Life Cycle of a Let’s MD Customer

1. Disbursement Team will call the customer & explain him the loan calculation.
2. Once the customer is agreed with the loan calculation, we will send the KYC documents,
NACH form for the signing & to get the E mandate done.
3. Once the E Mandate is done, we will ask the customer to share the self-attested KYC,
Signed Loan agreement, Signed DRF & signed NACH.
4. We will cross verify all these self-attested documents & send the consent letter to the
Hospital.
5. Hospital will share the duely signed consent letter with the hospital Bank details.
6. Once we get the Hospital consent letter, we will upload these documents (Self attested
KYC, Signed NACH, Signed DRF form, one passport size photo & Hospital consent) to
the lenders portal or send it through Email.
7. Lender will cross verify all these documents as per their requirement & give disbursal
approval to LetsMD.
8. LetsMD will disburse the amount to the hospital.
9. Lender will disburse the amount to LetsMD by T+1 ( T+1 = Step 7)

Let’s MD Services for Fintree

The scope of the activities for the digital processes by the Lets MD team is as follows: - provide the
details

1. Identification and enrolment of borrower Collection and verification of loan

2. Digital OR manual setup of repayments by customer
a. NACH
b. eNACH
c. Quick Pay – Customer can prepay the loan using services like UPI, Net Banking,
Digital Wallets, and Debit Cards
3. If loan application is approved, sending the collected documents to Fintree through Full
API Integration and all necessary customer and loan information is available
4. Send lead data into the format required by Lets MD for loan booking
5. Final settlements to LetsMd by Fintree through Disbursal account
6. Disbursement happen in lets MD account
7. Repayment (reminders sent to customer before EMI date and auto debit) and collection
capabilities available for EMI payments
8. Collections management if case moves into arrears
9. First point of contact for any customer queries/complaints will be Lets MD

Modes of Communication Lets MD and Fintree

Process Flow for Lets MD

.
The detailed process flow at each stage of the customer journey is as below.

A. Customer On-boarding Process

S.N. Description
a. Customer then registers with Lets MD and proceeds with his application.
b. The basic eligibility for the loan is as follows: provide the details
i. Resident Indian having PAN
ii. Self-employed only
iii. Age Limit: 21+
c. The enrolment form on- Let MD application would capture the following details:
i. Name – First Name, Middle Name Last Name and Mother’s Maiden Name
ii. Gender – Male and Female
iii. Date of Birth
iv. Mobile Number
v. PAN Number co-applicant
vi. Two references
d. Let’s MD system runs automated risk checks on the customer. The risk assessment is
performed as per the Credit Risk Policy approved by fintree Finance Let’s MD will
run a real time automated risk and fraud check to assess the customer credit
worthiness basis the details provided. The customer application will either be rejected
or requested to proceed to the next stage
e. Let’s MD performs the second automated risk and fraud check. Which includes
verification of KYC documents, confirmation letter from Hospital.
The KYC check is performed as per the KYC policy recommended and approved by
Fintree Finance

f. The loan amount would be minimum Rs.1 lakh to maximum Rs. 10 lakh and any
tenure between 3 to 12 months.
g. The ROI, EMI & Tenure applicable to the customer would be as per the mutually
agreed Terms & Conditions between Fintree and Let’s MD.

Task Information –Application Process

S.N. Activity By When By Whom

Customer clicks proceed and is then taken through the

1. enrolment journey. Day T Let’s MD
Customer to register/enrol for Lets MD option by filling
enrolment form.
The enrolment form would capture the following details:
i. Name – First Name, Middle Name Last Name and
Mother’s Maiden Name
ii. Gender – Male and Female
2. iii. Date of Birth Day T Let’s MD
iv. Mobile Number
v. Address with PIN Code
vi. PAN Number of the entity and the co-applicants
vii. Two references
Let’s MD system will run an automated risk check using the
3. enrolment details, data and conditionally approve or reject Day T Let’s MD
the customer.
Customer is asked to provide the last 12 months bank
statement. Customer can provide the bank statement through
4. the ePDF format. This has to be submitted along with the loan Day T Customer
application for and KYC documents at the time of the
preliminary loan application

B. KYC Process
Task Information - KYC Process

S.N. Activity By When By Whom

What is the KYC Policy?

Lets MD allows customers to complete the KYC process

1. submission of the KYC documents in the digital / scanned Day T Customer
formats to be further verified by the respective government
databases through the web portals.

ID Proof validation – Lets MD will ensure the PAN number

mentioned by the user on the form belongs to the applicant. Let’s MD
2. Day T
Lets MD will ensure the name on the POI provided by Team
customer matches with the name entered by the applicant on
the Lets MD online form
Address proof validation – Lets MD will ensure that the Let’s MD
3. Day T
address proof provided by the applicant is in his/her name Team
The documents uploaded by customers will be shared in real Let’s MD
4. Day T
time by Lets MD with Fintree through APIs. (Please Discuss) System
Credit history of the applicant will be checked by Lets MD and Let’s MD
5. Day T
report will be shared with Fntree. System
6.
Customer to Accept Loan Agreement Day T fintree
Credit Bureau Checks
Let’s MD will validate the credit history of the applicant Let’s MD
7. Day T
through Credit Bureaus like Experian and CIBIL. Team
Once the loan is approved, Lets MD will push the loan Let’s MD
8. Day T
application to Fintree. Team

List of Acceptable KYC Documents:

ID Proof Address Proof

Photo page of passport/PAN card/Voter ID/ Voter’s ID card/Driving
Driving License/Aadhaar card/offline License/Passport/Utility bill/Aadhaar
Aadhaar XML/e-Aadhaar Card/offline Aadhaar XML/ e-Aadhaar/Bank
Statement containing communication address

C. Approval process
Task Information – Approval

S.N. Activity By When By Whom

1. Customer to Accept Loan Agreement containing loan
Day T Fintree
details like ROI, EMI amount, Loan Schedule.
Let’s MD to facilitate loan repayment setup via Split pay
arrangement / NACH Mandate upload/eNACH setup/SI
2. Day T Fintree
setup. UPI 2.0 mandate setup to be available as a
repayment option once the feature is launched
Ask customer for the following:
i. Mother’s First Name
3. Day T Let’s MD
ii. Father’s First Name
iii. Marital Status
If KYC Documents and Risk profile of customer are not as
Fintree/
4. per mutually agreed KYC and credit policy between Lets Day T
Lets MD
MD and Fintree, the loan application is rejected.
5. If loan is declined, it is communicated to customer by Lets
Day T Let’s MD
MD team
Post loan approval, customer to be communicated by Lets
6.
MD team about the approval, approved ROI & EMI on Day T Fintree
loan.

D. Post Approval

Task Information – Post Approval

S.N. Activity By When By Whom

1. Let’s MD team to share the KYC documents, Repayment

mechanism (Nach/eNach/SI), Credit Bureau report (if any),
Agreement with time and ip stamp, Bank statement and
Day T Fintree
other documents if any. Let’s MD team will share the
customer details collected on Lets MD form via the API
integration where information could be seen by Fintree
2. Lets MD is informed about the loans approved Day T Fintree
3. Fintree makes disbursement to the Disbursal Account based
on the data collected through the API Integration in LetsMd Day T + 1 Fintree
account

E. Collection Policy
Task Information – Collection Policy

S.N. Activity By When By Whom

NACH/eNACH/SI will be collected by Lets MD or set
Before Loan
1. up during on boarding as part of the documentation Fintree
Approval
process.
EMI Schedule will be generated by Lets MD System and
Day Loan is
2. shared with borrowers through email at time of Fintree
disbursed
disbursement and update on Fintree system.
Let’s MD to initiate reminder SMS and Email to the 3 days
3. customer 3 days before the EMI due date to ensure before EMI Fintree
enough balance in the account. due date
Let’s MD will present the NACH and will share the
collection detail with Fintree over email or API’s. This
would be for transactions (EMIs through EMI
4. NACH/eNACH/SI/UPI/NEFT or invoice link). The collection Fintree
repayments will be routed to the Collections Nodal date + 1
account from which entire amount is routed to Fintree
Bank Account

F. Return & Refund Process (Post Disbursal)

Customer Support

S.N. Customer Service and Support By Whom

1. Mix of in-house + outsourced team to handle customer contact via
Fintree
phones, emails and chat
2. Communicate deadlines, EMI amounts, need of further
Fintree
documents/proof, and more to customer

Collection Process for Overdue Cases

S.N. Collections Processes By Whom

1. Oye C-Score (collections score) helps determine collections strategies Fintree
for each customer segment. Using decision tree methodology, C-
Score classifies customers into various segments ( Low risk, Medium
risk and High risk) within each collection cycle (0-15PD, 16-30 DPD,
 31-60DPD, 61-90DPD) based on prior communication, collection
history, Oye and B-Scores, as well as customer’s risk exposure
(Principal at risk). Both automatic and manual collection strategies
are set up based on these segments.
2. Lets MDto use automated communications (Voice blasts, SMS) for
Fintree
low risk customers and high touch calling for high risk customers
3. Mix of in-house telle-calling team + outsourced agents including
Fintree
field agents
4. Lets MD to also use techniques such as skip tracing, overdue letters,
Fintree
legal letters notices etc, in order to drive collections

G. Personal Loans

S.N. Activity By When By Whom

Generate base of existing customers with on time
1. Day T Fintree
payments for consumption loans
Send mailers/SMS/Call/notification to these customers
2. stating that by invitation only you are eligible for a Day T Fintree
personal loan.
Customer needs to indicate interest for PL by giving
3. missed call to a specified number or by logging into the Day T Fintree
Lets MD account and clicking on the link for Personal Loan
Let’s MD team conducts another level of risk checks as
4. agreed with Fintree on these customers to assess credit Day T Fintree
worthiness for PL and approves or rejects them
If rejected, Lets MD to communicate to the same to the
5. Day T Fintree
customer.
If approved, communicate to customer that money will be
6. Day T Fintree
credited in 24 hours or 1 working day from approval
Send MIS and all customer details (with documents) to
7. Day T Fintree
Fintree for disbursal

8. Fintree disburses amounts into LetsMd disbursal Account Day T+1 Fintree

Day T+1,
9. Lets MD transfers funds to customer’s bank account Fintree
T+2
H. Post Activation Scenarios

S.N. Activity
Full and Partial Cancellation: Customer decides to cancel the loan once approved
Course of Action:
- Let’s MD: Customer contacts Lets MD and return the money to Fintree Finance.
1.
Let’s MD will also communicate this to the Fintree Finance
- Fintree: Fintree updates their Loan Management System to reflect the
cancellation.
Pre-Closure: Customer decides to close the loan in part or full before the end date. Let’s
MD does not charge any pre-closure fees.
Course of Action:
2. - Fintree: Lets MD will transfer the money to the lender.
- Fintree: Fintree updates their Loan Management System to reflect the pre-
closure.
Dynamic Affordability Limit: Overall credit risk and spending pattern, repayment,
3. and other data will constantly change credit limit of customer as per agreed guidelines
between Lets MD and Fintree Finance.
Refund to Fintree: Refund of any repayments to Lets MD by Fintree under scenarios
like double debit, excess payments settled. At times, customers are likely to erroneously
4. make double EMI payments and thus request for refund of one payment. Let’s MD will
share the details with Fintree and request for refund which will then be transferred to
the customer.