Hey HN,
I’m Matt the cofounder and CEO of Canopy (https://canopyservicing.com/) - we are building an API first loan management system (LMS). All companies who offer lending or want to offer lending have a need for servicing infrastructure. Most startups get off the ground with a system of record that is mutable (Google sheets in some cases) and almost always have trouble handling time. Things happen in the past (payment reversals, charge backs, etc…) but the minute you edit the past, you affect the integrity of the data. And when you remove or add an event to the past (or future) then all other events in the queue need to be reprocessed. At scale, this creates a ton of performance issues. This is why most systems are not real-time and are built on standard cycle dates - try asking your credit card company how much interest will be saved by overpaying your min due tomorrow at 2pm.
Canopy is an immutable, line item level system of record based on an event driven architecture. Each event on our system processes in real-time and can generate an offset (retroactive event) while still preserving immutability. Our actual vs effective at end points make migrating off existing dbs simple. We make financial product creation quick, real-time, and can flex to multiple asset classes (i.e. can support card programs and multiple processors via webhooks). This saves a ton of time and headaches for developers.
We are just coming out of stealth and opening up our sandbox. Feel free to play around in our sandbox here: https://canopyservicing.com/
Would love your perspective and feedback on what we built. Happy to answer any questions.
