Loan management system (LMS) RFP toolkit

A Loan Management System RFP is a procurement document that asks vendors to demonstrate how their platform supports the lender's post-disbursement lifecycle: servicing, repayments, collections, accounting, audit, integrations, deployment, security, and AI-assisted servicing. The RFP also captures implementation, commercial, and risk responses.

When servicing turnaround is rising despite headcount, when launching a new loan product takes 12-18 months, when the existing LMS cannot expose data for AI-assisted servicing, when audit and compliance overheads are growing, or when integration with modern payment, KYC, and core-banking systems requires repeated SOWs.

Requirements for the work the book does after disbursement: servicing and lifecycle events, collections, payments and reconciliation, accounting and regulatory reporting. Add architecture, security, migration, AI governance and commercials. Then script scenarios that every shortlisted vendor runs on one sample book, such as a bounced mandate, a part-prepayment and a rate reset. The thirty-item RFP checklist itemises the headings.

A Loan Origination System (LOS) handles the pre-disbursement journey: application, underwriting, decisioning, and document workflow. A Loan Management System (LMS) owns the post-disbursement lifecycle: servicing, repayments, collections, restructuring, accounting, write-off, and customer servicing. Loan Management is available now. Loan Origination is on the roadmap and is not available now. No release date is published.

Yes. Lokta is a single Spring Boot deployable on Linux with PostgreSQL. It runs on-prem, in a single-tenant cloud, or inside the lender's VPC, with the same binary across all three.

Yes. Lokta uses schema-per-tenant Postgres isolation, with shared or dedicated Keycloak realm modes per tenant risk profile. Tenant context is enforced at the database connection level.

Cross-module structured audit captures every mutation with actor, action, evidence, and before / after snapshot. Maker-checker workflow gates every policy boundary. Field-level PII encryption with key versioning protects sensitive data at rest.

Lokta composes loan products from currency, repayment frequency, interest method, charges, arrears, precision, and allocation. Lifecycle states cover SUBMITTED, APPROVED, ACTIVE, CLOSED, and WRITTEN_OFF. Restructuring, moratorium, write-off, and asset classification (STANDARD / SUB_STANDARD / DOUBTFUL / LOSS) are first-class.

Integration work for KYC, credit bureau, payment, core banking, accounting, and messaging is available now and configured against the lender's systems. A named connector is claimed only after its contract, data flow, failure path, and acceptance evidence are verified.

Yes. The accounting module includes GL mapping, journal entries, accounting events, reversals, and reconciliation. Any external accounting integration is separately scoped, mapped, tested, and accepted for the named system.

The AI servicing agent answers borrower-account questions using the canonical loan model: repayment schedule, mandate status, overdue history, charges, lifecycle state. It explains exceptions and proposes actions; state-changing actions flow through maker-checker. Every prompt, response, and action is captured in the audit trail.

Agents operate inside Keycloak RBAC with tenant, OrgUnit, and role scoping. State-changing actions require maker-checker approval. Prompts, responses, accessed data, and resulting actions are captured in the cross-module structured audit using the same model as human servicing actions.

Six phases: discovery and fitment, solution design, configuration and integration, migration and validation, pilot and parallel run, production rollout, with phase-level owners and a delivery plan that includes scope, dependencies, milestones, and governance.

Three tiers, for lenders anywhere. Starter is Lokta Next 100, for lenders with assets up to about USD 10 million, or the local equivalent (₹100 crore in India) at enrolment, pure-play microfinance NBFCs excluded: a ₹0 platform fee for 24 months from go-live while assets stay at or below the cap (billing starts early only after two consecutive months above it), then 1 bps a month on average monthly assets, plus applicable taxes, with metered AI billed separately. A book past that ceiling moves to Scale-up: an implementation fee of USD 5,000 to 10,000, sized to migration depth and the number of integrations, then the same 1 bps a month on assets. The third tier, Enterprise, for a VPC deployment, several entities, custom integrations or a procurement and security review, is priced in the proposal, with payment milestones, support tiers, escalation paths and renewal terms stated there. The three tiers are on the pricing page.

Submit the RFP invitation form below or email contact@lokta.ai. Include lender type, current LMS, portfolio profile, RFP stage, target go-live, and the RFP document itself if available. Lokta returns a fitment read and a draft response template within five business days.