Overview
One software, two journeys
The business runs two lending products that share the same back office, data model and collection rails, but follow different origination journeys. We build one platform with a product-type switch rather than two separate systems.
Priority 1
Customer onboarding first
KYC automation and data fetch so the back-office team sees a complete profile on one dashboard and decides manually.
Manual now
Credit & disbursement
Credit review and disbursal stay manual initially; automate once volume and confidence build.
Required
Automated collection
UPI AutoPay / NACH mandates for daily repayment — the one piece that must be automated from day one.
Delivery principle: ship priority modules fast so operations can begin, and close third-party-dependent pieces (collection APIs, Account Aggregator) module by module as they become available.
The Two Products
What we're building for
Same platform, two different borrower journeys and risk models.
PRODUCT 1 · field-sourced
Business Loan
- Source
- Field sales team (visits, WhatsApp-style app)
- Borrower
- Shop / business owners
- Credit
- Manual review (no rule engine yet)
- Disburse
- Manual bank transfer
- Tenure
- ~100 days, daily EMI
- Collect
- UPI AutoPay mandate (daily), split-sweep option
- Data
- PAN, Aadhaar OCR, GST, bank (AA + manual upload)
PRODUCT 2 · fully digital
Short-Term Personal Loan
- Source
- Digital ads, WhatsApp, in-house calling
- Borrower
- Metro salaried, min salary ₹35,000
- Credit
- Rule engine (automated assessment)
- Disburse
- Instant, 15–30 min to account
- Tenure
- 30–35 days (salary cycle); loan ≈ 30–35% of salary
- Collect
- Customer-initiated (repeat / top-up); no binding mandate
- Data
- eKYC, Video KYC, PF/UAN, salary slips, live address
Architecture
One platform, three applications
A shared platform core serves a web back-office console, a customer app, and (later) a field-sales app, all wired to the same integrations.
Priority 1
Web Console
Back-office & credit team — onboarding, decisioning, disbursement, LMS, collections, admin.
Priority 1–2
Customer App (Android)
Digital application, eKYC + Video KYC, e-sign, status & repayment. KYC-compliant device permissions.
Later
Field Sales App
Beat capture, geo/time-stamped live photos, anti-fake detection, doc capture. Needed at multi-branch scale.
Journey · Product 1
Business Loan — field to daily collection
Field-sourced lead → auto-fetched profile → manual credit decision → manual disbursement → automated daily UPI collection.
Business loan origination & collection flow
Design notes. Every data pull (PAN, Aadhaar, GST, bank via Account Aggregator) has a manual upload fallback because not all banks/co-ops are integrated. Credit decision and disbursement are manual — both carry a maker-checker and full audit trail.
Journey · Product 2
Personal Loan — apply to disburse in minutes
Digital lead → self-service eKYC + Video KYC → rule-engine assessment → instant disbursal, with no field touch.
Digital personal loan flow
Why no repayment mandate here. These are repeat, short-cycle loans — borrowers pre-close and re-borrow, or shift repayment with their salary date — so a fixed mandate would bounce. Repayment is customer-initiated; a mandate can be revisited later.
Modules
Modules to be built
Each module carries a priority. P1 ships first to get operations running; later items follow as volume and integrations mature.
◆
1 · Customer Onboarding & KYC
P1
- PAN → auto-fetch profile
- Aadhaar OCR + API authentication
- Minimal-entry / voice-assisted forms
- Consent capture & de-duplication
◆
2 · Document & Data Fetch Hub
P1
- Bank statements via Account Aggregator + manual upload fallback
- GST turnover & 6–12 month returns
- Bank-statement analyser: bounces, running EMIs, NACH returns, salary dates
- Per-API cost metering (API wallet)
◆
3 · Credit & Underwriting
P1 manual · P2 rules
- Consolidated applicant view on one dashboard
- Manual limit sanction + maker-checker (Product 1)
- Rule engine for Product 2: CIBIL overdue, pay-day stacking, NACH returns, salary date, FOIR
- Reason codes for reject / hold
◆
4 · Loan Origination & Application
P1
- Application capture with product-type switch
- Co-applicant / guarantor
- Status tracking & pipeline
- One codebase, two journeys
◆
5 · Sanction & Disbursement
P1 manual
- Sanction letter & offer terms
- e-Sign / e-Stamp agreement
- Manual disbursement record + bank transfer
- Auto-disbursement switch (enabled later)
◆
6 · Loan Management (LMS)
P1
- EMI & interest calculation
- Penal charges & processing-fee config
- Repayment schedule & booking
- Repeat-loan / top-up handling (Product 2)
◆
7 · Collections
P1
- UPI AutoPay mandate (daily, ~100-day)
- eNACH + re-presentation
- Split / daily-sweep collection option
- Bounce handling, reminders & dunning
◆
8 · Customer App (Android)
P1–P2
- Digital application & document upload
- eKYC + Video KYC, e-sign
- Status, repayment, top-up
- KYC-compliant device-data permissions
◆
9 · Field Sales App
Later
- Beat / visit capture
- GPS + time/geo-stamped live-camera photos
- AI liveness / anti-fake image detection
- Doc capture with on-device verification
◆
10 · Admin & Configuration
P1
- Products, schemes, ROI, PF & penal config
- Roles, permissions & branches
- Rule-engine configuration
- Integration / API credentials
◆
11 · Dashboards, MIS & Reports
P1
- Pipeline / funnel & TAT
- Approval vs rejection analysis
- Disbursed register & collection efficiency
- Per-branch & per-agent performance
Integrations
Third-party integrations & ownership
KYC-licensed APIs are taken under the client's NBFC; verification & rails are arranged by us. Final selection is made on cost and service after the client shares their shortlist.
| Integration | Purpose | Provided by | Notes |
|---|
| eKYC / Aadhaar | Identity verification, Aadhaar e-sign | Client (NBFC) | Licensed; client applying |
| PAN verification | Profile fetch & validation | We arrange | — |
| Account Aggregator | Bank statement fetch (consent) | Client — Perfios / Digit | New NBFC onboarding rules from Nov — timeline risk; manual upload fallback |
| GST | Turnover & returns (6–12 mo) | We arrange | ~30–40% of Product-1 borrowers |
| Credit bureau (CIBIL) | Score, overdue & obligations | Client (NBFC) | Consent-based |
| PF / EPFO (UAN) | Employment & salary verification | We arrange | Confirm API availability |
| UPI AutoPay | Daily auto-collection | We arrange | Via payment aggregator |
| eNACH | Recurring debit mandate | We arrange | Supports re-presentation |
| e-Sign / e-Stamp | Loan agreement execution | We arrange | Aadhaar e-sign |
| E-commerce live address | Live address for digital loan | Client source | Product 2, no field check |
| Device-data SDK | Device signals (Product 2 app) | Digit app SDK | Only KYC-compliant permissions |
| SMS / WhatsApp / Email | OTP, marketing, notifications | We arrange | Apply-now links, reminders |
Collections
How repayment is collected
Collection is the one flow that must be automated from day one for Product 1.
UPI AutoPay mandate
Daily EMI pulled automatically over the ~100-day term. Primary rail for Product 1.
Split / daily sweep
A share of every UPI inflow is deducted at source until the day's EMI is met — suited to high digital-collection merchants.
eNACH
Recurring-debit mandate with re-presentation when a debit fails.
Reality check on "non-cancellable" mandates. By regulation, UPI AutoPay and eNACH mandates can be paused or revoked by the customer and require a pre-debit notification — a mandate cannot be made truly un-stoppable. The platform therefore treats bounces as normal: it re-presents (eNACH), retries, and runs reminder / dunning workflows. We will confirm the exact behaviour with the chosen payment aggregator.
Roadmap
Phased delivery
Priority modules go live first so operations can start; integration-dependent pieces follow as APIs land.
1
NOW · get operations running
Onboarding, manual decisioning & collection (Product 1)
- Web console + Customer onboarding & KYC automation
- Data-fetch hub: PAN, Aadhaar OCR; bank (manual + AA where available); GST
- Credit dashboard (manual) + manual disbursement with maker-checker
- Collections: UPI AutoPay mandate (daily) + LMS core (EMI, charges, PF)
2
NEXT · digital lending
Product 2 instant personal loan
- Digital self-service journey + Customer app
- Rule engine assessment + Video KYC + e-sign
- Live-address integration + instant (15–30 min) disbursal
- Repeat-loan / top-up handling
3
AS APIs LAND · deepen automation
Integrations & automation
- Account Aggregator full coverage; GST & bureau live
- Split / daily-sweep collection & eNACH
- Auto-disbursement switch enabled once confidence builds
4
LATER · scale
Field sales app & multi-branch
- Field CRM: beats, geo/time-stamped photos, anti-fake detection
- Multi-branch rollout beyond the first market
Compliance & Controls
Built-in safeguards
Added to the plan as recommendations — especially important for the digital product.
Regulatory
- RBI Digital Lending Guidelines: Key Fact Statement, cooling-off period, direct disbursal to borrower account (no pass-through), regulated-entity branding, grievance redressal, FLDG if applicable.
- DPDP Act 2023: explicit, auditable consent per data pull; purpose limitation; retention policy.
- App permissions: only KYC-compliant permissions; no access to contacts/media; banned foreground permissions avoided.
Operational controls
- Maker-checker on manual credit decisions and manual disbursement.
- Full audit trail — who/what/when on every decision and money movement.
- Consent artifacts & e-sign stored for AA, bureau pull and the loan agreement.
- Field anti-fraud: liveness / AI-image detection, geo + time stamps, EXIF checks.
Open Items
What we need to proceed
- API shortlist with costs (eKYC, SMS, WhatsApp, Email, Device Data, e-commerce address)Client
- KYC / bureau API credentials under the NBFCClient
- Account Aggregator onboarding timeline (Perfios / Digit; Nov rule change)Client
- Key credit data-points list for the dashboard & analyserClient
- Reference apps for the Product-2 digital journeyClient
- Confirm UPI AutoPay / eNACH & split-settlement providerUs
- Confirm PF/EPFO verification API availabilityUs
- Product plan + module flow (this document) & delivery kickoffUs