Integrating with credit bureaus and managing borrower credit reporting can be extremely time-consuming and complex. Canopy has simplified and automated this task for you by partnering with Bloomcredit.
When you opt-in to have Canopy handle your credit reporting needs, you simply provide a few additional fields and Canopy will do the rest.
To opt-in to the automated credit reporting, please reach out to Canopy support. We can help guide you on next steps to getting onboarded with our partner, Bloomcredit.
When statements are generated for your accounts, Canopy will automatically calculate and format your data to be sent to Bloom Credit. If Bloom finds an error with configuration values, these will be delivered back to you via the Canopy webhook system.
Bloomcredit will automatically handle formatting and sharing the necessary data with the credit bureaus.
To be able to complete the automated credit reporting set up in Canopy, you must have an active account with Bloomcredit and have your credentials and keys ready for use in the set up process.
Updated 2 months ago