Loan Journey Stages
The steps in the lending jounery can be categorized into the following stages.
- Stage 1: Auth APIs, is a generic collection of Auth APIs used for all requests by all participants on the platform.
- Stage 2: Onboarding, is done via a UI portal and does not have APIs
- Stages 3-5: Loan application prep to Offer selection to disbursement, happen in sequence and depict the core loan application processing steps and involve the LA and Lender.
- Stage 6: Post-disbursement, varies for different products based on how collections are setup.
- Stage 7: Partner APIs, is the colection of APIs used by Lenders with other participants outside of LA.
| # | Stage | Explanation |
|---|---|---|
| 1 | Auth APIs | APIs for authentication needed by all participants for all APIs |
| 2 | Onboarding | Portal based onboarding of participants and products onto the registries |
| 3 | Loan application prep | APIs that help prepare the loan application. Eg: Credit Guarantee APIs |
| 4 | Application auction & offer | APIs for Loan Application to be processed by multiple lenders |
| 5 | Offer selection to disbursement | APIs for offer selection, KYC, agreement, repayment and disbursement |
| 6 | Post-disbursement | APIs for steps post-disbursement. Eg: Repayment, Loan Details, Collections |
| 7 | Partner APIs | APIs involving partners (DDP, KYC, Collections, Disbursement partners) |