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Canopy Servicing and Moov Partner to Transform Loan Repayments for Lenders
Canopy Servicing, the leading commercial loan servicing platform, and Moov Financial, a leading provider of modern payment processing infrastructure, have joined forces to launch Canopy Repay, an integrated solution streamlining loan repayment operations for banks, non-bank lenders, and credit unions.
Combining Moov’s real-time payment capabilities with Canopy’s automated servicing technology, the partnership aims to deliver greater efficiency, reliability, and transparency in loan repayment processing.
Key Benefits of Canopy Repay:
- Simplified Payment Workflows: Reduces reliance on legacy payment providers and simplifies lender integrations.
- Enhanced Transaction Reliability: Leverages streaming architecture to reduce payment failures due to dropped or timed-out transactions.
- Real-Time Insights: Provides a unified dashboard with up-to-date loan and payment statuses for improved operational visibility.
This collaboration reflects the growing importance of embedded finance in modernizing lending operations.
“Canopy Repay marks a major step forward in loan repayment operations,” said Matt Bivons, CEO of Canopy. “By integrating Moov’s payment expertise with our servicing platform, we’re equipping lenders with a seamless, scalable solution to improve borrower experiences and boost revenue.”
“Moov believes borrowers should have flexible repayment options,” says Wade Arnold, CEO of Moov. “Through our partnership with Canopy, we enable lenders to offer seamless ACH and card payments for a better borrower experience. Supporting card brands’ debt repayment programs also reduces interchange fees, benefiting both borrowers and lenders.”
Canopy Repay will be available to Canopy’s client base of commercial lenders in June.
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APIs Driving Embedded Finance Innovation
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