Covenace

Product Description:

Covenace is an AI-driven Covenant Extraction solution that transforms how financial institutions manage loan agreements. Designed for seamless integration with leading Loan Origination Systems (LOS), this product automates the extraction of testable covenants directly from complex credit agreements, delivering structured, accurate, and actionable covenant data across the loan lifecycle. Built to empower Relationship Managers, Portfolio Managers, and Closing Specialists, the solution drives operational efficiency, enhances regulatory compliance, and accelerates deal turnaround times.

Key Features: Automated Covenant Extraction: Accurately identifies and extracts financial and non-financial covenants from unstructured loan documents. LOS Integration Ready: Native connectors and APIs for document intake and data injection into LOS platforms. Structured, Testable Output: Converts covenant language into machine-readable formats for downstream testing and monitoring. Accuracy Engineered with NLP, ML and AI: Trained on diverse legal agreement corpora for high extraction accuracy and minimal human intervention. Audit & Traceability: Full transparency into source clauses and version history for audit-readiness. Admin Console: Configurable dashboard to manage API integrations, data flows, and exception handling. Benefits by Persona: Relationship Managers (RMs): Access covenants early in the deal cycle Reduce customer follow-ups and delays Improve deal turnaround and workflow efficiency Portfolio Managers (PMs): Automate covenant testing and reduce manual reviews Increase regulatory compliance and risk oversight Simplify ongoing portfolio surveillance Closing Specialists: Save bandwidth by avoiding manual review of loan documents Reduce data entry errors with structured covenant data Accelerate covenant creation and deal closure processes