ahegevall
For existing customers, we have and are in the process of building monitoring systems to verify customers are sending required communications (ie signed loan agreements, adverse action notices, payment reminders, statements, etc) and that their decisioning aligns with the credit policy we've approved.
In the near future, we're going to build tools to automate/handle a lot of the compliance-sensitive processes/ops for teams that don't want to own it themselves. This will include Pier-powered user communications and underwriting, among other things. We'll have more to share on this soon!
We currently use sameday, nextday and standard-ACH for fund flows. We're keeping a close eye on new payments rails like FedNow to speed up loan funding for borrowers and are looking to add more funding/payment methods soon!
Our credit application API will return an error if you try to approve a set of offer terms for a user that violates their state's limits.
We also have a couple utility endpoints that help with coverage and compliance checks: 1) a coverage endpoint that returns the basic limits for each state and 2) an endpoint that allows you to verify if a set of offer terms are compliant for a given state.