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Scale Middle-Market Lending with AI-Powered Covenant Analytics

Client

CovenantIQ is a fintech company specializing in private credit technology, covenant analytics, AI-powered risk detection, and loan portfolio monitoring for private credit and middle-market lenders.

The platform automates financial statement analysis, covenant calculations, reporting workflows, and borrower monitoring, helping lenders reduce manual work, improve covenant visibility, and detect risk earlier.

ASSIST Software supports the development and operation of CovenantIQ’s Connected Cashflows platform, contributing across backend architecture, AI/ETL pipelines, borrower and lender portals, cloud infrastructure, DevOps, security, and long-term platform maintenance services.

Industry

Fintech

Services

Cloud & DevOps
Generative AI
MLOps
Security Engineering
Software Development Services

Country

USAUS Flag

Company size

Startup

The Challenge

Private credit lenders often rely on manual workflows to collect borrower financial data, review financial statements, calculate covenants, and monitor portfolio risk. As loan portfolios grow, spreadsheet-based monitoring becomes slower, harder to scale, and more exposed to reporting delays or missed warning signs.

Reducing manual loan monitoring and spreadsheet-based review workflows.

Normalizing borrower financial data from multiple accounting systems.

Detecting covenant breaches and early credit risk across loan portfolios.

The Solution

ASSIST Software contributes to CovenantIQ’s Connected Cashflows platform, a secure cloud-native fintech solution for borrower monitoring, covenant reporting, and AI-powered financial data analysis.

The platform brings together portals, AI/ETL pipelines, covenant workflows, AWS infrastructure, and DevOps automation to support efficient portfolio risk monitoring.
Its SOC 2 Type II certification reflects the platform’s strong operational and security standards for cloud-based financial data.

AI/ETL pipelines process borrower financial data from ERP and banking systems, summarize financial statements, and extract covenant-relevant information for analyst review. The system keeps financial data structured, traceable, and easier to evaluate.

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Success Highlights

CovenantIQ helps private credit lenders improve portfolio monitoring efficiency, reduce manual loan monitoring costs, and strengthen visibility into borrower financial data and covenant compliance across lending operations.

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7x Analyst Efficiency Improvement

According to CovenantIQ’s published metrics, the platform supports up to 7x higher analyst efficiency through automated data ingestion, summarization, and covenant monitoring.

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Consolidated Financial and Covenant Visibility

Roadnight Capital highlighted the value of having financial data, covenant information, and borrower monitoring workflows consolidated in a single interface.

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~90% Reduction in Loan Monitoring Costs

CovenantIQ reports up to 90% reduction in loan monitoring costs by replacing manual spreadsheet-based workflows with automated financial data processing and covenant reporting.

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SOC 2 Type II Certification

CovenantIQ achieved SOC 2 Type II certification through Prescient Assurance, reflecting the platform’s strong operational and security standards for cloud-based financial data.

Empowering innovation through cutting-edge technologies

We leverage advanced technologies to develop robust and efficient mobile and web applications, ensuring top-tier performance and cross-platform compatibility.

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Platform Expansion

As CovenantIQ’s Connected Cashflows platform evolved, ASSIST Software contributed to the development of new modules designed to automate covenant reporting, streamline borrower workflows, and strengthen AI-powered financial analysis for private credit lenders.

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Covenant Reporting Engine

The platform supports lender-defined reporting schedules, borrower submissions, attestation periods, breach alerts, and audit trails through secure cloud-native infrastructure.

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AI Job Manager

The AI layer processes borrower financial data asynchronously, using LangChain and OpenAI to summarize financial statements while keeping the core platform services decoupled.

AI-Powered Covenant Analytics

CovenantIQ uses AI-powered data pipelines to process borrower financial data, extract covenant-relevant information, and support faster monitoring for private credit lenders.

By connecting financial statements, ERP data, banking data, and borrower submissions, the platform helps analysts reduce manual work, maintain traceability, and detect risk earlier across loan portfolios.

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Inputs

Financial statements, ERP data, bank data, borrower submissions, covenant definitions.

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AI Actions

Summarization, extraction, normalization, covenant-relevant data mapping.

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Learning Method

LLM-assisted analysis with rule-based covenant and cash-flow calculations.

Scalable, secure and streamlined solutions for your business success

For business inquiries:

+40-230-521100

icon main logohello@assist.ro

Our address:

1 Tipografiei Street 720043, Suceava, Romania

Frequently Asked Questions

1. Can you integrate AI into an existing software product?

Absolutely. Our team can assess your current system and recommend how artificial intelligence features, such as automation, recommendation engines, or predictive analytics, can be integrated effectively. Whether it's enhancing user experience or streamlining operations, we ensure AI is added where it delivers real value without disrupting your core functionality.

2. What types of AI projects has ASSIST Software delivered?

We’ve developed AI solutions across industries, from natural language processing in customer support platforms to computer vision in manufacturing and agriculture. Our expertise spans recommendation systems, intelligent automation, predictive analytics, and custom machine learning models tailored to specific business needs.

3. What is ASSIST Software's development process?  

The Software Development Life Cycle (SDLC) we employ defines the stages for a software project. Our SDLC phases include planning, requirement gathering, product design, development, testing, deployment, and maintenance.

4. What software development methodology does ASSIST Software use?  

ASSIST Software primarily leverages Agile principles for flexibility and adaptability. This means we break down projects into smaller, manageable sprints, allowing continuous feedback and iteration throughout the development cycle. We also incorporate elements from other methodologies to increase efficiency as needed. For example, we use Scrum for project roles and collaboration, and Kanban boards to see workflow and manage tasks. As per the Waterfall approach, we emphasize precise planning and documentation during the initial stages.

5. I'm considering a custom application. Should I focus on a desktop, mobile or web app?  

We can offer software consultancy services to determine the type of software you need based on your specific requirements. Please explore what type of app development would suit your custom build product.   

  • A web application runs on a web browser and is accessible from any device with an internet connection. (e.g., online store, social media platform)   
  • Mobile app developers design applications mainly for smartphones and tablets, such as games and productivity tools. However, they can be extended to other devices, such as smartwatches.    
  • Desktop applications are installed directly on a computer (e.g., photo editing software, word processors).   
  • Enterprise software manages complex business functions within an organization (e.g., Customer Relationship Management (CRM), Enterprise Resource Planning (ERP)).

6. My software product is complex. Are you familiar with the Scaled Agile methodology?

We have been in the software engineering industry for 30 years. During this time, we have worked on bespoke software that needed creative thinking, innovation, and customized solutions. 

Scaled Agile refers to frameworks and practices that help large organizations adopt Agile methodologies. Traditional Agile is designed for small, self-organizing teams. Scaled Agile addresses the challenges of implementing Agile across multiple teams working on complex projects.  

SAFe provides a structured approach for aligning teams, coordinating work, and delivering value at scale. It focuses on collaboration, communication, and continuous delivery for optimal custom software development services. 

7. How do I choose the best collaboration model with ASSIST Software?  

We offer flexible models. Think about your project and see which model would be right for you.   

  • Dedicated Team: Ideal for complex, long-term projects requiring high continuity and collaboration.   
  • Team Augmentation: Perfect for short-term projects or existing teams needing additional expertise.   
  • Project-Based Model: Best for well-defined projects with clear deliverables and a fixed budget.   

Contact us to discuss the advantages and disadvantages of each model. 

ASSIST Software Team Members