Agency software provider partners with proptech firm to offer rent recognition tools

Estate agents using MRI Software for their property technology are to be given access to rent recognition provider Canopy’s tools.

Users will be able to access Canopy’s RentPassport, which builds a digital profile of a tenant, as well as its Rent Tracking product that ensures rental payments are recorded on credit reports.

Tahir Farooqui, chief executive of Canopy, said: “We are committed to empowering renters by improving their access to better credit and building a more financially inclusive society.

“Our partnership with MRI, a global leader in real estate software, is a first step towards partnering with property software companies who are similarly focused on providing innovative solutions to property agents in the UK market, as well as share our ethos of helping renters build a better financial future.”

Ben Berk, director of MRI Software’s Partner Connect programme, said: “Estate agents in the UK that use MRI Software now have access to an even broader range of solutions to better compete in the evolving build-to-rent sector.

“We’re proud to partner with innovative companies like Canopy that offer flexibility and choice to our clients.”

Canopy’s services are offered using Open Banking – which gives third parties permission to access live data financial data from the main banks.

It was a recipient of £100,000 funding from the Treasury’s Rent Recognition Challenge, which sought ideas on how to get rental payments recorded on tenant scores.

Another recipient was FirstHomeCoach – the brainchild of former HSBC head of financial institutions Ben Leonard – which has launched a test version of its website which will both let users get their rental payments recorded on their credit report and provide guidance and support on saving for and purchasing their first home.

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