LendingPoint Launches New SDKn ™ Technology to Simplify Consumer Credit Approval for Ecommerce and Point-of-Sale Purchasing



KENNESAW, Georgia – (COMMERCIAL THREAD) – LendingPoint, a data and technology platform dedicated to democratizing credit and accelerating commerce, today announced a unique loan operating system (LOS) named SDKn â„¢, which creates an instant consumer credit pre-approval platform for businesses of all sizes providing affordable financing options to the widest range of credit customers.

With just a few lines of code, SDKn ™ integrates quickly and effortlessly with existing payment platforms, providing consumers with an instant credit decision for in-store and online purchases, without ever having to leave the website or the payment processor. The SDKn ™ One application, one approval, multiple lendersThe ™ feature can be configured to allow multiple lenders with varying credit “appetites” to operate within a single user experience without revealing their underwriting criteria to others.

“Over the past year, we’ve worked hand-in-hand with our small business partners and clients to perfect the financing and buying experience,” said KN Kasibhatla, CTO of LendingPoint. “SDKn â„¢ enables large and small merchants, regardless of their technological capabilities, to easily deploy a consumer finance tool for online and in-store transactions, offering multiple execution possibilities, including virtual cards, direct deposit to customers and immediate money transfers to the merchant. ”

Commerce as we know it continues to evolve in the wake of the current health pandemic, so now more than ever, businesses need to be able to offer more shopping options to current and future customers, especially those who prefer the certainty and simplicity of regular and affordable purchases. monthly payments.

SDKn â„¢ is now readily available for all e-commerce platforms, merchants and small businesses to deploy in their online or in-store payment processing platforms to provide consumers with a seamless lending and shopping experience.

LendingPoint launched its first loan in 2015 with a focus on using traditional and alternative data to understand Americans with credit scores between 600 and 700, whose credit needs have traditionally been underserved and overlooked by large banking institutions. The platform has now generated over $ 2 billion over the past four years while expanding into e-commerce and point-of-sale loan origination and serving all credit profiles. In 2019, LendingPoint received over 7 million applications.

About LendingPoint:

LendingPoint is a data and technology platform that enables the origination of unsecured personal loans for financial institutions and for its own balance sheet. The company uses its data algorithms and technology to create better lending and borrowing experiences by finding more reasons to say ‘yes’ – by democratizing credit across the credit spectrum by unlocking access to affordable loans. Its LendingPoint Merchant Solutions platform provides e-commerce platforms and merchants and other service providers with a fully integrated one-stop-shop financing solution to accelerate commerce by providing sellers with financing and also converting more customers to the point of sale. Its SDKn â„¢ enables seamless integration of the entire LendingPoint lending operating system into e-commerce applications and platforms with just a few lines of code.

In 2019, LendingPoint placed 17th on Inc’s list. 5,000 of the fastest growing private companies in the United States; ranked 9th on the 2019 Deloitte Technology Fast 500; and company CEO Tom Burnside was chosen by EY as a finalist for Southeast Entrepreneur of the Year. LendingPoint was named one of the nation’s top consumer loan companies in 2018 by US News & World Report, one of the top personal loans by NerdWallet and the fastest growing private company in the metro area of Atlanta by the Atlanta Business Chronicle. LendingPoint is a privately held company headquartered in Kennesaw, Georgia, with offices in New York and Nevada.



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