Setup Canopy

1. Create a Canopy Organization#

Before anything else, you'll need to sign up for Canopy. This can be done completely self-service by creating an account at play.canopyservicing.com.



Once you're comfortable with our sandbox, contact our team to move your account to production.


2. Generate an API Key#

You'll need credentials to start using Canopy. Don't worry, these are easy to create. Simply click on the dropdown in the top-right section of the Canopy dashboard, and navigate to the App Keys section.




3. Create a Product Configuration#

Canopy lets you manage a portfolio of lending products. You are not limited to a certain product type -- check out the use-cases section of our homepage to see the types of products you can offer borrowers.

To get started, take a look at our Configuration Guides (lefthand navigation). Choose the Create Product payload that makes the most sense for your organization and simply tweak the configurations as needed. Check out our Config tips for Products for a more detailed breakdown of key parameters, or our API Reference for a more formal API definition.

For most parameters, you can simply rely on default values, so configuring a product that makes sense for your business case can be done within 30 minutes and no-code.




4. Add a Test Account to Your Product (optional)#

At this point, you're ready to onboard your first borrowers! In reality, this is a low-code, automated process. Once you've approved a borrower, simply let Canopy know about it.

If you're just playing around with our API, you can simulate onboarding a borrower through API requests from a REST client such as Postman.

This is accomplished with two API calls:

Customers and Accounts in Canopy have a many-to-many relationship. So, for example, you could set up two customers with a joint account (two customers to one account), or you could have a single customer with an installment loan and a charge card (one customer with two accounts).

In the 6 minute video example below, we onboard a single customer to an account, enrolled in the Installment Loan product we created in the previous step.




Enable Webhooks (optional)#

You may want to notify borrowers or external systems of different events. For example: When their statement is generated, when their payments are due, etc.

To do so, you may subscribe to webhooks by populating the webhook_url in the App Keys page of your Canopy dashboard. For a more detailed breakdown of webhooks in Canopy, check out our developer guide to using webhooks.