<aside> 🎯 The core onboarding workflow will consist of three main steps:
</aside>
<aside> 💡 The specific parameters used will evolve over the implementation cycle. The sandbox is your space to experiment with multiple types of product constructs. This document is put together to help construct the core technical workflow in implementing with Canopy.
</aside>
<aside> 💡 A product in Canopy is a template that lays out the general policies to be enforced over your borrower’s lifecycle. The majority of these policies can be optionally overridden when onboarding each individual borrower.
In production, you will likely only have one or two official products in your system. In your sandbox, you can experiment with a variety of product setups to figure out which best meet your needs.
A product can serve as the template for Revolving lines of credit, Installment loans, and Hybrid-type loan agreements, depending on which parameter values you set in the API call.
</aside>
<aside> 💡 Onboarding a borrower consists of two API calls:
Create a customer (static data like name, email, etc) — this is used for both B2C and B2B borrowers.
Create an account (computational data like interest rate, loan amount, etc) — this is used for Revolving lines of credit, Installment loans, and Hybrid-type loan agreements.
*** In the Create Account API call, you will need to link the customer ID from the Create Customer API call. If you are using one of Canopy’s out-of-the-box front-ends, unlinked Customers and unlinked Accounts will not be visible in the UI.
</aside>
<aside> 💡 We strongly recommend getting started on your first day in the Sandbox by just onboarding a borrower with a very basic sample payload. Once you’ve onboarded a borrower and understand the core workflow, you can use our policy configuration guide to figure out how to enforce the actual key behavior you want to see in the system.
</aside>
Charges (sometimes called purchases or draws)
Installment Loans