validity, Photo of licensee, Name &amp; Address as per DL, Date of birth and Date of issue of DL, Blood Group, Name of father or husband, Category of Vehicles the licensee is authorized to drive along with the effective date.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; National Database for <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/parivahan.gov.in\/parivahan\/en\/content\/digitalization-vehicle-registration-and-driving-licence\">Driving Licenses and Vehicle Registration.<\/a><\/span><\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant, comprehensive.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/ocr-icon-4.jpg\" alt=\"OCR\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">OCR<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Scanned image of any ID of the customer<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Card holder\u2019s name, Father or husband\u2019s name, Date of birth, Face extraction, PAN number and so on.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Uses OCR technique to read vital information of the provided IDs.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Saves times, error-free.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/voter-id-check.png\" alt=\"OCR\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Voter ID Check<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Voter ID number<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Authentication of the Voter ID number, Name of cardholder in English and regional language, Gender, Mobile Number and Email ID, Date of birth, Name of father or husband (in English and regional language), Complete address of cardholder (including district and state), Applicable polling, booth address, Applicable parliamentary constituency.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/www.india.gov.in\/\">National Portal of India<\/a><\/span>\/Electoral Databases.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant, comprehensive and helps identify identity fraud.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/Passport.jpg\" alt=\"Passport Check \" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Passport Check<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Passport number which is used to generate the MRZ code<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> First and Last name as on the passport, Date of birth, Date of expiration of passport, Type of passport, Address and age of the passport holder.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant and comprehensive<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/08\/Aadhar.png\" alt=\"Offline Aadhaar\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Offline Aadhaar<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong><strong>Input Required&nbsp;&#8211;&nbsp;<\/strong><\/strong>Aadhar Number and XML file upload from <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/uidai.gov.in\/\">UIDAI site<\/a><\/span><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Output for the XML and PDF mode is almost same except that the email and phone details will be delivered only through XML mode. Name, DOB, Gender, Address, Image.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Information is obtained from two Government approved sources: E- Aadhaar and Offline Aadhaar XML<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant and comprehensive<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=&#8221;Addressverification&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Address Verification:&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/electricity.png\" alt=\"Electricity Bill Validation\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Electricity Bill Validation<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Consumer ID and Name of the Electricity Service Provider.<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Registered address of the customer, Electricity bill date, Date, number, and amount of the latest bill, Pending amount against the latest bill, Due date of the latest bill, Email ID and Phone number, Information about payment arrears and deposit.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Regional State Electricity Board or the Authorised Electricity Supply Company of the state.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Useful for address verification.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/domestic-lpg-gas-250x250.png\" alt=\"LPG Connection Verification\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">LPG Connection Verification<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>LPG Customer ID (obtained from the bill).<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Name &amp; Address of the consumer, Email ID and registered phone number (last four digits), Registered Aadhar Number (last four digits), Name and Code of LPG Distributor, Consumer Number, Bank Details (Account number, bank name and IFSC code and branch details), Subsidy status of consumer, Number of subsidized refills consumed in the last year, Amount of subsidy availed, Total number of refills, Date from the last generated bill.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Useful for address verification.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=&#8221;Vehicleverification&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Asset Validation:&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/Rc.png\" alt=\"RC\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">RC<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>RC number<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Validation of the RC number (i.e. The given RC number is determined as valid or invalid using this API). The valid RC number yields the following details about the vehicle. Body type, Chassis Number, Fuel type, Registered color, Gross weight, Name of manufacturer, Number of cylinders, Engine number, Model and make, Registered name of owner, Owner serial number.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211;&nbsp;<span style=\"color: #000000;\">Vahan<\/span> is a nationwide search over the digitized data of Registered Vehicles<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Used to validate basic details such as ownership, permit and so on for any vehicle (both commercial and private).<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=&#8221;Financialverification&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Financial Check :&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/gst.jpeg\" alt=\"GST Verification \" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">GST Verification<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>GST Number<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Legal name of the business, State jurisdiction\/State jurisdiction code, Central jurisdiction, Registered name of the business or individual linked with the specified GST Number, Taxpayer type, Business type (proprietorship\/partnership\/private limited, public company and so on), Nature of business, Address and contact information of the business, GST registration date and date of cancellation of registration, GSTIN last updated, Trade Name, Expenses incurred and revenue earned monthly, Client list, Tax payable.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/services.gst.gov.in\/services\/searchtp\">Central Board of Indirect Taxes and Customs (CBIC)<\/a><\/span> Can be used to search a company using a GST Number.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Useful for verification of business loan and mortgage loan applications<\/li>\n<\/ul>\n<p>Note: Alternatively, an API to verify the GST number alone is also available.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/bank-account.jpg\" alt=\"Bank Account Validation\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Bank Account Validation<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Bank Account Number &#8211;&nbsp;IFSC Code of the corresponding bank<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Status of the account- either valid or invalid, Name of the account holder, Bank Reference number, Amount used to verify the status of bank (which is usually INR 1)<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Validation is done through the penny drop mechanism.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Bank account can be verified within seconds. Can be integrated with mobile and web applications (rest API)<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/bank-statement-analyzer.jpg\" alt=\"Bank Statement Analyser\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Bank Statement Analyser<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>OPTION 1: Uploading Bank Statements, OPTION 2: Using Net Banking Credentials.<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Money Received \/ Paid Analysis, Total Debt\/Credit in last 6 months, High Value Transaction Analysis, Average Monthly Balance, Average Monthly, Negative Balance, Benefit Cost Ratio Analysis, BTO Analysis, Frequent Transaction Analysis, Monthly Opening Balance Amount, Average Quarterly, Balance, Monthly Credit Card Amount, Internal Transaction Analysis, Penalty Analysis, Negative Balance Analysis, Inward \/ Outward Cheque Return, Analysis, EMI \/ Interest \/ Dividend Transaction Analysis, Loan Payment Analysis, Salary Analysis, Minimum Balance Analysis, Cash Deposit Analysis, Investment Analysis,OD utilization Analysis, Credit Gap Analysis, Total Number of Overdrawn Period, Unusual Transaction Analysis, Interest Gap Analysis<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; Uses Data Scrapping technique.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Fetch key financial data of customer<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/IT-extraction-1.jpeg\" alt=\"ITR Extraction\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">ITR Extraction<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>IT Number<\/li>\n<li><strong>Output Delivered &#8211;<\/strong> PDF copy of ITR (based on the duration i.e. number of years for which ITR details are needed), 26AS for mentioned duration, PAN number linked with the ITR, Phone number and DOB linked with the PAN number.<\/li>\n<li><strong>Sources Used<\/strong>&nbsp;&#8211; <span style=\"color: #000000;\">Income tax portal<\/span><\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Fetches tax returns of the customer.<br \/>\nUseful for making key decisions about the loan application.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/aadhar.jpg\" alt=\"Digital Contract Aadhar Sign (Aadhaar E sign)\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Digital Contract Aadhar Sign (Aadhaar E sign)<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>API initiates the E sign transaction. Request for the signing of a single (or multiple) PDF document is initiated by providing information about the document, places where the signature is needed, purpose of the signature, name and city of the signer.<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> INIT \u2013 Signed URL of the PDF document (valid for 48 hours).<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong>&nbsp;Helps to access customers from remote locations.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2016\/10\/credit-scoring.jpg\" alt=\"Credit Bureau API \" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Credit Bureau API<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Name of the individual or business.<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Credit score for the business or individual.<\/li>\n<li><strong>Source Used &#8211;<\/strong>&nbsp;Registered <span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/an-introduction-to-credit-bureaus\/\">credit agencies<\/a><\/span> \u2013 CIBIL, CRIF High Mark, Experian &amp; Equifax.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant results<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_id=&#8221;UtilitiesAPI&#8221;][vc_column_inner][vc_custom_heading text=&#8221;Utilities API:&#8221; font_container=&#8221;tag:h3|text_align:left&#8221; use_theme_fonts=&#8221;yes&#8221;][\/vc_column_inner][\/vc_row_inner][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2016\/09\/house-construction-1005491_1920.jpg\" alt=\"IFSC Verification\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">IFSC Verification<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>IFSC Code<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> The following details pertaining to the IFSC code is delivered<br \/>\nBank name, Bank code, Branch Address (City, District, State), Contact number, RTGS status.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Any Indian Bank<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Useful for bank and account verification.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/07\/iphone-face-recognition.jpg\" alt=\"Face Match API\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Face Match API<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>User Image<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> A face match score is generated and can be interpreted as follows,<br \/>\n0 \u2013 Not Matched.<br \/>\n1-75 \u2013 Unlikely.<br \/>\n75-85 \u2013 Likely.<br \/>\n&gt;84 \u2013 Very likely.<\/li>\n<li><strong>Source Used &#8211;<\/strong> User image is compared with authorized documents submitted.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Helps serve customers in remote locations.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/face-extract.png\" alt=\"Face Extract API\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Face Extract API<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>User Image<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Cropped face image of the customer.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Delivers image by cropping face from a photograph.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Helps serve customers in remote locations.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2019\/12\/recruitment-icon-9.png\" alt=\"Name Match\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Name Match<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Name to be checked<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Matching score for the given name.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Other authorized documents that carry the name of the customer<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Helps to match the name easily.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/bank-statement-analyzer.jpg\" alt=\"OCR API\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">OCR API<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Scanned image of any ID of the customer <strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Card holder\u2019s name, Father or husband\u2019s name, Date of birth, PAN number and so on.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Uses OCR technique to read vital information of the provided IDs.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Saves times, error-free.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2017\/09\/Untitled-design-1.jpg\" alt=\"Face Liveness\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Face Liveness<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Presence of customer using a camera<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Face liveliness score<\/li>\n<li><strong>Source Used &#8211;<\/strong> The live features of the face are matched with the image obtained through documents like Voter ID, Aadhar or DL.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Prevents chances of fraud and is useful for customers in remote location.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/Mobile-Number-Validation.jpg\" alt=\"Mobile Number Validation\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Mobile Number Validation<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Mobile number of the customer.<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Mobile number is determined if valid or invalid.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Truecaller<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Saves times, error-free.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/social-media-scoring.png\" alt=\"Social media scoring\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Social media scoring<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Name of the customer and&nbsp;Social media login<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Social media score \u2013 obtained through digital footprint of the customer.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Social media websites.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Offers additional information about the customer.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/sms-alert-icon-2.png\" alt=\"SMS Reading Capabilities\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">SMS Reading Capabilities<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Mobile number of customer.<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Consent of customer to read their SMS.<\/li>\n<li><strong>Source Used &#8211;<\/strong> Consent obtained directly from customer.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Instant and useful for collection of key information<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/email-validation.png\" alt=\"Email Validation\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Email Validation<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Email ID of customer.<strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong> Email ID is determined if valid or invalid.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Saves times, error-free.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<div class=\"stm_partner style_2\">\n<div class=\"image\"><img loading=\"lazy\" decoding=\"async\" class=\"\" title=\"Introduction to Loan Origination System\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/12\/video-kyc.png\" alt=\"Video KYC\" width=\"120\" height=\"80\"><\/div>\n<div class=\"stm_partner_content\">\n<h4 class=\"no_stripe\">Video KYC<\/h4>\n<div class=\"description\">\n<ul>\n<li><strong>Input Required&nbsp;&#8211; <\/strong>Includes three steps,<br \/>\n1. Capture and validation of ID documents \u2013 Scanned copy of documents needed.<br \/>\n2. Capture and verification of video activity \u2013 A live video session must be arranged between the customer and the lending entity.<br \/>\n3. Face compare \u2013 Scanned ID documents and live video session needed. <strong><br \/>\n<\/strong><\/li>\n<li><strong>Output Delivered &#8211;<\/strong>1. The ID document is validated and ensured that it is the right format.<br \/>\nTampering detection.<br \/>\n2. Verification of the document with the aid of the source of ID document generation (optional).<br \/>\n3. Generates the link for video capture.<br \/>\n4. Performs three important checks \u2013 Face liveness check, face consistency check and video activity check.<br \/>\n5. Results obtained from the API include a video link, face snapshot, video activity details, video activity check,&nbsp; timestamp and geostamp.<br \/>\n6. Face compare result.<br \/>\n7. Document visual authenticity check.<\/li>\n<li><strong>Benefits &#8211;&nbsp;<\/strong> Real-time screening, Fraud detection.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][vc_column_text]<\/p>\n<h3><strong>The Final Word<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Get API-fied with CloudBankIN!&nbsp;&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">APIs are like the superpower needed by any lending organization.&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">Incorporated with all the above APIs, is the robust digital <\/span><b>loan origination software<\/b><span style=\"font-weight: 400;\"> solution, CloudBankIN, from Habile Technologies.&nbsp;<\/span><br \/>\n<span style=\"font-weight: 400;\">This signature product addresses three main issues that banks and other lenders face while <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/blog\/the-lenders-roadmap-to-digital-onboarding\/\"><span style=\"font-weight: 400;\">moving into the digital mode<\/span><\/a><\/span><span style=\"font-weight: 400;\">.&nbsp;<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">CloudBankIN integrates easily into legacy systems thus bringing down the cost, time and effort needed for the digital transition.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">As the APIs used within the product do not store any data within them, there are no security issues.&nbsp;<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The lending industry is evolving. The solution is also set to grow and embrace more and more APIs thus ensuring that the user stays updated with technology and operational efficiency.&nbsp;<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400;\">In a nutshell, if API is the fuel to your lending business, <\/span><span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/habiletechnologies.com\/lending-software\/\"><span style=\"font-weight: 400;\">then CloudBankIN<\/span><\/a><\/span><span style=\"font-weight: 400;\"> is the powerful engine that will deliver the best essence of the APIs.<\/span>[\/vc_column_text][vc_column_text]<\/p>\n<h3>Most Recent Posts<\/h3>\n<div class=\"stm_news blog_most_recent_posts\">\n<ul class=\"news_list posts_per_row_2\">\n<li id=\"post-7037\" class=\"post-7037 post type-post status-publish format-standard has-post-thumbnail hentry category-banking-and-finance category-loans\">\n<div class=\"post_thumbnail\"><a href=\"https:\/\/habiletechnologies.com\/blog\/an-introduction-to-credit-bureaus\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-consulting-image-350x204-croped size-consulting-image-350x204-croped wp-post-image\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/Introduction-to-credit-bureaus.jpg\" alt=\"\" width=\"350\" height=\"204\"><\/a><\/div>\n<h5><a href=\"https:\/\/habiletechnologies.com\/blog\/an-introduction-to-credit-bureaus\/\">An Introduction To Credit Bureaus<\/a><\/h5>\n<\/li>\n<li id=\"post-7288\" class=\"post-7288 post type-post status-publish format-standard has-post-thumbnail hentry category-loans tag-agency tag-collection tag-debt tag-loan tag-modern tag-technology tag-traditional\">\n<div class=\"post_thumbnail\"><a href=\"https:\/\/habiletechnologies.com\/blog\/workflow-management-the-key-to-efficient-loan-origination-system\/\"><img loading=\"lazy\" decoding=\"async\" class=\"attachment-consulting-image-350x204-croped size-consulting-image-350x204-croped wp-post-image\" src=\"https:\/\/habiletechnologies.com\/wp-content\/uploads\/2020\/10\/Workflow-Management-The-Key-to-Efficient-Loan-Origination-System1-350x204.png\" alt=\"\" width=\"350\" height=\"204\"><\/a><\/div>\n<h5><a href=\"https:\/\/habiletechnologies.com\/blog\/workflow-management-the-key-to-efficient-loan-origination-system\/\">Workflow Management \u2013 The Key to Efficient Loan Origination System<\/a><\/h5>\n<\/li>\n<\/ul>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/4&#8243;][stm_sidebar sidebar=&#8221;527&#8243;][\/vc_column][\/vc_row][vc_row][vc_column][vc_empty_space][\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;3\/4&#8243; el_class=&#8221;habilecompanieslist&#8221;][stm_post_details][vc_column_text]Everyone is talking about it!&nbsp;&nbsp; API is like the buzzword in the lending sector!&nbsp; But what are APIs and why is there so much hype around them? API stands for Application Programming Interface. They have been around for many years and have now turned more mainstream for their unique abilities.&nbsp;&nbsp; In layman terms, [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":18763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-18683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-origination"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why should your lending business get API-fied? | Habile Technologies<\/title>\n<meta name=\"description\" content=\"APIs are the recent buzzword in the lending industry. 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