Smile API

Loan application fraud is a significant threat to lenders, which can lead to significant profit loss for lenders. How can you prevent this? In 2023, 80% of risk and ops leaders said they saw a YOY increase in fraud attempts. With the rampant fraud attempts continuously plaguing the industry, it is no wonder why a lot of lending companies report losses year per year. In order to stop or lessen the chances of falling victim into one of these fraud attempts, it is important banks and lending companies are able to detect the red flags in loan applications by verifying borrower profiles from the get-go. With Smile API, comapnies are able to assess the validity of a borrower's profile, especially when it comes to employment. If proven fraudulent, credit risk managers are able to disapprove their request for loans. Read more about Smile API 👉 https://lnkd.in/gCUTWnMe #SmileAPI #FinTech #FintechNews #latestFintech

Lenders who verify employment data not only reduce risks but also earn a solid reputation for responsible lending. 🤝 With Smile API, you get access to real-time, verified employment data that helps assess creditworthiness faster and more accurately. Learn more about us 👉 https://lnkd.in/gCUTWnMe #SmileAPI #FinTech #FintechNews #latestFintech

Why are lenders making the switch to automated employment verification? 💻 Manual checks can be slow, error-prone, and it just doesn’t work nowadays. Here's why lenders are shifting towards automating employment verification. Learn more about Smile API 👉 https://lnkd.in/gCUTWnMe #SmileAPI #FinTech #FintechNews #latestFintech

Happy New Year! 🥳🍾 In behalf of the Smile API team, may our 2025 be filled with new opportunities to grow, trust, and succeed! 💼 #SmileAPI #FinTech #HappyNewYear

Employment data offers lenders a detailed look into a borrower’s financial reliability and stability, making it an invaluable way for creditworthiness evaluation. Learn how Smile API verifies employment data for banks and lending institutions 👉 https://lnkd.in/gCUTWnMe #SmileAPI #FinTech #FintechNews #latestFintech

With the improvement of tech, it is time more companies join the fold in making lending more data driven, but how do we do it? Data-driven lending uses alternative data sources and advanced analytics to assess creditworthiness more accurately. This approach can help overcome traditional barriers to SME lending, such as lack of collateral or credit history. By using accurate employment data, lenders can make better-informed decisions, reduce risks, and improve the overall loan approval process. This is made possible due to the fact that employment data assures lenders that loan applicants have a stable income stream that can be used to pay loans. Lenders should invest in making lending more data-based by exploring alternative data sources like Smile API. With Smile API. lenders are able to assess employment data and this helps in making decisions on loan approvals Learn more about us 👉 https://lnkd.in/gCUTWnMe #SmileAPI #FinTech #FintechNews #latestFintech

Non-performing loans (NPLs) and loan fraud are a significant challenge for the lending industry, with various types of fraud exploiting the security of lending processes. In order to prevent this, banks and lending institutions should be able to understand borrowers on a deeper level, adopting better solutions for assessing customer account data. Without doing any type of prevention, loan frauds and NPLs can result in significant financial and reputational damage for lending businesses, as well as ruining individuals' credit ratings when their identities are stolen. Smile API helps verify employment data, which helps assess one's employment stability. With a stable, reputable employment and income stream, credit risk managers are able to assess one's creditworthiness and approve loans that pass the assessment. Visit Smile API to know more 👉 https://zurl.co/keur #SmileAPI #FinTech #FintechNews #latestFintech

Merry Christmas from Smile! 🎁🎅 As we celebrate the holidays, we hope that the festivities put a smile on your face. 😄 Here’s to a season filled with joy, success, and Smile. 😊 #SmileAPI #FinTech #FintechNews #latestFintech

Merry Christmas from Smile! 🎁🎅 As we celebrate the holidays, we hope the festivities put a smile on your face. 😄 Here’s to a season filled with joy, success, and Smile. 😊"

Nowadays, it has been easy to gain access to real-time data, thanks to fintech companies providing solutions to multiple businesses. How important is this when it comes to lending? In countries like the US, the digital lending market is estimated to be worth $457 billion in 2024. In the Philippines, about 63.4% of the time was spent on platforms offering personal loans. The rise in demand has paved the way for a more efficient and developed lending experience. By using real-time data, verification of loan applications are easier, and lenders who adopt these technologies are able to offer faster, more personalized, and accessible financial services. Smile API provides banks and lending institutions with real-time employment data which can be used for loan approvals. Check out Smile API 👉 https://zurl.co/prxr #SmileAPI #FinTech #FintechNews #latestFintech Note: Comment CTA for LinkedIn