Lokta

Overview

Lokta covers servicing, monitoring, collections and recovery across personal, consumer durable and BNPL, vehicle and EV, home, loan-against-property, business/MSME, and supply-chain or invoice-finance loans. That breadth may suit lenders operating several product lines. Teams looking for origination, underwriting, credit decisioning or origination-time pricing will need other software for those tasks.

Agents propose actions, while a deterministic core checks policy and approvals before changes reach the ledger. This gives operations teams a defined gate for automated proposals rather than direct agent-led ledger updates. It is a meaningful control, but its value depends on the lender’s policies and approval workflows.

Key features

Integrations and model choices

Lokta connects to NACH and UPI rails, payment aggregators, core banking and escrow, credit bureaus, co-lending partners, collection agencies and WhatsApp channels. Feeds are risk-rated and proved safe in a controlled path before they can write to the live book, a useful safeguard where external data or payment flows could affect servicing records.

Supported model choices include OpenAI, Anthropic, Google Gemini, Meta Llama, Mistral, Cohere and self-hosted open models. This range gives lenders a choice of model provider, including self-hosting, but does not change Lokta’s post-approval scope.

Deployment, security and residency

Deployment options include AWS, Microsoft Azure, Google Cloud, on-premises and a customer virtual private cloud. Stated controls include Keycloak OIDC/OAuth2, role-based access control, maker-checker workflows, structured audit trails, schema-per-tenant PostgreSQL isolation, field-level PII encryption, TLS and optional mTLS. Tenants can pin deployments to a region, with separate deployments for each residency boundary. These options are relevant to lenders with deployment or data-residency requirements; the right fit depends on their own architecture and controls.

Lokta uses founder-led adoption with a small lender cohort and begins with a drift audit before anything moves. That staged start may help teams assess operational differences before implementation proceeds.

Pricing

Lokta Next 100

Lokta Next 100 costs 0.00 INR per free, with a billed ₹0 platform fee for 24 months. It is for NBFCs with AUM up to ₹100 crore at enrolment, excluding pure-play microfinance NBFCs. The offer is therefore a fit only for eligible lenders, not a general free tier. Migration costs ₹1 lakh one-time plus applicable taxes, and bank integration costs ₹50,000 plus applicable taxes. Bureau reporting, email support and phone support are included in the programme.

After the free term

Lokta Next 100 after free term costs 1.00 INR per month, billed at 1 bps per month on AUM (₹1,000 per crore), plus applicable taxes. It begins after 24 months or when average monthly AUM exceeds ₹100 crore for two consecutive months; AI usage is metered separately. Lenders should account for both the AUM-based charge and separate AI usage when assessing ongoing cost.

Both plans support interest calculation, payment scheduling, a borrower portal and API access. The Next 100 offer’s 24-month platform-fee waiver does not remove its stated migration and bank-integration charges or its eligibility conditions.

Platforms

Lokta supports API, Linux, self-hosted and web platforms. Its cloud, on-premises and virtual private cloud deployment options may suit lenders that need control over where the platform runs.

Who it's for

Lokta is best suited to banks, NBFCs, fintech lenders and lending service providers that need post-approval servicing across one or more of its supported loan types. Its approval gate, controlled integration path and deployment choices may appeal to teams automating sensitive operations while retaining policy checks. It is a poor fit for organizations seeking a single system for applications, underwriting, credit decisions and loan servicing.

Pros and cons

• Pros: Agent proposals pass policy and approval checks before ledger changes, which makes governance central to the automation model.
• Pros: Broad loan coverage and connections across payment rails, core systems, bureaus and collections partners support varied servicing operations.
• Pros: Multiple deployment environments, regional pinning and stated access, audit and encryption controls give lenders options for infrastructure and residency needs.
• Cons: Origination, underwriting, credit decisioning and origination-time pricing are outside scope, so lenders need other tools for those stages.
• Cons: Next 100 is limited by NBFC eligibility and AUM conditions; migration and bank integration carry additional charges, and AI use is metered separately after the free term.

Alternatives

Loan Management Software is a category directory for comparing loan-management options.

• UnPay Loan Management System may be worth comparing for its free sandbox plan, 480 API endpoints and Android and iOS support; its Enterprise plan uses custom annual pricing.
• Frappe Lending is an alternative for teams seeking GPL-3.0 self-hosted software or a Frappe Cloud option.
• FIS Data Integrity Manager is a paid, web-based alternative.
• The Mortgage Office is a paid option with web, macOS, Windows and API platforms, with pricing available by contacting sales.
• AFSVision is a paid option supporting web, iOS and Android.
• AllCloud Loan Management System is a paid option supporting web, iOS and Android.
• Canopy is a paid API and web option with a custom commercial plan.
• Enterprise! is a paid option supporting web, iOS and Android.

Verdict

Choose Lokta if your lending operation needs governed post-approval servicing across varied loan books and you can work within the Next 100 eligibility and cost terms. Its clearest advantage is the policy-and-approval gate between agent suggestions and ledger changes, backed by flexible deployment and integration controls. Look elsewhere if you need origination or underwriting, or if the programme’s NBFC limits and added charges do not fit your operation.