This page summarises our Funding Cloud customer journey and how you can expect to interact with Funding Options from a technical standpoint.
To begin onboarding contact our Partnerships team
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If you are an existing Lender Partner of Funding Options, then please reach out to your dedicated Partnership Manager via email.
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Otherwise please Reach out to our Partnerships team on [email protected]
We'd love to know more about your company, how you work and how you can integrate with us.
How can our Lender API benefit you
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Notifications will instantly inform you when a customer has matched your eligibility criteria. You can control when you consume a customer application e.g. choosing to pull application data in batch once a day and not be bound to consuming them individually
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You can query historic customer application information
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Your integration can be completed following your own schedule, with little to no dependency on Funding Options. We'll provide all integration documentation and our internal team will be available to support and test the integration
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We can notify lenders of a number of events relating our the customers, systems or operational teams actions. With full flexibility on how much or little you'd like to be informed of
Information that Funding Options can provide
We collect information from a number of sources and enrich application data in order to help you with your decisioning. The data points we collect allow us to build a broad set of criteria you can configure to help narrow down the right customers for your product offerings.
Realtime notifications to keep Lenders updated
Funding Options will notify you whenever something changes and you need to know, for example:
- When we receive an application and the customer matches your eligibility criteria
- When the customer has chosen your product on our results page and wants to progress
- Whether the customer has taken funds elsewhere, so you know to stop pursuing the customer
- Whether the customer has uploaded documents for you to review that may help with your decisioning
High level flow and customer journey visualised below
Information expected by Funding Options after successfully integrating with the Funding Cloud
Initial response - indicating your intention
Once we've sent you an initial application, we expect some basic information back in order to know what to present back to the customer on your behalf.
Initially we want a response including either an: Offer, Quote or Rejection.
Offer
This is a firm offer, which is you telling us you're confident you can offer this to the customer and the next step would be either some final checks (KYC/AML/hard credit check) or the customer would be ready to draw down if none are necessary.
Quote
A quote is an indicative offer and you telling us what you could offer the customer subject to further documents/information and necessary checks (KYC, AML, Credit etc.)
Rate
The rate at which you can offer either an Offer/Quote e.g. 2.5% monthly interest rate. We can work with you to present your specific rate 'type' accurately e.g. factor rate, APR, monthly interest rate, yield, discount fee, daily interest rate
Term Length
The length of the contract or repayment period of the loan
Rejection
Whether you reject this customer upon initial review and provide a reason why (categories for rejection can be agreed, you don't have to give the very detailed reason, knowing roughly why will help us improve our process)
Regular status updates as and when things change on your side
Once an application is with you and you're processing it for the customer, we expect the status and some information to be returned so that we know what's happening and can reflect this accurately to the customers