Covenant Monitoring System

CovenantPlus is an automated Machine learning powered SAAS platform that provides in-depth understanding of covenant performance, delivers early warning signals of deteriorating covenant quality and generates advanced covenant analytics. Offered as a self-service model (SAAS offering) or customised based on Enterprise needs.

Automate Monitoring of Loan Compliances

CovenantPlus is an automated Machine learning powered software application that provides in-depth understanding of covenant performance, provides advanced covenant analytics and helps team in automating complete lifecycle of covenant monitoring of a Credit Facility. It is offered both as a SAAS model or as an Enterprise solution

Check how our work flow helps to break each Loan into different Monitoring buckets for a granular monitoring.

Upgrade your Credit Risk Governance Practices

  • Developed by credit experts replicating industry best practices
  • Covenants are modeled in accordance with loan documents
  • Independent validation of covenants from financial spreads
  • Advanced dashboards to facilitate credit decisions through easy-to-use data and trend structures
  • Covenant informatics and insights such as headroom and deviation analysis for early warning of deteriorating covenant quality
  • Email alerts on covenant triggers or breaches to defined user groups

Check Why you need this

Key Features of Covenant Plus

Create Monitoring Schedule

Create future schedules like Yearly/Quartely monitoring for Financial covenants or any key Term in your Credit contracts. System will autocompute the future dates without manually entering the dates.

Monitor Category-wise

Seggregate key terms in Loan contracts into Logical groups like Post Disbursement conditions, Financial Covenants, Sponsor undertakings among others.

Automatic Notifications

Setup notification cycle as per the key dates from Loan monitoring schedule. Share notifications with Lending parties, Internal team members, Management for compliances.

Logically Test Ratios

Now logically test the Financial Ratios that are part of the contract. It provides guidance to Analysts for checking methodology for comparision or evaluation of compliances.

Playbook Template

Rigour offers an unique Playbook with list of various in-built Terms for Facility creation. Now create your own template or customise Termsheets as per your convenience.

Extract Data from Termsheet

Our AI ML model provides a convenient option to extract data from transaction Termsheet pdf documents. Now digitise your Financial terms in seconds.

In-built Clause Library

Customisable clause library covering most commonly used terms and conditions for Loan contracts. You can customise clause to the library and effortlessly use it for contract management.

Dashboard Reporting

Get summarised reporting ranging from a very granular level for each contract to an overall portfolio level performance of Contracts. Get insight on which Covenants are non-compliant and Ageing buckets for non-compliances across porfolio.

Fast and No-code SaaS based Implementation

  • If your Team still relies on elaborate spreadsheets for monitoring Loan compliances, Covenant Plus is the go-to solution.
  • We help transform Legacy setups riddled with myriads of Loan transaction documents and migrate them to Digital Records in seconds using AI ML.
  • Covenant Plus can run independently de-coupled from your existing legacy Setup
  • Or can be embedded into your Existing Loan Management Systems with minimal Integration needs

How it is Different

The Covenant Management solution from Rigour leverages Machine learning (ML) and Natural Language Processing (NLP) techniques to interpret the financial and non-financial covenants in the contract. We help convert unstructured date like Termsheets into structured information. This data is re-inforced with Credit Facility governed Terms and Conditions like Covenant Testing cycles, Reminders, Testing Criteria etc in a System governed manner.

  • Reduce Op-ex on teams & increase throughput
  • In-built early warning triggers for improved credit decisions
  • Improve covenant monitoring and compliance reporting through process efficiency
  • Reduce regulatory compliance costs & Strengthen Credit Risk Governance