Canopy has two types of promotions --- "Introductory Promos" and "Temporary Promos". Introductory promos are baked into your product construct. They allow us to dynamically support multiple product constructs such as revolving, installment, and multi-advance.
With Introductory Promos, you can provide a full set of policies that will apply for the borrower starting at their origination date and continuing until the specified end-date of the Introductory Promo. For example, you could start them on a revolving credit product whose balance amortizes at the end of the Introductory Promo. Or you could simply offer them no interest for the first six months, or other special promotions to make your product more enticing to the borrower.
Unlike Introductory Promotions, Temporary Promotions do not start at account origination. Instead, you provide a specific start and end date, as well as a list of policies to change during the temporary promotion. Once the promotion's start date comes around, Canopy will kick off a change in the policies for the borrower. When the end date comes around, all policies will revert back to their initial value. For instance, you may use a temp-promo to lower the interest rate for some or all borrowers to 1% for the first six months of the year.
Temporary Promotions can be plugged into Canopy's automations framework for more ad-hoc flexibility. This lets you select a subset of borrowers based on a query, and trigger a Temporary Promotion for all of those borrowers. For example, let's say a natural disaster occurred in Florida -- you can waive late fees for all borrowers based in Florida for the next three months.