SAN FRANCISCO & WEIR, Kan.--(BUSINESS WIRE)--Canopy Servicing, the leading modern platform for managing and servicing loans, today announced a new partnership with CBW Bank, a historic institution known for its pioneering use of technology. With the partnership, CBW Bank becomes the first member of the Federal Deposit Insurance Corporation to embrace a fully configurable loan management and servicing platform.
Founded in 1892, CBW Bank has been at the forefront as banking technology has evolved.
“Fortune magazine called CBW Bank ‘a secret weapon for Fintechs’ due to their astute grasp of new technologies,” said Canopy Servicing Co-Founder and CEO Matt Bivons. “We are incredibly proud to partner with them to reimagine credit and lending to better meet the needs of today’s borrowers and lenders.”
CBW Bank will integrate Canopy Servicing into its loan repayment and disbursement methods (“CBW Services”), which currently includes a merchant acquiring system for account funding and instant disbursement, virtual card and instant credit card issuance, Real Time Payments through The Clearing House, Bill Pay, ACH payments, KYC API services, lending as a service (Bank sponsorship), and blockchain-based securitization and tokenization services.
This partnership will enable Fintechs at all stages, including early stage Fintechs, to rapidly launch their programs within weeks, while working directly with CBW Bank and leveraging Canopy’s technologies.
“We are entering a new era of differentiated credit and lending products that are made possible by modern loan management and servicing,” said CBW Bank President Suchitra Padmanabhan. “With Canopy’s advanced and configurable platform, CBW Bank and our Fintech clients can offer highly personalized and transparent credit and lending services.”
To learn more about the Canopy Servicing loan management and servicing platform, visit www.canopyservicing.com. Both Canopy Servicing and CBW Bank will be at Lendit Nexus 2022 in Miami, Florida.
About Canopy Servicing
Canopy is a modern platform for managing and servicing loans. Our API-first architecture ensures any brand can embed financial products, bring those products to market quickly, and support those products with world-class service in a highly secure and compliant way.
About CBW Bank
CBW Bank was founded in 1892 in Weir, KS. In 2009, it was acquired by its current management team, which includes ex-Google, ex-Yahoo, and Wall Street executives. The city of Weir, founded in 1892, was a zinc mining and coal mining center.
CBW Bank has sponsored/supported on its platform numerous innovative applications in the areas of blockchain ledger, deposits, cross border payments, and lending. With rapidly evolving technologies and regulations, CBW Bank expects to continue to develop and launch products and services that leverage these changes and innovations to serve its customers better. For inquiries contact info@cbwbank.com.
