Enterprise LMS RFP Checklist
A 30-item procurement checklist for evaluating enterprise Loan Management System vendors. Print as PDF, fill in vendor responses, share with your evaluation committee.
00
How to use this checklist
Each line is a procurement requirement an enterprise lender should evaluate. Use the empty boxes to mark vendor coverage as Yes / No / Partial during your shortlisting cycle.
01
Vendor & architecture
- Vendor overview — company, founding team, lending heritage, customer references
- Product architecture — runtime, data layer, modularity, schema migrations
- Deployment and data residency — on-prem, single-tenant cloud, customer VPC
02
Identity & multi-tenancy
- Multi-tenancy model — schema-per-tenant, shared database, or per-tenant deployment
- Identity and access management — OIDC / OAuth2, RBAC, permission groups, org-unit hierarchy
03
Loan product configuration
- Loan product configuration — composable products without code changes
- Loan account lifecycle — supported states, transitions, audit on every state change
- Disbursement — full, partial, tranche, cancellation, reversal
- Repayment schedule generation — EMI, non-EMI, bullet, moratorium, custom frequencies
- Interest, fees, and charges — methods, allocation, waivers, reversals
04
Servicing & lifecycle
- Payment allocation — principal / interest / fees / penalties, excess and suspense
- Delinquency and arrears — DPD calculation, bucket movement, configurable bands
- Collections workflows — queue allocation, promises-to-pay, settlements
- Restructuring and moratorium — rescheduling, refinance, tenure or rate change
- Write-off and recovery — prudential and full write-off, recovery tracking
- Asset classification — STANDARD / SUB_STANDARD / DOUBTFUL / LOSS
- Customer servicing — statements, NOC, foreclosure quote, service requests
05
Accounting & reporting
- Accounting and GL — journal entries, accounting events, reversals
- Reconciliation — bank, payment gateway, UTR, suspense, failed transactions
- Reporting and dashboards — portfolio MIS, collections MIS, operational dashboards
06
Integrations & audit
- Integrations and APIs — KYC, credit bureau, payment gateway, core banking, accounting
- Audit trail — actor, action, evidence, before / after, retention policy
- Compliance controls — regulatory reporting, RBI Digital Lending readiness
07
Migration & implementation
- Data migration — customers, accounts, schedules, transactions, validation approach
- Implementation plan — discovery, design, configuration, migration, pilot, production
- Support and SLA — uptime, response time, escalation, hypercare, BAU
08
AI & governance
- AI loan servicing agent — context awareness, action surface, audit
- AI governance and human oversight — maker-checker on AI-suggested actions
09
Commercials & risk
- Pricing and commercials — licensing model, payment milestones, renewal
- Risks and dependencies — vendor-side, integration-side, regulatory-side