Let’s face it, credit and lending programs are complex - and your ledger is at the core of all of it, with zero room for error.
That's where LoanLab comes in, offering you a safe environment to simulate and test your policies, providing you with complete confidence in the outputs and behaviors you can expect from Canopy's system.
We created LoanLab with the goal of allowing you to make informed decisions, manage loans with confidence, and optimize efficiency and accuracy.
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Here are just a few use cases we thought you may find LoanLab useful for:
Experiment with New Products
Ready to expand into new markets? Simulate accounts on various product configurations to learn which is more effective for your business.
Validate Account Behaviors
Setup an entire account lifecycle to simulate and validate behaviors such as what happens when a partial payment is made, when exactly the account will go delinquent, and more.
Learn Canopy’s System
LoanLab is the perfect place to test out new features or train new members on the old ones!
When will the late fee be charged and how much will it be?
When exactly will an account go delinquent?
What happens if a borrower only makes a partial payment?
If I offer a product with a lower min pay, what will that mean for the overall interest collected over the account’s lifecycle?
What will the resulting statement min due amount be if a refund is applied?
and much more!
Updated about 2 months ago