Meet Neo, your AI-powered Co-GP.
If you know Covercy, you have probably seen both names by now: Covercy GP and Covercy One. It is the question we hear most often from the GPs we talk to. Are they the same thing? A new tier? A rebrand? Here is a straight answer.
The short answer
Covercy One is the next generation of our platform. Covercy GP is the product many firms run today. Covercy One is a new product, built from the ground up to take its place. They are technically two different products on two different foundations, and over time we will migrate existing Covercy GP customers onto Covercy One.
So if you are evaluating Covercy today, Covercy One is the product to look at. And if you already run on Covercy GP, nothing disappears overnight. You keep everything you rely on now, and we will move you to the new platform when the time is right.
Why we built a new product instead of adding features
We were the first platform to bring banking and investment management together and fully automate payments. We serve hundreds of investment firms and tens of thousands of investors, processing billions of dollars every year. We were not struggling, which is exactly what made the next decision hard.
We could have layered AI onto the existing platform, a chatbot here, an auto-generated report there, and called it innovation. But AI is not a feature you bolt on. To be genuinely useful inside an investment management platform, AI has to reason across every investor record, transaction, communication, and document in real time. That only works on a unified data model, not a stack of disconnected modules. So we built a new product designed for it from day one.
The wider industry is moving the same way. In a recent PwC survey, half of private equity respondents said generative and agentic AI will have the most transformative impact on their industry over the next three years, and the SEC's Division of Investment Management has challenged firms to move beyond digitizing paper toward AI that lets investors interact with fund information in plain language. A new foundation is what makes that possible.
