RFP Software for Fintech: 7 Tools Compared (2026)
A vendor-by-vendor comparison of RFP and security-questionnaire software for fintech, covering SQ automation, SOC 2 and ISO 27001 posture, portal submissions, and sourced pricing.
Robert Dickson
RevOps Manager, AutoRFP.ai··13 min read
Last updated 13 July 2026. What we reviewed: publicly listed pricing, G2 and Capterra ratings (minimum 20 reviews where available), each vendor’s security documentation and trust center, and hands-on knowledge of fintech RFP and security-questionnaire workflows. Changelog: initial publication.
RFP software for fintech is a response-automation platform that answers the RFPs and, critically, the security questionnaires (SQs) that enterprise and financial-institution buyers send before they will sign. For fintech, the tool must automate SIG/CAIQ-style questionnaires, reflect your live SOC 2 and ISO 27001 posture, support procurement portals, and guarantee your confidential data is never used to train public models.
- Fintech buyers routinely send a long security questionnaire alongside or before the commercial RFP.
- Standardized SQ templates (SIG, CAIQ) plus bank-specific portals dominate the motion.
- A single enterprise deal can trigger an RFP, a DDQ, and one or more SQs.
- SOC 2 Type II and ISO 27001 are baseline; buyers’ legal teams verify claims.
- 65% of top-performing teams already use AI proposal technology to keep pace.
Which tool for your use case
| If your situation is… | Start with |
|---|---|
| Best RFP software for a B2B SaaS fintech selling to enterprises | AutoRFP.ai |
| You are drowning in security questionnaires specifically | Conveyor or AutoRFP.ai |
| You have a dedicated content manager to govern a library | Loopio or Responsive |
| You want a lightweight AI answer bot inside Slack/Teams | 1up |
| You want an AI-native tool without heavy enterprise setup | Arphie or Hey Iris |
| You submit through procurement portals (Ariba, UpGuard, Whistic) | AutoRFP.ai or Responsive |
How we compared these tools
We weighted five criteria: security-questionnaire handling (30%), data privacy and posture accuracy (25%), response accuracy and tailoring (20%), portal and integration support (15%), and pricing transparency (10%). Ratings reference G2/Capterra where a vendor has at least 20 reviews. We do not assign our own star scores.
| Platform | Best for | SQ automation | Portal support | Public pricing | G2 rating |
|---|---|---|---|---|---|
| AutoRFP.ai | RFPs + SQs in one AI-native platform | Yes | Yes | Yes ($899/mo) | 4.9/5 |
| Responsive | Large bid desks, complex stacks | Yes | Yes | No (quote) | 4.5/5 |
| Loopio | Library-led teams with a content owner | Partial | Partial | Partial (~$20k/yr) | 4.7/5 |
| Hey Iris | AI-native RFP and SQ automation | Yes | Partial | No (quote) | 4.9/5 |
| Arphie | SMB AI-native RFP automation | Partial | Partial | No (quote) | 5/5 |
| 1up | Answer bot in Slack/Teams/Salesforce | Yes | Partial | Yes (from $300/mo) | 4.9/5 |
| Conveyor | Dedicated security-questionnaire tool | Yes | Yes | No (quote) | 4.8/5 |
The 7 tools, compared
1. AutoRFP.ai
AutoRFP.ai is an AI-native platform that drafts RFP, DDQ, and security questionnaire answers from your approved documents and past submissions.
AI-first? Yes. Semantic search over source content, with visible sources and confidence scoring per answer, plus a Q&A bot for one-off questions in Slack and Teams.
Pricing: Public and project-based, from $899/month with unlimited users — useful when security, legal, and sales all review.
Who is it for? Fintechs handling both narrative enterprise RFPs and a steady stream of SQs.
Data privacy: SOC 2 Type II and ISO 27001 certified; customer data is not used to train public models; SSO, RBAC, audit trails, and data residency.
Where it falls short: Teams whose only workload is security reviews (no RFPs) may find a dedicated SQ tool simpler.
Takeaway: the strongest single platform when your fintech faces both enterprise RFPs and heavy security-questionnaire volume.
2. Responsive (formerly RFPIO)
Responsive is an enterprise response platform for high volumes of concurrent RFPs and questionnaires.
AI-first? Partial. Strong import and requirement analysis; AI answers can be generic on nuanced security items.
Pricing: Quote-only, per-seat, with premium onboarding often an add-on.
Who is it for? Larger fintechs with a staffed bid desk and library discipline.
Data privacy: Mature enterprise controls and integrations.
Where it falls short: Opaque pricing and reliance on a manually maintained library.
Takeaway: capable at enterprise scale, but you maintain the library rather than the AI maintaining it.
3. Loopio
Loopio centers on a curated content library with “Magic” recommendations.
AI-first? Partial. Good at matching stored answers; complex SQ items need editing.
Pricing: Foundations from $20,000/year; Vendr data near $23,000/year, plus per-seat cost.
Who is it for? Teams with a dedicated content manager.
Data privacy: Recognized certifications and enterprise controls.
Where it falls short: Static library must be re-audited as your posture and controls evolve.
Takeaway: dependable when someone owns library upkeep; less so for fast-changing security content.
4. Hey Iris (Iris AI)
Hey Iris is an AI-native response platform for sales, presales, and compliance teams handling RFPs, DDQs, and security questionnaires.
AI-first? Yes, with cited AI drafts and unlimited RFx, DDQ, and security-questionnaire credits on paid plans.
Pricing: Per active user, quote-only via sales; heyiris.ai/pricing lists unlimited submission credits with no per-questionnaire overage fees. See Hey Iris alternatives for context.
Who is it for? Lean fintech teams wanting fast AI drafting across RFPs and security questionnaires without credit caps.
Data privacy: Confirm certifications and training commitments directly with the vendor.
Where it falls short: Teams needing deeper workflow governance, portal automation, or broader integrations may outgrow its feature set.
Takeaway: a strong AI-native option for fintech SQ volume; verify portal support and enterprise controls before large bank deals.
5. Arphie
Arphie is an AI-native RFP tool for SMBs that want automation without heavy setup.
AI-first? Yes, with source references, confidence scores, and content clean-up.
Pricing: Quote-only; see Arphie alternatives.
Who is it for? Small and mid-sized fintechs wanting quick deployment.
Data privacy: Advertises SOC 2 Type 2, SSO, and encryption; confirm training commitments.
Where it falls short: Less proven on the largest, most complex enterprise SQ programs.
Takeaway: a fast-to-deploy AI-native option for smaller fintech teams.
6. 1up
1up is an AI answer engine that surfaces trusted answers inside Slack, Teams, Google Chat, browser plugins, and Salesforce.
AI-first? Yes, grounded in connected knowledge sources.
Pricing: Public — free plan, Starter $300/month, Plus $900/month, Enterprise custom. See 1up alternatives.
Who is it for? Sales, presales, and RevOps teams that want fast answers in their existing tools.
Data privacy: Knowledge connectors keep answers grounded; verify certification scope.
Where it falls short: Oriented to answering questions more than managing full formal RFP/SQ submissions.
Takeaway: great as a workflow answer bot; pair it with a formal submission platform for enterprise deals.
7. Conveyor
Conveyor is a dedicated security-questionnaire and trust-center platform.
AI-first? Yes, purpose-built to autofill SQs and manage a trust profile.
Pricing: Quote-only.
Who is it for? Security and GRC teams whose primary pain is inbound security questionnaires and portals.
Data privacy: Built specifically for security-review workflows and posture sharing.
Where it falls short: Focused on SQs; not a full narrative-RFP proposal platform.
Takeaway: the sharpest tool if security questionnaires — not RFPs — are your bottleneck.
Security-questionnaire automation
The fintech motion lives and dies on SQ turnaround. A strong tool extracts questions from a SIG or CAIQ workbook, drafts sourced answers from your controls documentation, flags low-confidence items for your security team, and exports back in the buyer’s exact format. Test this end-to-end: automating security questionnaires is where fintechs recover the most time.
SOC 2 and ISO 27001 posture
Your answers are only as good as their currency. When a control changes or a new subprocessor is added, library-based tools require you to hunt down and edit every affected answer. AI-native tools that draft from your live trust documentation reduce that drift. Either way, confirm the tool surfaces the source behind each security answer so your reviewers can verify against the current SOC 2 report.
Zero-training-on-your-data
For fintech, this is non-negotiable. Get a written commitment that your data is not used to train public models, confirm where data is stored, and check that certifications (SOC 2 Type II, ISO 27001) are current and in scope. A vendor that cannot state this plainly is a risk your own buyers will flag.
Portal submissions
Much fintech procurement runs through portals — Ariba, UpGuard, OneTrust, Whistic, and bank-specific systems. Confirm the tool can pull questions from the specific portals you face, draft answers, and export or paste them back, rather than only handling uploaded Word/Excel documents.
How to choose
- Measure your SQ-to-RFP ratio over the last 12 months — fintech usually skews SQ-heavy.
- Weight SQ automation and data privacy first.
- Trial against a real SIG/CAIQ workbook and a real enterprise RFP.
- Confirm portal support for the exact portals your buyers use.
- Model total cost including every security, legal, and sales reviewer who needs access.
Questions to ask your vendor
- Do you use our data to train any public model? Where is it stored, and what is your residency option?
- Can you autofill a SIG or CAIQ workbook and export it in the buyer’s format?
- Which procurement portals do you support natively?
- How do you keep security answers current when a control or subprocessor changes?
- What is the all-in annual cost with every reviewer seat included?
Key takeaways
For fintech, choose on security-questionnaire automation, data-privacy commitments, and portal support — not RFP speed alone. Broad platforms (AutoRFP.ai, Responsive, Loopio) suit teams juggling RFPs and SQs together; Conveyor is sharpest if security questionnaires are your only bottleneck. Trial against real SIG/CAIQ workbooks and get the zero-training commitment in writing. See our best RFP software guide for the full landscape, and the asset-manager comparison if you also field investor DDQs.
Frequently asked questions
How much does RFP software for fintech cost?
Costs vary widely. Loopio starts around $20,000/year with per-seat pricing on top, and Vendr data puts typical contracts near $23,000/year. Responsive is quote-only and per-seat. 1up publishes tiers (free, Starter $300/month, Plus $900/month, Enterprise custom). Conveyor and Hey Iris are largely quote-based. AutoRFP.ai publishes project-based pricing from $899/month with unlimited users, which suits cross-functional security and sales reviews.
What is the difference between an RFP and a security questionnaire for fintech?
An RFP asks a fintech to describe its product, pricing, and fit for a buyer. A security questionnaire (SQ) is a risk assessment — SIG, CAIQ, or a bank's bespoke template — probing your SOC 2 and ISO 27001 posture, data handling, and controls. Fintech deals are SQ-heavy: enterprise and financial-institution buyers often send a long security questionnaire before or alongside the commercial RFP.
Can RFP software fill in security questionnaire portals automatically?
Some tools can. Portal-based questionnaires (Ariba, UpGuard, OneTrust, Whistic, and bank-specific portals) are common in fintech procurement. Look for a platform that extracts questions from the portal, drafts sourced answers, and lets you export or paste back — rather than one that only works on uploaded Word/Excel files. Confirm the specific portals you face are supported before buying.
Does AI RFP software train on our confidential security data?
It should not, but you must verify. Insist on a written commitment that your data is not used to train public models, plus SOC 2 Type II and ISO 27001 certification, data residency options, SSO, and audit trails. For fintech handling regulated financial data, zero-training-on-your-data is a baseline requirement, and reputable vendors will state it in the contract.
What is the best RFP software for a B2B SaaS fintech selling to enterprises?
The best fit is a platform that handles both narrative RFPs and high volumes of security questionnaires from one content library, with strong data-privacy commitments and portal support. AutoRFP.ai, Responsive, and Loopio all serve this profile; SQ specialists like Conveyor are strongest on the security-questionnaire slice specifically. Trial each against a real SIG or CAIQ questionnaire, not a demo set.
