What lenders said when they saw Lokta
If you are weighing a loan system, the most useful thing we can show you is what other lenders said when they saw this one. These are their lines from our calls, kept to the words they used. Names and company names are left out; the role, the kind of lender and the month stay.
A line in square brackets replaces a name or completes a word. Three dots mark a cut.
Every line, in full.
On why Lokta starts after sanction
“The post-sanction area is the one which still today remains a grey area.”
“The post-sanction area is the one which still today remains a grey area. Everyone has different versions of what they do in post sanction; there's no standardisation... So I fully agree with the thesis of why you guys went after the post-sanction journey. And coming from a team which is as experienced as yours, [it] makes sense.”
After the portfolio dashboards
“This kind of concise and clear dashboard I never saw.”
“I was part of [a bank] and then a small finance bank, so I went through the dashboards. But this kind of concise and clear dashboard I never saw.”
On hearing the rate, ₹1,000 per crore of book a month
“It's a reasonable price.”
“That's good. Really. I mean, it's a reasonable price.”
On the partner and payout view
“Traditional systems never had something like this.”
“Whatever systems we have seen till now, many systems we have gone through, my only problem was this piece was basically missing. This becomes very crucial when you are dealing with [a] large number of [sourcing] partners and [a] large number of customers. They need to be tagged properly to track everything. Manually, at this scale, it becomes very, very confusing, and traditional systems never had something like this.”
On seeing bucket roll-back and roll-forward at account level
“My team takes half a day today just to get this data out manually.”
“My team takes half a day today just to get this data out manually. It takes so much time for my collection guys to figure which EMI should come and how we can roll back and roll forward and stabilise the buckets. So this is very good insight, and a very important one for the collections team today.”
Asked when he wanted servicing automated
“At this point, I can start within a month.”
“At this point, I can start within a month. We don't have a long red-tape bureaucrat chain that we need to go [through]. We just have to define SOP processes and then go ahead with it.”
At the end of the demo
“You have covered all the pain points of the smaller NBFC.”
“If you ask me, this is very good, what you have made. Really, I should appreciate this, because you have covered all the pain points of the smaller NBFC, frankly... [If] you ask me for the rating: 9 out of 10, because that is almost everything I am looking for.”
What they were looking at
The dashboards and the bucket views sit in Loan Management. The partner and payout view is Partner Management. The price they heard is on the pricing page, and the programme behind it is Lokta Next 100. The way a first call runs is on How we work.
See it on your own loans
Bring one loan product and your servicing policy. The demo runs on your use cases, not a screen-by-screen tour.
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