Fellow Finance Order API

Fellow Finance ​Order API allows investors to integrate with Fellow Finance platform. The API is created for investors ​willing to ​use their own credit scoring criteria. ​Fellow Finance Order API provides direct access to credit application flow with a possibility to place an offer instantly.

Order API will send every new credit application instantly to API investors and will insert ​new investment offers to the Fellow Finance Marketplace from investor APIs.

The API users and Fellow Finance website users have similar possibilities to invest into new loan applications.

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Who May Use the API?

Fellow finance Order API can be used for:

a) Selecting loans that matches the investment criteria of an individual institutional investor or an investment fund
b) Setting interest rate levels for each bid based on borrower data
c) Prefer direct acces to order flow and order execution details


The functionalities of API can be utilized by creating RESTful services according to Fellow Finance Order API specifications, ​thus solid programming skills and ​ability to utilize credit ​modelling are required to join the order flow with customized software and to execute desired investment strategy efficiently.
The API is targeted for institutional investors but can be utilized ​by private lenders with the ​required skillset.

What Services Are Available?

Currently Order API ​services for lender include:

1) Receive new loan applications with anonymized borrower data for scroring and selection purposes
2) Placing investment orders ​of new loan applications with required amount and investment rate to Marketplace
3) Receive execution and status information about ​investment offers (accepted/declined/cancelled)

The services are continously developed and API usage is carefully monitored to ensure reliable credit application delivery and investment process.

How to Enable Order API

The following two steps are required to enable programming interface:

1) Autoinvestor must set to API Mode by ​setting up Programming Interface options.
2) The service must be enabled by ​Fellow Finance compliance team.

Please contact customerservice@fellowfinance.fi for further instructions.

Order API Autoinvestor Setting Example

 

Overview of Order ​API

In order to work with the API, an investor must ​build a RESTful API ​that can be used over HTTPS protocol. All ​communication between Fellow Finance and ​investor implementation of Order API is based on standard HTTP methods.

Fellow Finance Order API Detailed Explanation All API data ​transferred by and to Fellow Finance is application/json coded​.

Example:

curl -X POST "https://​yourdomain.com/api/ExternalApiAccept" -H "Accept: application/json" -H "Content-Type: application/json" -d "{"LenderNumber":"12", "BidAmountWon":12.2, "ExternalReference":"123"}"

Order API Description

Fellow Finance order API is ​a RESTful API that uses standard HTTP calls for data transfer. It's designed to be as simple as possible with minimum effort required for application developers.

In order to work with Order API, an investor must implement and publish the methods. Fellow Finance will POST data for each investor Order API simultaneously. Currently the wait time for investment order is 5000 milliseconds. Replies containing ​an investment order that are not given inside that time frame are discarded, thus they are not part of the loan allocation process.

API Definitions

The following table describes the actions that are performed to RESTful Order API by Fellow Finance:

Purpose HTTP Verb URI Request and response description
New credit application POST https://yourdomain/ffOrder New application request body and response definition
Accepted investment POST https://yourdomain/ffOrderAccept Accept request body and response definition
Declined investment POST https://yourdomain/ffOrderDecline Decline request body and response definition
Cancelled investment POST https://yourdomain/ffOrderCancel Cancel request body and response definition

Order API ​URI ​must be ​spesified in Autoinvestor settings. URI for the new credit application is used by as the base URI for the Accept / Decline and Cancel POSTs. The base URI will be ​altered with the terms Accept / Decline and Cancel, respectively.

Example:

Action performed by Fellow Finance URI
POST new credit application https://yourdomain/ffOrder
Base URI set up by investor
POST Accept https://yourdomain/ffOrderAccept
Generated by Fellow Finance from the base URI
POST Decline https://yourdomain/ffOrderDecline
Generated by Fellow Finance from the base URI
POST Cancel https://yourdomain/ffOrderCance
Generated by Fellow Finance from the base URI

New Credit Application

When an underwrited credit application is inserted to the marketplace, it's instantly POSTed to all API allocators. An investor can reply with an investment offer inside a given time frame. 


Example new credig application request:

curl -X POST "https://yourdomain.com/api/ffOrder" -H "Accept: application/json" -H "Content-Type: application/json" -d "{
  "CustomerNumber": "sample string 1",
  "LenderNumber": "sample string 2",
  "ApplicationNumber": "sample string 3",
  "PrivateKey": "sample string 4",
  "Loan_Brand": 0,
  "Loan_Brand_Id": "sample string 5",
  "Loan_Amount": 6.0,
  "Loan_Purpose": 0,
  "Loan_Purpose_Id": "sample string 7",
  "Loan_Purpose_Int": 8,
  "Loan_MonthlyPmt": 9.0,
  "Loan_RiskClass": 10,
  "Loan_Length": 11,
  "Loan_Currency": "sample string 12",
  "IncomeAndExpenses_GrossIncomePerMonth": 13.0,
  "IncomeAndExpenses_CostOfHousingPerMonth": 14.0,
  "IncomeAndExpenses_OtherCostsPerMonth": 15.0,
  "IncomeAndExpenses_IncomeVerificationDatetime": "2016-03-09T19:58:58.6889315+00:00",
  "IncomeAndExpenses_OtherIncomePerMonth": 17.0,
  "IncomeAndExpenses_OtherLoanPaymentsPerMonth": 18.0,
  "IncomeAndExpenses_StatisticalExpensesPerMonth": 19.0,
  "IncomeAndExpenses_LoanPaymentsPerMonths": 20.0,
  "IncomeAndExpenses_CreditLimit_Base": 21.0,
  "LoanHistory_AveragePaymentDelay": 22.0,
  "LoanHistory_MaxPaymentDelayInDays": 23,
  "LoanHistory_PaidInstallmentCount": 24,
  "LoanHistory_CreditBureauReportingTime": "2016-03-09T19:58:58.6889315+00:00",
  "LoanHistory_PaidLoanCount": 26,
  "LoanHistory_PaidLoans": 27.0,
  "Customer_Age": 28,
  "Customer_Language": 0,
  "Customer_Language_Id": "sample string 29",
  "Customer_ResidenceType": 0,
  "Customer_ResidenceType_Id": "sample string 30",
  "Customer_ResidenceOwnership": 0,
  "Customer_ResidenceOwnership_Id": "sample string 31",
  "Customer_Gender": 0,
  "Customer_Gender_Id": "sample string 32",
  "Customer_MaritalStatus": 0,
  "Customer_MaritalStatus_Id": "sample string 33",
  "Customer_BusinessType": 0,
  "Customer_BusinessType_Id": "sample string 34",
  "Customer_EmploymentStatus": 0,
  "Customer_EmploymentStatus_Id": "sample string 35",
  "Cust_City": "sample string 36",
  "Customer_Children": 37,
  "Customer_EducationLevel": 0,
  "Customer_EducationLevel_Id": "sample string 38",
  "Customer_hasCreditCard": true
}"


Example ​response for new credit application from an investor API:

"{ "InvestmentAmount": 499.80, "InvestmentRate": 17, "ExternalReference": "​123445" }"


For the detailed information about the enumerations, please refer to API definitions. 

Accepted / Declined / Cancelled

After all investment orders are in place, a credit application is allocated with investment orders. If the API order is accepted among the lowest participating orders, Fellow Finance will POST Accept with the investment amount.