Coviance
Coviance is a cloud-based lending automation platform purpose-built for home equity and HELOC lending, serving credit unions and community banks with workflow automation, LOS integrations, and compliance tools to compete against non-bank lenders.
- Company typePrivate
- Founded2015
- HeadquartersWest Des Moines, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Coviance does
Coviance is a West Des Moines, Iowa-based fintech founded in 2015 (originally as LenderClose, rebranded in January 2023) that provides a cloud-based lending automation platform purpose-built for home equity loans and HELOCs at credit unions and community banks. The company targets a specific gap left by mortgage-centric LOS systems, helping community financial institutions compress home equity loan cycles from 40-60 days to under a week using its proprietary Collateral Decision Engine, white-label Online Application, Borrower Collaboration Portal, HMDA compliance automation, and no-code connectors into MeridianLink, Encompass, and Sync1 Systems. Its flagship Fast Track solution bundles three modules — Borrower Engage, Lender Intelligence, and Quick Close — into a unified workflow from application to funded loan, with reported customer outcomes including 20% loan pull-through improvement, 10% decrease in application drop-off, 36% productivity increase, and a 5.21x average ROI per a 2022 MarketWise Advisors study.
Coviance sells exclusively to financial institutions on an enterprise subscription basis via direct field sales supplemented by LOS channel partners. Pricing is not publicly disclosed; access requires separate written agreements, and a recent SEC Form D offering lists a $1 million minimum investment, consistent with enterprise contract sizes. The platform serves 415+ community lenders and has processed $19 billion+ since 2021, with named customers spanning credit unions (All In, Bay First, Farmers Insurance FCU, Kings FCU, DuPage, WyHy, iQ, Alltru, Champions First) and community/regional banks (Hancock Whitney, Central Bank, People's Bank). The company is SOC 2 Type II certified, has been named to the Inc. 5000 four consecutive years (2022-2025), and is led by founder/CEO Omar Jordan, COO Ben Rempe, and CTO Martina Schubert, with a board that includes credit-union industry representation. Capital to date includes approximately $20-23M across Series A (2018), Series B (2021), and subsequent exempt offerings, with a $6M Form D filed in November 2025.
The business model is enterprise SaaS with likely per-loan transaction economics layered on top, distributed through direct enterprise sales plus channel partnerships with dominant LOS vendors (MeridianLink, ICE Mortgage Technology/Encompass, Sync1 Systems). Customer concentration appears moderate given the 415+ lender base and named logo diversity, though most disclosed customers are mid-sized credit unions rather than large national banks — Coviance's positioning is explicitly aimed at helping community lenders compete against non-bank fintech entrants.
Coviance firmographics
Firmographics- Name
- Coviance
- Legal name
- Coviance, Inc.
- Website
- https://coviance.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Coviance is a cloud-based lending automation platform purpose-built for home equity and HELOC lending, serving credit unions and community banks with workflow automation, LOS integrations, and compliance tools to compete against non-bank lenders.
- Ownership category
- akta.pro rank
Coviance industry classification
Industry- Product category
- Lending Automation Software
- NAICS
- Computer Systems Design Services (541512)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Home Equity Loan/HELOC Underwriting & Credit Policy (FSALAGAC)
- akta.pro secondary industries
- Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH), Home Equity Loan & HELOC Intermediation (FSAEAEAD)
Keywords
Where Coviance is headquartered
LocationHeadquarters
- HQ city
- West Des Moines
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Coviance business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Operations
Revenue model
- Software Platform/SaaS Subscription: Coviance provides a cloud-based lending automation platform to financial institutions. Access to technology platforms and services requires separate written agreements. The platform automates home equity lending workflows from application to close.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise B2B SaaS for financial institutions |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels7 records
Coviance product offering
Product offeringCore offering
Coviance sells a cloud-based lending experience platform purpose-built for home equity and HELOC lending by credit unions and community banks. Its flagship Fast Track solution combines Borrower Engage, Lender Intelligence, and Quick Close applications — powered by a proprietary Collateral Decision Engine — to automate workflows from online application to funding, enabling approvals in hours and funding in days. The platform integrates with major Loan Origination Systems including MeridianLink, Encompass, and Sync1 Systems via pre-built connectors.
Product overview
Coviance is a lending experience platform built specifically for home equity and HELOC lending. The platform operates as a unified platform-plus-modules architecture with Fast Track as the primary solution and Home Equity Express (HEx) as the underlying product powering it. Fast Track comprises three integrated applications: Borrower Engage (streamlined application and borrower collaboration), Lender Intelligence (decision guidance engine for loan approvals), and Quick Close (final stage lending cycle tools). Supporting modules include the Online Application (white-label, mobile-friendly loan applications), Compliance & Operations Experience (HMDA automation and regulatory compliance), and Coviance Connectors (pre-built LOS integrations with MeridianLink, Encompass, and Sync1 Systems). The platform is powered by the proprietary Collateral Decision Engine that intelligently automates workflows based on application data, property data, and loan purpose. Supporting services include Service & Support with customized onboarding and ongoing relationship management. The company also publishes research insights including the annual Home Equity Positioning Report.
Differentiator
Problem solved
Functional benefit
Products and services
- Fast Track A purpose-built home equity lending solution that delivers funds to borrowers in under a week, giving community lenders the speed and borrower experience to close more loans and compete with non-bank lenders.
- Home Equity Express (HEx) Automates home equity lending processes from start to finish with clear-to-close in days, impressing borrowers and enabling scaled home equity volume through intelligent automation.
- Coviance Online Application White-label, mobile-friendly online application that delivers home valuation, available equity, pre-approval decisions, and tailored loan options in minutes, with AVM data integration and soft credit checks.
- Compliance & Operations Experience Centralizes compliance controls and streamlines change management for home equity lending operations, including automated HMDA reporting that reflects current CFPB requirements.
- Coviance Connectors Pre-built, no-code integrations with MeridianLink Mortgage, MeridianLink Consumer, Encompass by ICE Mortgage Technology, and Sync1 Systems enabling bidirectional data sync and automated workflow orchestration.
- Service & Support Customer success and support services including customized onboarding, dedicated relationship managers, and hands-on support during and after implementation, with 95% positive support reviews and 99% customer satisfaction.
Quantifiable outcome
- 20% improvement in loan pull-through
- +6 more outcomes
Companies that use Coviance
Customer profileNamed customers19 records
Segments3 records
Ideal customer profiles2 records
Coviance technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability9 records
Feature6 records
Coviance partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- Space Coast Credit UnionminorSpace Coast Credit Union partnered with Coviance to enhance the home equity lending experience for their members.
- Encompass (ICE Mortgage Technology)coreIntegration connector expanding home equity lending capabilities within ICE Mortgage's Encompass LOS. Includes adaptive workflows, intelligent collateral decisioning, and real-time borrower communication.
- MeridianLinkcorePre-built, no-code connector integrating Coviance's home equity lending platform with MeridianLink Mortgage and MeridianLink Consumer loan origination systems. Enables bidirectional data sync, automated workflow documentation, and unified billing.
Scale indicators11 records
Recent moves9 records
Expansion highlights6 records
Coviance competitors and assessment
Company assessmentBroad incumbents
- nCino: nCino provides a cloud banking platform including loan origination for credit unions and community banks. While broader than HELOC, it competes for the same technology modernization budget and includes consumer lending workflows.
- Blend: Blend is a broader consumer lending platform covering mortgage, home equity, auto, and deposit products for banks and credit unions. It overlaps with Coviance in HELOC origination but operates at a much larger scale and product breadth.
- ICE Mortgage Technology (Encompass): ICE Mortgage Technology is the parent of the Encompass LOS, Coviance's largest integration partner and a key distribution channel. It also competes indirectly by potentially extending Encompass into HELOC automation natively.
- MeridianLink: MeridianLink provides loan origination and digital account opening platforms for credit unions and community banks. It is both a Coviance channel partner (Mortgage and Consumer) and a broader platform competitor in lending workflows.
Direct peers
- Figure Technologies: Figure is a HELOC-focused fintech that originates and services home equity products on a digital-first platform. It directly competes with Coviance for the home equity lending dollar and targets similar speed-to-fund metrics.
- HES (Home Equity Solutions): HES provides home equity lending technology and outsourced services to credit unions and community banks, overlapping directly with Coviance's HELOC automation and underwriting value proposition.
- Maxwell: Maxwell is a mortgage and home equity technology platform serving credit unions and community banks with point-of-sale, workflow, and digital closing tools — a close functional analogue to Coviance's purpose-built HELOC stack.
- Roostify: Roostify offers digital lending and point-of-sale technology for mortgage and home equity originations, used by banks and credit unions. It competes for the same workflow automation budget Coviance targets.
- Mortgage Cadence (Accenture): Mortgage Cadence provides enterprise mortgage and home equity origination platforms for lenders. It overlaps with Coviance on HELOC origination automation and competes for larger credit union and community bank deals.
- Tavant: Tavant provides digital lending and mortgage technology solutions to banks and credit unions, including home equity workflows. It competes for similar automation engagements with comparable buyer profiles.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Coviance social profiles
Digital presenceCoviance compliance and trust
Trust signalCompliance1 record
Coviance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Coviance leadership team
Management profileNumber of profiles
Profiles12 records
Coviance funding detail
Funding detailFunding overview
Funding rounds6 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Coviance M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Coviance
What does Coviance do?
Coviance sells a cloud-based lending experience platform purpose-built for home equity and HELOC lending by credit unions and community banks. Its flagship Fast Track solution combines Borrower Engage, Lender Intelligence, and Quick Close applications — powered by a proprietary Collateral Decision Engine — to automate workflows from online application to funding, enabling approvals in hours and funding in days. The platform integrates with major Loan Origination Systems including MeridianLink, Encompass, and Sync1 Systems via pre-built connectors.
Is Coviance a public or private company?
Coviance is a private company. It is classified as venture growth investor backed and is currently operating.
When was Coviance founded?
Coviance was founded in 2015. It employs 51 to 100 people.
Where is Coviance based?
Coviance is headquartered in West Des Moines, United States, in the North America region.
How does Coviance make money?
One revenue line is on record: software Platform/SaaS Subscription.
Who are Coviance's main competitors?
Broad incumbents on record are nCino, Blend, ICE Mortgage Technology (Encompass) and MeridianLink. Direct peers are Figure Technologies, HES (Home Equity Solutions), Maxwell, Roostify, Mortgage Cadence (Accenture) and Tavant.
Does Coviance have an API?
No public API is recorded for Coviance.
What industry is Coviance in?
Coviance's product category is Lending Automation Software. Its primary akta.pro industry code is FSALAGAC, Home Equity Loan/HELOC Underwriting & Credit Policy, with a secondary code of FSAGAHAH, Loan Servicing Platforms (Billing, Statements, Customer Self-Service). Its NAICS code is 541512 and its SIC code is 7372.