Private asset-backed securities don’t follow the same rules as public securitizations. The structures are more diverse. The triggers are more nuanced. The collateral is more diverse. And yet, most market participants still try to manage these instruments with tools designed for a different world entirely—or worse, with disconnected spreadsheets that multiply risk with every manual handoff. 

RiskSpan’s Private ABF platform was built specifically to solve this problem. Not as an adaptation of existing tools, but as a purpose-built data architecture designed from the ground up for the unique demands of private structured finance. The difference isn’t incremental—it’s foundational. 

Built for the Full Lifecycle 

RiskSpan’s Private ABF platform isn’t just a database—it’s a relational architecture where every entity maintains its identity and relationships across the entire deal lifecycle. The platform connects deals to their tranches, tranches to their collateral, collateral to individual loans, and all of these to the triggers, waterfalls, fees, and reserves that govern cash flow distribution. 

This matters because private ABS transactions aren’t static. Collateral performs. Triggers trip. Waterfalls redirect. Reserves build and release. A platform that can’t maintain these relationships in real time isn’t managing deals—it’s creating snapshots that are stale before they’re finished. 

Loan-Level Depth That Powers Real Analysis 

At the heart of any ABS transaction is the underlying collateral. RiskSpan’s Private ABF platform maintains comprehensive loan-level data with over 200 attributes per asset, tracking everything from origination characteristics through current performance status. This includes credit metrics like FICO scores and debt-to-income ratios, property and collateral details, payment history and delinquency tracking, modification and loss mitigation status, and ARM reset schedules and rate mechanics. 

The platform currently manages nearly half a billion loan records across active transactions. Each loan maintains its full history—not just current state, but the complete trajectory that informs forward-looking projections. When you run a cash flow model, you’re not working from aggregated pool statistics. You’re working from the actual loans, with their actual characteristics, generating projections that reflect real collateral behavior. 

Depth for Esoteric Structures 

RiskSpan’s Private ABF platform currently supports over several collateral types and structures. Each asset class has its own performance characteristics, prepayment behaviors, and loss dynamics. The platform’s architecture accommodates this diversity without forcing artificial standardization. 

But diversity in collateral is only part of the challenge. Private ABS triggers represent some of the most complex conditional logic in structured finance. Unlike standardized agency delinquency tests, private deal triggers can involve multi-step calculations with lookback periods, cure provisions that allow temporary breaches, step-rate adjustments that phase in over time, and early amortization events with distinct severity levels. 

The platform models triggers as executable logic, not static documentation. When a trigger breaches, the system knows what happens next—which waterfall priorities shift, which reserve requirements change, which reporting obligations activate. This is the deal’s immune system, and it needs to function in real time. 

Time-Series Without the Chaos 

Every entity in RiskSpan’s Private ABF platform exists in time. The platform maintains separate performance histories for tranches, collateral pools, fees, and reserves—each keyed by reporting date to enable point-in-time reconstruction of any deal state. 

This architecture solves one of the most persistent problems in private ABF operations: answering the question “what did we know, and when did we know it?” Whether for regulatory compliance, investor reporting, or internal risk management, the ability to reconstruct historical deal states isn’t a luxury—it’s a requirement that spreadsheet-based approaches simply cannot meet reliably. 

The Waterfall as Working Code 

Cash flow waterfalls in private ABF can run to dozens of steps with conditional branches, pro-rata splits, and priority reversions. RiskSpan’s Private ABF platform models these waterfalls as executable payment sequences—not flowcharts, but actual logic that routes cash from sources to destinations based on current deal state. 

Each waterfall step defines its priority in the payment sequence, its source of funds and destination, its allocation basis (pro-rata, sequential, or targeted), and the conditions under which it activates or suspends. 

When combined with the platform’s cash flow engine, these waterfall definitions become working models. You can project payments under any scenario, stress collateral performance, and see exactly how cash moves through the structure period by period. 

An Architecture Built for AI 

The same architectural principles that make RiskSpan’s Private ABF platform effective for traditional analytics make it exceptionally well-suited for artificial intelligence and machine learning applications. This isn’t a coincidence—it’s a consequence of building a data model that prioritizes structure, relationships, and semantic clarity. 

AI systems thrive on clean, well-organized data with explicit relationships. RiskSpan’s Private ABF platform delivers exactly this: normalized entities with consistent identifiers, clear hierarchies from deals down to individual loans, and temporal versioning that distinguishes current state from historical snapshots. When an AI model needs to understand a transaction, it doesn’t have to infer structure from unstructured sources—the relationships are already defined and traversable. 

The platform’s semantic richness enables natural language interfaces that actually work. Because every field has meaning within a consistent schema, AI can translate questions like “show me deals where the senior OC trigger is within 50 basis points of breach” into precise queries without ambiguity. The loan-level depth means AI models can identify patterns across hundreds of millions of records—finding correlations between origination characteristics and performance outcomes that would be invisible to traditional analysis. 

Time-series architecture is particularly critical for AI applications. Machine learning models for credit risk, prepayment prediction, and loss forecasting require historical sequences, not point-in-time snapshots. RiskSpan’s Private ABF platform maintains this temporal context natively, enabling training datasets that capture how loans and deals evolve over their lifecycles. 

RiskSpan is already deploying AI capabilities on this foundation: automated anomaly detection that flags unusual performance patterns, intelligent document extraction that populates deal records from offering documents, natural language querying that makes complex analytics accessible to non-technical users, and predictive models that leverage the full depth of loan-level history. The platform doesn’t just store data—it organizes knowledge in a form that AI can reason about. 

Designed for the Enterprise 

RiskSpan’s Private ABF platform operates as a multi-tenant platform with granular access controls. Every record carries client and user identifiers that enable sophisticated permission model—issuers see their deals, investors see their positions, servicers see their portfolios, and rating agencies see what they’re authorized to review. 

This isn’t just about security (though it is that). It’s about enabling collaboration across the structured finance ecosystem without compromising confidentiality. A single platform can serve all participants in a transaction, each with their appropriate view of the data. 

Built for What Comes Next 

Private ABS is an evolving market. New asset classes emerge. New structures get tested. New regulatory requirements arrive. RiskSpan’s Private ABF platform accommodates this evolution through flexible schema design that allows custom attributes without requiring database modifications. 

When a client brings a novel structure—say, a securitization of an asset class we haven’t seen before—the platform can ingest and model it without waiting for a software release. This extensibility is what allows a platform to stay current with market innovation rather than constantly playing catch-up. 

What This Means in Practice 

The architectural decisions in RiskSpan’s Private ABF platform translate directly to operational capabilities. For deal structuring, you can model waterfall variations and see their impact on tranche economics before going to market. For pricing, you can run scenarios against actual loan-level collateral, not simplified pool assumptions. For risk management, you can monitor trigger proximity and project breach timing under stress. For surveillance, you can track every metric that matters, with full audit trails and historical reconstruction. 

Private ABF deserves purpose-built infrastructure. RiskSpan’s Private ABF platform delivers it.