Canopy Feature ReleaseAnalyze, Service, & Track BNPL Portfolios with Ease

Canopy HQ

 ·  By Josh Kaplan
An ornamental chain of wooden houses illustrates the availability of Canopy's BNPL Toolkit in our holiday release

The holiday season is upon us and Canopy has several special loan management and servicing stocking stuffers we’ve prepared just for you.

BNPL Merchant Toolkit

Safely offer BNPL financing through any merchant in the form of a simple and transparent borrower experience. The Canopy System of Record now includes the concept of Merchant entities so that all the data for operations, sales, and risk can be found in one place. This makes it infinitely easier for providers to analyze, service, and track BNPL portfolios.

  • Manage large portfolios of merchants and lenders

Easily verify the quality of loans sourced by merchants in your program and report back to the appropriate lender in a secure and automated way.

  • Monitor performance by account, by individual loan, and by merchant in real time

Say goodbye to manual, batch reporting. Canopy’s API ensures you always have access to the most up-to-date information.

  • Offer customized promotions

New no payment, no interest financing configurations can enhance the value you bring to merchants while making it easier for consumers to afford the goods and services they need. With the BNPL Merchant Toolkits, agents are empowered to defer required payments and to extend a temporary line of credit embedded into the non-revolving loan. As the line of credit is paid back, you can configure payment pouring logic and determine the order in which fees, interest, and principal are paid off.

ACH Controller

Generate and transmit NACHA files needed for disbursements, borrower re-payments, merchant payouts, and borrower refunds. Calculate and split loan amounts to multiple parties based on business rules. Manage NACHA file exceptions.

  • Streamline money movement

Set business rules that govern the flow of electronic funds to all parties involved in a transaction. Automate merchant payouts and borrower refunds and minimize reliance on third parties.

New Repayment Partner: Authorize.Net

Accept borrower re-payments via credit card through Authorize.Net, and have them automatically recorded in an immutable ledger. 

  • Maximize repayment flexibility

Borrowers can repay loans using their preferred method — online, mobile, or voice. 

Account Info Update

Receive real-time notifications whenever an account is created or updated.

  • Ensure regulatory compliance

Monitor new accounts for compliance with applicable regulations around borrower communication and more.

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