SaaS for account and credit management
Manage loans and accounts – precise, simple, in the browser.
Covee M2 is loan accounting and account management software built for small and medium-sized enterprises: contracts, repayment schedules, payments and reminders in one place, ready to use in the browser.
Loan #1042
Loan
Outstanding
€6,420.00
Next instalment
€450.00
Interest rate
3,5 %
57 % repaid
| Due | Instalment | Status |
|---|---|---|
| 01.08. | €450.00 | paid |
| 01.09. | €450.00 | paid |
| 01.10. | €450.00 | paid |
| 01.11. | €450.00 | open |
- Since 2017founded in Berlin
- For SMEsbuilt for mid-sized companies
- SaaSready to use in the browser
- Pilot phaseearly access for first customers
From spreadsheet to loan ledger.
Interest by hand
Repayment schedules, day counts and early repayments are recalculated in spreadsheets – error-prone and hard to audit.
Hunting for payments
Which instalments are paid, which are open? Bank statements are matched against open instalments line by line.
Bank software is oversized
Core banking systems are tailored to banks: extensive, costly and demanding to introduce.
Product
Everything a loan book needs.
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Loan accounting
Loan contracts with interest rate, term and repayment type; M2 calculates schedules, interest and balances to the day.
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Account management
Customer, loan and deposit accounts with postings, balances and statements for every person and company.
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Payment matching
Import bank transactions and match them to open instalments automatically; M2 presents unclear items to you for review.
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Documents and dunning
Contracts, payment plans, statements and reminders are generated as PDF, in your own design.
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Reporting and export
Portfolio, due dates and arrears at a glance; exports for accounting and tax advisers.
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Roles and audit trail
Permissions per role and a complete history of every change – so auditors and management see the same numbers.
Use cases
For companies that grant loans and keep accounts.
Mortgage loans
Manage mortgage loans with fixed-rate periods, repayment schedules and early repayments, and charge interest precisely.
Instalment plans for customers
Manage instalment and financing offers in your own business, from the instalment to the reminder.
Personal loans and leasing
Manage instalment loans and leasing contracts with instalments, terms and residual values, from contract to final settlement.
Customer and credit accounts
Keep balances, deposits and open items per customer, with statements at the push of a button.
How it works
From spreadsheet to overview in three steps.
Set up contracts
Import existing loans and accounts or create new ones; M2 generates the repayment schedules.
Connect payments
Read in your bank statements; incoming payments are matched to instalments.
Analyse and steer
See due dates, arrears and reports, send reminders, export data.
About
Covee Financial Data Science.
We bring together our experience in the financial industry, financial econometrics, statistics and software engineering in a product of our own: software for loan accounting and account management with digital application journeys, digital dunning and comprehensive reporting.
Lars Jochen Krause, PhD
Managing Director
Sven Christian Steude, PhD
Managing Director
FAQ
Frequently asked questions
What role does M2 play?
M2 is software for your loan accounting and account management. Lending and payments remain with you and your bank.
Who is M2 for?
For credit intermediaries, brokers and SMEs that grant or broker credit, offer leasing or keep accounts for their customers.
How is M2 used?
M2 runs as SaaS in the browser; a user account is all it takes.
What does M2 cost?
M2 is offered as a monthly subscription. We will publish prices at the end of the pilot phase; pilot customers receive special terms.
When can I use M2?
M2 is in development. We are working with first pilot customers; write to us if you would like to join them.
Become a pilot customer.
Tell us which loans or accounts you manage. We will get back to you personally.