Lokta Core vs. Averoic

Lokta Core functions as a loan management platform centered around artificial intelligence, specifically designed for banks, NBFCs, and digital lenders aiming to enhance contemporary lending operations while ensuring compliance, control, and independence. It incorporates AI workflows that your teams are currently testing, such as agentic servicing, intelligent collections, and copilots for credit operations, guaranteeing these processes are integrated within a unified record-keeping system instead of being treated as supplemental add-ons. For a CXO contemplating immediate enhancements, three significant advancements are set to unfold by Monday. First, the speed at which products are launched will see a dramatic increase: new loan products and policy updates can be rolled out within days, contrasting with the traditional months-long timelines, all due to a governance-first and policy-oriented framework. In addition, overall operational expenses are likely to reduce as a consolidated, audit-ready system replaces a fragmented array of loan management, business rule management, collections, and reporting tools. Lastly, the platform is built to be AI-capable; every action undertaken—by operators, customers, or agents—is managed by established policies, reinforced through a maker-checker system, and backed by evidence, thus allowing the AI initiatives your board is eager to explore to be effectively implemented. Moreover, Lokta Core provides versatile deployment choices, enabling you to select between managed SaaS and single-tenant cloud solutions tailored to your organization’s specific requirements. This level of flexibility ensures that you can not only refine your lending operations but also leverage the latest in technological innovations to stay ahead in the competitive landscape. Ultimately, this positions your organization to meet the evolving demands of the market with confidence and efficiency.

Averoic is a no-code solution that facilitates the execution of governed and audit-ready business processes, offering a faster and more adaptable alternative to conventional ERP systems and the traditional use of spreadsheets and emails for operational tasks. The platform empowers users to configure intricate workflows and approval mechanisms—including maker-checker processes with predefined authority limits—while also managing forms, gathering data, creating dashboards, and generating reports, all under an attribute-based access control system that defaults to access denial, thereby ensuring a secure and tamper-proof audit trail, which allows for a fully operational system in just a matter of weeks. Averoic also provides pre-designed templates for a wide range of functions, such as loan origination, governance procedures for credit and investment committees, processing insurance claims, managing procure-to-pay cycles, facilitating vendor onboarding, executing finance postings, and overseeing payroll management. The platform excels in seamless integration capabilities through REST APIs and various communication channels, while incorporating robust service tasks and features for document generation and real-time notifications. Enhanced by an AI assistant that enables the creation of apps, forms, and workflows using simple language, Averoic guarantees per-tenant isolation and data residency options on AWS, whether utilizing cloud infrastructure or on-premises solutions. Currently implemented at UTI Alternatives, Averoic has demonstrated a remarkable acceleration of up to 60% in time-to-market for launching new lending processes, showcasing its capability to enhance efficiency and effectiveness in business operations. This agility not only supports organizations in adapting to industry demands but also empowers them to thrive amid the complexities of a rapidly evolving market landscape.