Prospective clients naturally ask a wide range of questions about our platform’s capabilities and features during the course of their evaluation. One theme we hear often is the need for ready access to data—whether for real-time actions, analytics, or investor and credit reporting.
In today’s world—where loan management systems are more nimble than ever—ready access to data can be a competitive advantage, helping lenders quickly assess portfolio performance and hone product-market fit. Additionally, the importance of clean and precise data from a compliance perspective has never been greater.
No matter your unique data access, analytics, and reporting needs, our underlying philosophy at Peach is that the data belongs to you. In other words, it’s our responsibility to ensure you have seamless access to your data when and where you need it. We’ve architected our platform from the very beginning to give you maximum flexibility in how you access data for various use cases.
There are three main ways our clients access their data.
Method 1: Direct API access
Peach is an API-first platform, so all your data is available via real-time API endpoints. The APIs available to our clients are the same ones we build on internally, so you can expect highly performant API access to our system. There are no hidden APIs.
API calls are suitable for things like getting loan balances for real-time decisioning and taking actions on loans and borrowers. Webhooks provide near-real-time push updates, while Events are suitable for information pulls.
API access, however, is not designed for operational reporting and analytics. That’s where the replica database comes in.
Method 2: Replica database
Peach provides a read-only replica of all important database tables. Part of the replica is a powerful snapshots table that provides a daily summary of all loans on a granular level (e.g., balances by accounting bucket). The replica is designed for operations, analytics, auditing, and financial accounting reporting and reconciliation.
Peach also provides an SQL analytics tool called Redash for custom reporting on the replica database. Alternatively, clients can ETL data into their data lake/warehouse (e.g., Snowflake, Fivetran, BigQuery, Redshift).
Not all data is created equal. We’ve thoughtfully handled PII, external IDs, rounding, dates and cutoff times, and data mapping. Ask your Peach team for more information about why our clients love Peach for their data and reporting needs.
Method 3: Third-party files
Peach provides a variety of configurable third-party reporting file types. These include the following:
Loan tapes & payment tapes – Clients can create a variety of loan tapes and payment tapes for recurring reporting to both sponsor banks and third-party capital providers. Tape types are configurable with field mapping to partner/investor schemas. Files can be sent via SFTP to you and/or to each investor in CSV format daily or monthly. Tapes can also include custom metadata you provide.
Metro 2® files – Metro 2 files are generated by Peach and are sent to you via SFTP. These files are compliant with credit furnishing standards as supported by the three major bureaus—Experian, Equifax, and TransUnion.
Statements – Peach can generate periodic statements for both lines of credit and installment programs. Statement frequency and data is fully configurable at the product-type level. Statements can be generated and delivered both electronically and via physical mail. Clients can also access raw statement data via API to generate statements directly.
A powerful feature of Peach’s platform is our proprietary Loan Replay™ capability. Retroactive changes to loans affect each of the third-party files above in different ways. Ask your Peach team for more information about how Peach’s system handles retroactive changes.
lender’s priority list. But that doesn’t mean compliance is straightforward, even for lenders with the most earnest intentions. Often, legacy infrastructure is the culprit, making it difficult for lenders to take the actions clearly outlined in the law. Even regulations that haven’t changed for some time—like the—still present significant challenges for many lenders.
The SCRA grants active-duty service members the ability to request certain protections during the period of their deployment, enabling them to devote their energy to serving the country. These protections include a reduction in interest rate to a maximum of six percent on any pre-service loans. While the SCRA in its current version has been law since 2003, the number of recent enforcement actions indicates just how difficult it is for many lenders to comply with the SCRA’s interest rate protections.
Blunt tools in the absence of a scalpel
For example, in October of 2022 the Department of Justice (DOJ) announced that the financial leasing arm of GM agreed to pay over $3.5 million to resolve allegations in relation to
Peach’s approach to SCRA
At Peach, we brought real-life lending experience to the design of our platform. So from day one, we recognized the importance of being able to make retroactive changes to loans. (There are numerous applications beyond SCRA, including our Supported Portfolio Migration.) In the case of SCRA, Peach has long enabled lenders to retroactively change interest rates and waive past fees—as separate, manual actions.
Peach’s approach to SCRA
This was functional, but the ideal way to implement SCRA is to make these changes simultaneously. We now support this capability by leveraging the power of Peach's Loan Replay™ engine, which can make changes to the ledger at any time, and then recalculate a loan’s history in light of those changes. The new combined functionality is as user-friendly for your agents as processing a payment.
Peach’s approach to SCRA
Specifically, the new SCRA feature allows your agents to perform the following adjustments simultaneously on a loan of an active-duty service member:
- Lower interest rates to 6% (and lower the recurring payment during the active-duty period to account for the interest rate reduction)
- Waive fees, if necessary
- Enact these changes retroactively, if necessary, and replay the loan history with the rate and fee adjustments
- Preview the intended changes
“We launched our first product on Peach in six weeks. Eighteen months later.”
John Smith, CMO
Our SCRA functionality is available via API as well as through our white-label agent tool. The white-label agent interface can be seen here:
Peach’s approach to SCRA
Our SCRA functionality is available via API as well as through our white-label agent tool. The white-label agent interface can be seen here:
For those working directly with the API, this can be as simple as sending the following request body to the SCRA endpoint:
You’ll receive a response with either the actual post-SCRA adjusted payment plan or a preview of it. Below is a comparison of a payment plan prior to the SCRA adjustment, and the expected payments after the SCRA adjustment. The SCRA period is in effect for the first two months, and thus you will see the interest rates lowered to 6% in the response body (and the recurring amount due lowered by the amount of the interest rate reduction for the two relevant months). The origination fee has also been canceled.
The breadth of loan data needing to be adjusted means that rewriting loan histories requires the right design and abstractions, and having a built-in layer of abstraction to handle retroactive changes is the only feasible approach. Because of our team’s combined experience in the real world of lending, we know that the need to edit past loan events is inevitable. So we’ve designed a system that makes these changes as painless and automated as possible.
