ConnectedFi, a UK-based specialist API platform that integrates asset finance brokers and funders, has ushered in the New Year by celebrating the ten thousandth deal going through its network.
The milestone marks its position as an at-scale institutional-grade digital interface between brokers and lenders, the company said.
Explaining the platform’s USP, the company said: “by integrating with the broker’s proposal management system, ConnectedFi presents the broker’s proposal information in exactly the format required by each lender. This ensures that the lender gets exactly the information and attachments required to complete the credit assessment, removing the need for re-keying or asking the broker for more information.
“Decisioning is accelerated with both funder and broker able to offer a better service to their clients. Market-leading compliance can be built into the proposal process, in line with the lender’s own standards.”
“Subject to the sophistication of the lender’s system, the ConnectedFi approach also allows the lender to send messages back to the broker electronically, including automated status updates, pre-populated documents for e-signing or real-time pricing.
“A key benefit for brokers is that because of its integration to multiple lenders, ConnectedFi provides straight-through processing across a range of funders, without having to log into multiple funder portals. Moreover, the proposal information is captured so there’s no need for re-keying if it’s necessary to send the deal to another lender.”
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Kaushik Chakravarti, CEO of ConnectedFi, said: “Achieving this milestone gives us a market-proven platform. With the rollout of more lenders scheduled for early 2023, platform adoption will continue to grow and we will soon announce new functionality for lenders and brokers.”