Risk modeling answers what could happen. Decision governance answers whether what you already approved still holds.
Timvero treats the credit agreement as a first-class data object with covenants authored as policies-as-code. That alone distinguishes it from every generic monitoring platform. What Timvero is not designed to do is connect its risk modeling back to the original credit committee approval and evaluate whether the basis still holds.
What Timvero does well, and where the line is.
What Timvero is built for
Credit portfolio management, covenant modeling, and breach probability.
Timvero models sponsors, borrowers, co-lenders, funds, SPVs, facilities, and tranches as first-class objects. Covenants authored as policies-as-code. AI scores sponsor and borrower risk, predicts covenant breach probability, and models cash versus PIK coverage under multiple scenarios. Closer to what credit teams actually need than any generic monitoring tool.
What it is not built for
Evaluating whether the original credit committee approval still holds.
Risk modeling answers 'what could happen?' Decision governance answers 'does the decision we already made still hold — and if not, what must we do about it?' Timvero surfaces breach probability; it does not bind that probability back to the specific assumptions the credit committee approved, or surface the required action when the approval basis erodes.
Where Capital Refinery sits next to it
The decision layer above the risk modeling layer.
Capital Refinery holds the original credit committee approval — the underwriting thesis, the specific assumptions that justified commitment, the identified mitigants — as a live structured object. Live borrower data is bound back to those assumptions, not just to abstract covenant thresholds. Timvero tells you the breach probability. Capital Refinery tells you whether the committee's approval basis is still intact — and the specific action required to restore it.
Where the lines fall.
| Capability | Timvero | Capital Refinery |
|---|---|---|
| Covenants as policies-as-code | Strong — a genuine differentiator | Same approach — credit agreement parsed as structured data |
| Sponsor + borrower risk scoring | Strong — core capability | Consumes signals; not the primary surface |
| Covenant breach probability modeling | Strong | Yes — plus time-to-breach and required action |
| Cash vs PIK scenario modeling | Strong | Yes — scenarios bound to decision validity |
| Original credit committee approval as live object | No | Yes — the thesis and assumptions that justified commitment |
| Decision validity vs risk probability | Risk probability | Decision validity — is the approved basis still intact? |
The research behind this.
- Private Credit Just Got Its First Real Stress TestTimvero is the most architecturally thoughtful credit platform in the market — and the distinction between risk modeling and decision governance.
- The Decision Integrity CategoryWhy no incumbent — including Timvero — currently occupies the decision validity layer.
- The Decision Integrity Gap48 sources, 14 vendors. Timvero, the rest of the credit stack, and the missing 7th.
Institutional readiness measurement
Timvero solves credit risk modeling and decisioning for institutional lenders. Capital Refinery operates a category Timvero doesn’t: institutional readiness measurement on the borrower’s operating business — graded against the same 10-axis framework that buy-side ICs, lender credit committees, and LPs use to evaluate. The artifact carries a deterministic fingerprint and a public verification URL.
The two product surfaces don’t compete — they operate at different layers of the stack. Timvero handles risk modeling and decisioning; Capital Refinery handles structural readiness measurement on the borrower and decision integrity through the credit lifecycle. See for lenders and the same-engine architecture for the dimension Timvero doesn’t address.
From risk probability to decision validity.
If your credit team already runs Timvero for risk modeling, the next question is whether each approved position's basis still holds. Bring us five positions — we'll show you on real data.
Keep Timvero if you need policies-as-code covenant monitoring on credit portfolios. Use Capital Refinery when you need a neutral, evidence-backed readiness artifact that shows what will survive institutional review.
Capital Refinery is the institutional measurement layer. It does not replace Timvero; it sits next to it. The decision to engage is a routing decision, not a swap.
Working with an advisor or AI consultant? Use CR as the independent measurement layer via the Modernization Impact Review. Want to shape the methodology? Apply as a design partner.