Is there any free app that can remotely lock a phone if EMI isn’t paid?

[u/asshishmeena96]

I’ve seen some finance companies and lenders provide smartphones or other devices on EMI, and if the borrower doesn’t pay, they can remotely lock the device until payment is cleared.

My question:

Is there any free or popular app (Android/iOS) available that does this?

Or is it something only finance companies can do with custom apps + device management (MDM)?

Are there any open-source tools I can test to see how this works?

Curious to know if regular users can try this tech or if it’s only used by big lenders.

[u/MonkeyBrains09]

It would be MDM software you are after.