Alchemy FinTech Lending System announces today the full integration with Twilio and Sendgrid to build out the next generation of FinTech lending workflow.
Banks and FinTech are ever-increasing worried about a fast, accurate and friendly consumer onboarding process. Alchemy has been working on solving some of the most difficult onboarding issues with some of the newest FinTech players in student lending, point of sale financing and home improvement space.
Having a secure, automated and real-time mobile phone and email verification service has become table stakes for most of the FinTech lending platforms out there. Alchemy’s FinTech Lending Operating System has seamlessly integrated with some of the most advanced email and mobile phones verification service providers such as Twilio and Sendgrid.
We have recently announced our successful integration with Solutions By Text. To provide more options and choices for our clients to further their customer onboarding experience, we partnered with Twilio to provide a different mobile and web experience in terms of a mobile phone number verification process.
Our email solutions partner Sendgrid has the state of the art email verification solution that’s quick, user-friendly and provides a robust set of APIs for a set of solid integration points.
Alchemy leverages both Twilio and Sendgrid to develop a quick and easy customer onboarding experience to quickly and accurately identify end customers for Alchemy clients.
Fraud Risk Management
Today, fraud risk is almost as important as credit risk. The ability to identify the customer and their email plus mobile device are paramount to ensure the first level of validation to complete in real-time.
Some of the banks and lenders are still relying on having customers upload documents and identification paperwork, or worse phone calls to the customer to validate the customer’s identity. With Alchemy’s lending solution with today’s Sendgrid and Twilio integration, we just made this process even easier for our clients.
FinTech and Banks can now comfortably onboarding clients knowing that the client’s mobile phone, email addresses are verified in real-time.
Onboarding Use Cases
In a typical onboarding flow on Alchemy’s platform. The customer provides a minimum amount of information and our platform pulls most of the identifiable information from all third-party vendors such as Twilio, Sendgrid, Plaid etc.
Once the end customer is checked out by validating his or her identity, and qusi-personally identifiable information such as phone and email, the system is then moving on to putting together credit and debit information for formulating a risk-based pricing matrix to provide end customers with a variety of product offerings.
Lastly, after the customer is onboarded. Verified email and mobile phone number are then used to communicate key marketing and account management information to the end clients. Typically, our clients use SMS, In-App Notification and Emails to notify their end clients about impending payments that are due or late.
Building Alchemy Credit Tool Set
We are constantly working with Credit Bureaus, Data Vendors to enable their products within our Alchemy eco-system. We are all about choices and offerings to our clients. Integration suh as Sendgrid and Twillio helps our customers to reduce fraud and compliance risk by automatically verifying their eamil and mobile phone number in real time.
The Alchemy’s new integration partnership with Sendgrid and Twilio is another step towards making lending technology available for traditional banks, community banks, finance companies, and upstart FinTechs to compete in today’s market. Our goal is to make “Tech” in FinTech available to everyone.
A History of Innovation
We are constantly evaluating the best set of tools to integrate with Alchemy Lending Operating System. Whether it is third party databases or other algorithmic-based companies, we constantly looking in ways to help our clients to solve the most difficult issues at hand.
If you are interested in building new and innovative solutions with us, please send me an email or email firstname.lastname@example.org. We would love to speak with you.
Our singular vision is to enable the next generation of FinTech evolution with domain knowledge, technology, artificial neural network algorithm, and compliance-driven serving call center to deliver the best product experience for our clients, their partners and ultimately consumers.
About Alchemy Technology, Inc.
Alchemy Technology Inc. is industry-first lending as a service company offering our of the box technology, algorithms and servicing to launch FinTech products for FinTech startups, specialty financing companies and Banks alike. Our vertical workflow specializes in Student Lending and Home Improvement spaces. Our technology offering includes website / mobile app, loan origination system, decision engine, loan management system, payment gateways, and secondary market access.
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