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Canopy Servicing & Moov Launch Canopy Repay for Seamless Loan Repayment
Slice of Finance Team
17 Feb
Key Highlights:
Simplified Payment Workflows – Eliminates reliance on legacy payment providers, streamlining lender integrations.
Enhanced Transaction Reliability – Utilizes streaming architecture to reduce payment failures.
Real-Time Insights – Unified dashboard with up-to-date loan and payment statuses for better visibility.
Flexible Repayment Options – Supports seamless ACH and card payments while reducing interchange fees.
Source: Business Wire
Notable Quotes:
“Canopy Repay marks a major step forward in loan repayment operations. 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. 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.”
Why This Matters:
The launch of Canopy Repay highlights the increasing role of embedded finance in modernizing loan repayment. By integrating Moov’s real-time payment capabilities with Canopy’s automated servicing platform, this solution enhances efficiency, reliability, and transparency for commercial lenders. With availability starting in June, lenders can expect faster payment processing, reduced transaction failures, and improved borrower satisfaction—all key factors in today’s competitive lending landscape.