LIXI2 Open API Demonstration from LeadPoint DMS
Frustrated by slow and expensive data integrations in lending?
Interested in seeing how loan contract document packs can be generated and delivered instantly to an e-sign platform?
In an industry first, LeadPoint Digital Mortgage Services (LeadPoint DMS) has made an instance of their LIXI2 based WebMortgages service available to the LIXI Community. This API exposes functionality to generate a set of loan documents to be delivered to their client bank's customers instantly using Adobe Sign. It's been configured for a fictional bank (LIXI Bank) so our community can experience the ease of integration using LIXI2.
The use of LIXI2 interfaces eliminates many of the barriers to change in third party integrations that are based on either inconsistent or incompatible data models. These become fundamental barriers to successful digital transformations and contribute to many failed efforts. Lenders spend way too much time, money and effort transforming data into formats that suit their business partners rather than using the data in the format that suits the lender. The implementation of any future change becomes slow, expensive and quite frankly impractical, and contributes to a backlog of legacy issues and technical debt.
This is where the LIXI2 data standards are a breath of fresh air. We have an enormously comprehensive set of data standards and tools that cover all stages of the origination of a wide range of credit and deposit products, from fact find and needs analysis all the way through origination to settlement and beyond. Lenders using LIXI2 no longer need to execute complicated data transformations endlessly in order to process it through their workflow.
You can watch the short video of the demonstration below, and if you're interested in seeing the API in action, contact firstname.lastname@example.org for an API Key. With this key, you will be able access the API using the form published here, available to users logged into the LIXI Website. With this you can see how the LeadPoint DMS has used a number of the LIXI2 frameworks, including our Open API specification, Customisation By Restriction, and the Schematron Rules for implementing validation logic, and the Customisable Forms and the LIXI Python Package to simplify integration.
As an ex-developer, one of the most amazing lightbulb moments I had was the first time I switched from our LIXI Demonstration API to the LeadPoint DMS Demonstration API. This switch, effectively between service providers, took under 30 seconds and involved a couple of lines of configuration. This is the future of APIs in lending - and as more participants adopt it, the ease of every future integration improves further.
– Shane Rigby, LIXI CEO
"Not only is speed to formal approval essential for digital lenders, so too is speed to settlement. LIXI and LeadPoint DMS demonstrate how both can be achieved in our Demo API; approval to e-signed documents ready for settlement in less than 5 minutes. See how easy it is to connect to our WebMortgages E-Sign Service using LIXI2 and Open API Standards."
– David Maher, Director and Legal Practitioner, LeadPoint DMS
What is LeadPoint Digital Mortgage Services?
LeadPoint Digital Mortgage Services (LeadPoint DMS) is a legal fintech which specialises in providing innovative, secure and intelligent national mortgage services to Banks, Mutuals and Non-Bank Lenders. The implementation of the LIXI2 Standards created new opportunities for LeadPoint DMS to integrate their platform with Lender and e-sign platforms to redefine and digitise the documentation, e-signing and loan fulfilment process. For more information visit the LeadPoint DMS Website.
If you would like to add your success story about LIXI2 to the growing list, then please feel free to get in touch with us here.
Shane Rigby, LIXI Limited CEO
First Published: September 7, 2021