No. It runs beside them for the lending workflow, or serves as the lending core. Your deposits, payments and general ledger stay on your core.
Asia · Core banking coexistence
An AI lending system that runs beside the core banking system you already have
Keep your core as the ledger and add the lending workflow and AI on top, or adopt Covenant Desk as the lending core. Either way the connection is written down before anything moves.
In brief
The first question is which system owns the loan ledger
Most banks in Asia already run a core banking system, for example Infosys Finacle, Temenos Transact (T24), Oracle FLEXCUBE, Finastra or SIBS. When a bank adds a new lending system, the project is decided by one question: which system owns the loan ledger, and which system only prepares the loan?
Covenant Desk supports both answers. It can sit beside your core, handling intake, documents, spreading, credit memo and approval, and hand the approved facility to the core for booking. Or it can be the lending core, because it includes its own core banking engine for lending. The connection to your core is specified with your IT team and built for your core's interfaces, APIs or file exchange, rather than assumed.
Asia
Three ways to run it, and when each fits
- 01
Your core stays the ledger
Covenant Desk prepares and approves the loan. The approved facility goes to your core for booking and the core keeps the account, ledger and postings. Fits when the core is staying and the gap is in origination, credit work and monitoring.
- 02
Covenant Desk is the lending core
Loan accounts, ledger and postings, interest and fees, repayment and collections and disbursement run in Covenant Desk, and the results go to your general ledger by file or API. Fits when the lending part of the core is being replaced or a new product line has no home.
- 03
Both, one product at a time
One workflow goes live first. Your existing system and Covenant Desk run side by side while portfolios move across by product, so nothing has to cut over in a single step.
- 04
Customer identity
Borrowers are matched to the customer number your core already uses, so the same person is one record in both systems.
- 05
Who is authoritative for each field
The source mapping records which system holds which field, which one wins when two disagree, and how borrowers are identified across companies.
- 06
What does not change
Deposits, payments and your general ledger stay where they are. Covenant Desk covers lending.
Covenant Desk
How the connection works
All of this is available, built to your operation and delivered as part of the implementation.
- 01
Booking hand-off
The approved facility leaves Covenant Desk as a structured booking instruction, by API or file, in the layout your core accepts. The booked account number comes back and is stored on the case.
- 02
Read-back from the core
Borrower, loan, overdue and upcoming notice context come in from your core and lending systems by scheduled and manual sync, APIs and file exchange, so monitoring and the AI banking agent see the live position.
- 03
Source mapping before anything moves
The mapping records which system holds which field, which fields are authoritative, how borrowers are identified across companies and what happens when two sources disagree. It is written down and agreed.
- 04
Run history on every connection
Each connection reports its own run history, so a sync that stopped three days ago is visible rather than silent.
- 05
Phased migration
Your existing system and Covenant Desk run side by side. Implementation starts with one workflow and widens only after a pilot with real records and real staff.
- 06
A store you own
Records brought in from your core, a loan system, a spreadsheet or a mailbox sit in a store you own. If a source system is switched off, the borrower records remain.
Evaluation
Questions to put to any lending vendor that has to sit beside your core
- 01
Who owns the loan ledger?
Ask for the answer per product, and what happens to the other system's balance.
- 02
Which interfaces does the connection use?
APIs, file exchange or both, and who builds and maintains each side.
- 03
What is in the booking message?
Customer, facility, terms, security, schedule, and what comes back: the booked account number and any rejection reason.
- 04
How do you see a failed sync?
Each connection should report its own run history, so a sync that stopped three days ago is visible.
- 05
What happens when two systems disagree?
The rule should be written down before go-live, not decided during an incident.
- 06
How is the cut-over reversed?
Ask how a product can go back to the old process if a test fails.
FAQ
Questions banks and lenders ask
The connection is specified with your IT team and built to your core's APIs or file exchange as part of the implementation, and tested on your data before go-live.
Not to start. With your core as the ledger, existing loans stay where they are and Covenant Desk reads balances and arrears from the core. Moving a portfolio is a later, phased step.
Yes. It includes a core banking engine for lending: loan accounts, ledger and postings, interest and fees, repayment and collections, and disbursement.
AI prepares the decision and your credit officers approve it, with four-eyes control, approval matrices and a full audit trail.
Related
More for banks and lenders in Asia
- Loan origination system for banks and lenders in Asia
- Loan management system for banks and lenders in Asia
- The AI lending system for banks across Asia
- Custom lending software, built around your process and integrated with your systems
- Deployment, data residency and AI governance, answered before your vendor review asks
- AI lending agents for banks, by role, with credit officers approving every decision
- AI lending system across Asia
- Loan origination system, Hong Kong
- Loan management system, Hong Kong
See it on one of your own loans.
We set up a personalised demo around your own products and workflows, then your team tries it before you decide.
Book a personalised demo