XBI Software Inc. creates STR (straight through reporting) applications for banks and other financial institutions using XBRL, the standard for business reporting. There are no such products on the market today. Its lead product, CovenantWise, under development, helps the banks solve one of their key problems, credit risk management for their borrowing customers.

CovenantWise extracts information directly from the books of the borrowing customer. It verifies if the borrower has met his covenants as listed in the banking agreement and lets the borrower know if this information indicates a problem. CovenantWise provides the borrower an opportunity to add a plan of corrective action to submit with the report. The report is then submitted to the bank electronically, quickly, securely and inexpensively. The bank then will have accurate information which it receives quickly ready to use in its analysis programs. CovenantWise will streamline the relationships between the banks and the millions of clients they serve world-wide, resulting in increased profits to all parties.

XBI Software Inc. is working on a pipeline of innovative products for the financial community based on the XBRL standard.