Lending FAQs

Technical FAQs for Engineers:

In what sequence should the API calls be made?

The sequence of the API calls, as shown in the block diagrams, must remain the same for all sessions. However, the user journey can vary.

How do we use the reference_id parameter in the API calls?

The reference_id acts as a unique identifier for each API call. It helps in tracking and referencing requests and responses.

What does the "message": "PAN number already exists. Please enter a valid unique PAN number." response mean in the Update Application API?

This could mean one of two things:

• The PAN number already exists with the current user, allowing them to proceed in the cycle.
• The PAN number exists for a different user, requiring the user to go back and either create a new profile or enter a different PAN number.

Why are the currentAddress and permanentAddress fields empty in the Get Applicant Details API response?

At this point, Decentro has not yet triggered the call to retrieve these fields. This trigger happens after the call to the Update Application API.

What is the significance of the eligibility_check_transaction_id parameter?

It helps in referencing and ensuring that eligibility checks correspond to the right applicant and session.
Conceptual FAQs for General Understanding:

What is the primary purpose of Decentro's Lending Stack?

Decentro's Lending Stack is designed to streamline and automate the loan application process, ensuring both customization and compliance.

What is the difference between basic eligibility and full eligibility?

Basic eligibility doesn't require an amount to complete, while full eligibility includes an amount parameter after the user completes a full cycle of application.

Why is there a need to check eligibility twice?

The first check ensures basic eligibility. After updating the applicant's profile and confirming other details, the second check ensures comprehensive eligibility with an amount.

What is the purpose of the OTP in the Confirm Facility API?

The OTP (One-Time Password) sent to the applicant's mobile number is used to confirm the lending facility selected, ensuring authenticity and security in the decision-making process.

Business FAQs for Founders and Business Leaders:

How can Decentro's Lending Stack benefit my business?

The Lending Stack provides an automated, streamlined, and compliant way to process loan applications, reducing manual errors and improving efficiency.

How can I customize the user journey in my application while using Decentro's Lending Stack?

While the sequence of the API calls must remain consistent, you can design the user journey as per your platform's needs, ensuring a seamless experience for your users.

Q: How does the lending stack ensure compliance?

The lending stack is designed with compliance in mind, ensuring that all necessary steps, checks, and confirmations are in place throughout the loan application process.

What kind of support can I expect if I integrate Decentro's Lending Stack into my platform?

Decentro offers detailed documentation, technical support, and a set of robust APIs to assist businesses in integrating and using the Lending Stack effectively.

What are the core problems Decentro is solving for businesses?

Decentro is focused on helping platforms go live with lending products without the hassles of having to integrate with NBFCs in the backend or worry about experience. All with a simple set of APIs or an SDK.

What is the benefit of using Decentro’s Lending module?

Decentro’s Lending module provides multiple benefits.

• Full white-labeled SaaS platform
• Integrated with multiple lenders in the backend
• Handles all disbursements and repayments
• Dashboard for monitoring everything

How is Decentro able to power lending through its platform?

Decentro is a core SaaS platform and has partnered with lenders (NBFCs) in the backend to underwrite and disburse loans to businesses or individuals in the backend. Decentro, on its own, doesn't underwrite the customers.

Who can use Decentro's lending stack?

Decentro extends its stack to any platform that has customers based out of India and is looking to embed lending as part of its stack. Decentro extends APIs or SDKs that can be used by platforms to embed credit.

Can Decentro configure custom rules and flows?

Decentro has a standard flow to start off with as part of its journey. Within the flow, Decentro can change the rules if the platform wishes to underwrite using a different set of rules compared to the default rules.

Can the platform disburse funds from its end?

Decentro's lending stack is fully managed i,e the lender in the backend disburses the funds from their account to the borrower or the merchant as per regulatory requirements. The platform will be notified of the disbursements by Decentro.

If you still have queries about Decentro's lending stack, drop us a note at [email protected] and our team will reach out to you.

If you are someone looking to explore this capability, drop us a note at [email protected] and our team will reach out to you.