Rapid Finance Announces Partnership with Rutter to Bring Enhanced Financial Profile and Portfolio Monitoring Capabilities to SMB Lenders

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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Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Wednesday, April 12, 2023
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Tags: 
Technology, Payments, Finance, Fintech, Banking, Accounting, Professional Services, Small Business, Asset Management, Rutter, Enterprise, API, SMB, Rapid Finance, Organization, Laas, Commerce, Park Rapids Enterprise, Universal, Health, Financial services, Bank, Decisional balance sheet
Geotags: 
DISTRICT OF COLUMBIA, MARYLAND, UNITED STATES, NORTH AMERICA
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Organisation: 
RAPID FINANCE, RUTTER, RAPID FINANCE/RAPID ENTERPRISE
Summary
Key Points: 
  • Decisioneer, a core system in Rapid Enterprise’s LaaS technology platform, leverages this API to accelerate business loan decisioning and underwriting processes.
  • 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.
  • Through the system’s portfolio monitoring service, Decisioneer also enables lenders to continuously monitor the health of their portfolio throughout the loan lifecycle.
  • “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.


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.

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.

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.”

“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.”

About Rutter

Rutter develops a universal API that integrates with every commerce, accounting, and payments platform. It enables users to connect to any platform and get a holistic view of any business. Rutter is an integration layer for any company building integrations into commerce or accounting platforms. Learn more at www.rutter.com.

About Rapid Finance/Rapid Enterprise

Since 2005, Rapid Finance has been supporting the growth and success of small businesses across the U.S. Powered by a thoughtful combination of technology, speed and deep industry expertise, the Rapid Enterprise business line provides Lending as a Service solutions to enterprise clients. With modular, flexible and scalable financial solutions, Rapid Enterprise solutions are customized to our enterprise partners’ needs. Learn more at www.rapidfinance.com.

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