Validis and Covecta announce partnership to streamline credit workflows for banks, specialist lenders and building societies
Integration aligns Validis’ secure, standardized accounting/ERP data with Covecta’s agentic-AI workflows to support origination, underwriting and ongoing monitoring.
The partnership addresses a critical challenge facing banks and non-bank lenders: reducing time to decision whilst maintaining audit trails and compliance standards.
The partnership enables lenders to automatically acquire standardized financial data from clients’ ERPs and accounting packages, feeding it directly into Covecta’s Agents to accelerate credit decisions, reduce manual work, and improve portfolio oversight.
What the partnership enables
Faster time to decision: Rather than waiting weeks for SMEs to email accountants and obtain reconciled accounts, financial institutions can request open accounting API authorization through Validis, with data flowing back within minutes. Covecta’s agents then orchestrate tasks such as ratio calculations, covenant testing, and trend analysis. The partnership brings efficiency to the weeks of back-and-forth between credit and coverage teams in getting data, addressing errors, asking for clarifications, standardizing financial metrics, and inputting it into downstream applications.
Clean, standardized inputs for AI workflows: Pre-mapped, standardized ledger data from Validis feeds Covecta’s agentic workflows to compress underwriting, QA, and reviews. Structured financials combined with agent “thinking & referencing” improve audit trails and consistency in credit files.
Scale, agility & cost efficiency: Deploy targeted agents for new products/segments without multi-year change programs. Decrease cost to serve in business and commercial lending using market-leading automation, whilst maintaining the quality and explainability that regulated lenders require.
Coverage across the credit lifecycle: The partnership addresses origination, underwriting, covenant checks and portfolio reviews. Today underwriters spend too much time chasing and aggregating information from borrowers. This is especially true for cases removed from automated decisioning processes. This is where Covecta’s agents pick up what would have been manual work. Covecta’s will autonomously call a number of 3rd party APIs, including Validis, aggregating information for underwriters to make seamless decisions. Turning them into reviewers instead of doers.
Security and compliance foundations: Validis is ISO 27001 and SOC 2 Type 2 compliant and hosts on Microsoft Azure. Covecta is ISO 27001 certified and is hosted on AWS
Technical integration
The integration works as follows:
- Users initiate one of Covecta’s agents on the platform
- The agent sends an API request to Validis
- Validis kicks off a request to the SME for open accounting authorization (via Xero, Sage, QuickBooks, etc.)
- Once approved, data flows back through Validis
- Covecta’s agents retrieve and process the data for ratio calculations, covenant testing, trend analysis, or other scheduled/initiated tasks
- All information is stored in Covecta’s knowledge base for natural language processing
Illustrative use cases
Underwriting support: Auto-populate credit applications and lender templates with standardized data ready for underwriter review. Draft memos from standardized GL/AR/AP data, eliminating weeks of back-and-forth with accountants.
Covenant monitoring: Use agents to compare borrower performance metrics from management accounts against agreed covenants on a scheduled basis, with agents flagging exceptions for analyst action.
Cross-sell opportunities: Parse borrower financial information to identify opportunities to increase share of client wallet through selling additional loan, hedging, and banking products.
Ongoing reviews and QA: Produce consistent, auditable outputs by combining structured financials with agent-driven processes.
“By bringing bank-grade, standardized accounting data together with agentic workflows, we can help UK lenders run faster, more consistent credit processes—without compromising rigor. The partnership with Covecta directly addresses the data bottleneck that slows down credit decisions and enables lenders to focus on what matters: making better lending decisions faster.” – Michael Turner, CEO, Validis
“Great AI needs great data. With Validis providing trusted financial and accounting data, our agents orchestrate underwriting and monitoring with the transparency lenders expect – typically delivering about a 70% uplift in productivity.” – Scott Wilson, Founder & CEO, Covecta
About Validis
Validis connects directly to borrowers’ accounting platforms and delivers standardized financial data for lenders and accountants. Use cases include commercial lending, where lenders seek up-to-date, granular data during application, underwriting and review. Validis is ISO 27001 and SOC 2 Type 2 compliant.
About Covecta
Covecta is a London-based agentic platform serving financial services. The company builds AI agents and search over enterprise data to automate workflows across lending and banking teams. Over recent months, Covecta secured $6.5m in seed funding from Salesforce Ventures, has seen their customer base and team double
