The Balance team
Monthly recap

Product Update: March 2024

AUTHOR: The Balance team

This month, we're excited to share significant enhancements across our credit and payments products—from the new activity log to new features to improve the ease and convenience of the credit application. 

Providing visibility behind buyer declines

Addressing the challenge of buyer declines, we now provide transparency by exposing decline reasons directly on the dashboard. This ensures that you are well-informed regarding declines, fostering clear communication and maintaining strong relationships with your customers. 

Learn more in our API docs

Copy link to buyer application

Sometimes, buyers may need a gentle reminder to finish the terms application process. In response to your feedback, we've introduced a helpful feature: the 'Copy Application Link.' This allows you to easily share the application link with your customers. The application also automatically saves their progress, so they can always continue from where they left off.

Learn more in our API docs.

Improving buyer validation with W9 upload

We've introduced a new feature to simplify the validation of buyer details. Occasionally, Balance requires a W9 form to verify buyer information. Now, we have a dedicated page that you can easily share with your customers using the 'Copy Application Link' feature.

This will allow you to send the link directly to your buyers, and have them upload the file in a new dedicated screen we've built.

As soon as this document is uploaded, it will be available in the case management tool for Balance to review and complete the underwriting process for the buyer.

Learn more buyer qualification in our docs.

New activity log

We’ve enhanced the functionality of our activity log and dashboard performance when using the "Your Balance" page. This improvement is designed to provide a smoother experience for tracking your account activity, allowing you to seamlessly check your balance and review activity over extended periods without any interruptions or performance issues.

In addition, we expanded the capability to extract a CSV report of your activity log. This feature is now accessible not only through the dashboard but also via a newly integrated API for report generation.

The updated activity log offers improved visibility in presenting data, enabling you to comprehensively understand each activity within your account. This includes the identification of charged fees, as well as incoming payments and outgoing payouts.

These enhancements aim to streamline your accounting and reconciliation processes, contributing to a more efficient tracking and management of your financial activities.

Learn more in our API docs.

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