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by Rakesh Waghela

12.1 Phase 1 — Lending MVP

Goal

Section titled “Goal”

Get the first 50 – 200 disbursements live on a single working-capital line product, with full compliance, basic UX, and acceptable operational discipline.

Features

Section titled “Features”
  • Channels: direct borrower portal + DSA portal + CA portal (basic).
  • Application: full borrower journey for one product (WC line).
  • KYC: PAN + Aadhaar offline + V-CIP + GST + Udyam verification.
  • Data ingestion: AA-based bank statement + GST pull + bureau (all 4 CICs via aggregator) + Tally manual upload.
  • Underwriting: 30 – 50 rules covering eligibility, bureau, GST, BSA basics + manual review for refers.
  • Sanction / KFS: standardised KFS + sanction letter generation in English + 2 vernacular.
  • Documents + eSign + eStamp: full execution flow.
  • NACH / eNACH: mandate activation.
  • Disbursement: payout via sponsor bank API; full reconciliation.
  • LMS basics: account creation, schedule, accrual, NPA classification, daily MIS.
  • Collections: NACH cycle, bounce handling, soft tele-calling.
  • Bureau monthly submission to all 4 CICs.
  • CKYC upload / search.
  • Admin console: product + policy + pricing + fee + RBAC + approval matrix.
  • Borrower portal post-disbursement: statement, repayment via PG / QR.

Integrations

Section titled “Integrations”
  • Karza / Signzy / IDfy (KYC suite).
  • Setu / FinBox (AA).
  • Perfios (BSA).
  • One GSP (Cygnet / Webtel / Vayana).
  • Leegality / Digio (eSign + eStamp).
  • Digio + Razorpay (NACH).
  • Razorpay (PG + payouts).
  • Sponsor bank (NACH + virtual accounts + payouts).
  • Gupshup (SMS + WhatsApp), SES (email).
  • Exotel / Knowlarity (IVR + dialer).
  • 4 CICs (bureau pull + submission).
  • Internal DMS + warehouse.

Team

Section titled “Team”
  • ~20 – 28 people total (per 9.2).
  • Engineering: 8 – 12.
  • Operations: Head + 3 – 5.
  • Credit: Head + 2 – 3.
  • Sales: 2 – 3.

Time

Section titled “Time”

3 – 6 months from Phase 0 completion.

Build vs buy

Section titled “Build vs buy”
  • LOS + LMS: buy from CloudBankin / Finezza / Biz2X if time-critical; OR build minimal (12 – 18 weeks) for control. Recommendation: build minimal LOS + LMS with strong integration to vendor primitives.
  • Co-lending allocation: defer to Phase 2.
  • Warehouse + analytics: start with PostgreSQL replica + Metabase. Snowflake / dbt by Phase 4.
  • Workflow engine: Camunda 7 embeddable OR custom state machines for now.
  • Rule engine: decision tables + JSON-Logic.

Acceptance criteria

Section titled “Acceptance criteria”
  • 100+ disbursements live without compliance escapes.
  • KFS issued, eSigned, NACH activated for every loan.
  • Daily NACH presentation + reconciliation working.
  • Monthly bureau submission successful to all 4 CICs.
  • CKYC uploads completing.
  • Audit log integrity verified.
  • Pen test conducted, critical findings remediated.

Risks

Section titled “Risks”
  • Vendor integration delays (especially AA, sponsor bank).
  • Compliance gap discovered late (KFS computation, recovery agent rules).
  • Loan operations not ready for first NPAs.
  • Engineering scope creep — too many products / channels at MVP.

Go / no-go for Phase 2

Section titled “Go / no-go for Phase 2”
  • Phase 1 stable for at least 2 months.
  • First-loan-default rate within plan.
  • One co-lending partner in active negotiation.