# Beta product + pitch launch checklist

**Purpose:** Decide honestly: *Can we pitch?* vs *Can we fund live loans?*  
**Culture:** Hand up, not hand out · Root-cause three prongs · Customer success + cash-flow ASAP  
**Owners:** Invoke agents — `/chief-operating-officer` · `/chief-risk-officer` · `/positioning-copy-lead` · `/customer-success-credit` · `/fintech-cfo` · `/tradfi-defi-compliance` · `/investor-relations`

**Status key:** `[ ]` open · `[~]` in progress · `[x]` done · `[-]` N/A  

---

## 0. Positioning gate (must pass before either path)

Differentiated from **symptom-only** fintech (budget app alone, flex LOC, gig scrape).

| # | Item | Owner agent | Status |
|---|------|-------------|--------|
| 0.1 | Hub hero states **three interrelated crises** + three prongs | positioning-copy-lead | [x] |
| 0.2 | TrueTerm = **installment not LOC**; Clearask = method; XRPL = rail | positioning-copy-lead | [x] |
| 0.3 | **Paid In Full Credit** named correctly; hand-up culture | positioning-copy-lead | [x] |
| 0.4 | Investor **silos** + symbiotic stack (UW truth, funnel) | positioning-copy-lead / IR | [x] |
| 0.5 | Wage30 origin: gig risk → **$30+** services, worker-direct | positioning-copy-lead | [x] |
| 0.6 | Full copy audit of hub, apply, LPD, investor pages for overclaim | positioning-copy-lead | [ ] |
| 0.7 | Pitch PPTX raise language = **$1M+$1M → $25M → $100M** | IR / positioning | [~] |

**Fail closed:** If 0.6 fails, do not scale paid ads or “live lending” claims.

---

## A. Ready to pitch the business (investor / partner)

Goal: raise seed ($2M ladder story) with **integrity** — no fake funded volume.

| # | Item | Owner | Status |
|---|------|-------|--------|
| A.1 | Living Pitch Decks live for primary products | IR | [x] |
| A.2 | Operating model v1.2 (proforma, sensitivities, unit P&Ls) | fintech-cfo | [x] |
| A.3 | Data room: ask, proforma table, FAQ, risks | IR | [x] |
| A.4 | Culture + silos docs public | IR | [x] |
| A.5 | Founder bio + VC memo current | IR | [~] |
| A.6 | Cap table / entity docs consistent | chief-legal-counsel | [~] |
| A.7 | Demo script (hub → LPD → apply → Winter trap-debt → marketplace) | COO | [x] see `docs/ops/DEMO_SCRIPT.md` |
| A.8 | One-pager: cash-flow path to profitability (honest losses Y1–4) | COO + CFO | [x] `docs/ops/CASH_FLOW_90_DAY.md` + operating model |
| A.9 | Risk narrative: learn on $1M pool before $25M facility | CRO + IR | [x] |
| A.10 | Compliance narrative: bank partner / license path (no license claim) | tradfi-defi-compliance | [ ] |
| A.11 | Partner target list (credit facility, insurance for Wage30, CRAs later) | COO | [ ] |
| A.12 | Data room access + registration works | IR | [ ] |

**Pitch go/no-go:** A.1–A.4 + A.9 + A.10 green; A.7 rehearsed.

---

## B. Ready to fund **live** beta loans (TrueTerm)

Goal: first real dollars out with controls; customer success + book survival.

### B1. Product & rails

| # | Item | Owner | Status |
|---|------|-------|--------|
| B1.1 | Apply → Clearask → Dual Look → manual UW (24h) path | CRO / eng | [x] |
| B1.2 | Product path **term vs pay-in 3/4/6** on decision package + tape | CRO / eng | [x] |
| B1.3 | E-sign before fund; no money until accept | compliance + eng | [x] |
| B1.4 | XRPL fund runbook (hot limits, dual control roadmap) | xrpl-lending-rails | [~] |
| B1.5 | Production KYC/AML (beyond demo SSN last-4) | compliance + CRO | [ ] |
| B1.6 | Disclosures (TILA, adverse action, privacy) counsel-reviewed | compliance | [ ] |
| B1.7 | Servicing: statements, autopay, portal status | CS + eng | [~] |

### B2. Underwriting (CRO)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B2.1 | Written UW SOP (ATR, purpose, decline codes) | CRO | [x] draft `docs/ops/risk/01_UW_SOP.md` |
| B2.2 | Decision package fields complete & stored | CRO | [x] |
| B2.3 | Second Look playbook + fraud flags | CRO | [~] in UW + fraud SOPs |
| B2.4 | Pay-in purpose match (job/marketplace) rules | CRO | [~] |
| B2.5 | Internal step-up policy (not customer-facing) | CRO | [x] documented |
| B2.6 | Kill-switch: pause originations if FPD/DQ breach | CRO + COO | [x] in UW SOP |
| B2.7 | Credit committee cadence (even if founder-only) | COO | [x] in COO skill + 90-day plan |

### B3. Fraud (CRO)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B3.1 | Fraud typology list (ID, synthetic, bust-out, wallet, collusion) | CRO | [x] `02_FRAUD_SOP.md` |
| B3.2 | Velocity / duplicate rules (email, device, wallet) | CRO + eng | [~] policy; eng TBD |
| B3.3 | Settlement address verification checklist | CRO + XRPL | [~] |
| B3.4 | First-payment default (FPD) watch week 1–4 | CRO + CS | [x] in fraud SOP |
| B3.5 | Incident log + freeze procedure | CRO | [x] draft |

### B4. Delinquency, charge-off, collections (CRO + CS)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B4.1 | DQ buckets 1–15 / 16–30 / 31–60 / 61–90 / 90–120 | CRO | [x] `03_DQ_COLLECTIONS.md` |
| B4.2 | Customer-success tone scripts (help → duty → consequence) | CS + CRO | [x] principles drafted |
| B4.3 | Hardship / restructure policy (only if ATR improves) | CRO | [x] draft |
| B4.4 | Charge-off day policy (e.g. 120 DPD) + GL treatment | CRO + CFO | [x] draft |
| B4.5 | Collections: internal vs agency; fee caps; compliance | CRO + counsel | [~] needs counsel |
| B4.6 | Recovery metrics on ops dashboard | CFO + COO | [ ] |

### B5. Credit bureaus (CRO)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B5.1 | Decide pilot: report now vs delay until Metro-2 ready | CRO | [~] checklist ready |
| B5.2 | CRA / service-bureau vendor shortlist | CRO | [ ] |
| B5.3 | Metro-2 field map from loan tape | CRO + CFO | [~] outline |
| B5.4 | Dispute / e-OSCAR process | CRO | [~] checklist |
| B5.5 | FCRA adverse action templates | compliance | [ ] |
| B5.6 | Counsel sign-off before first full file report | counsel | [ ] |

### B6. Capital, cash, tape (CFO + COO)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B6.1 | $1M product vs $1M pool bank accounts / books separated | CFO | [ ] |
| B6.2 | First-loss $250K reserved, not originated | CFO | [x] plan |
| B6.3 | Loan tape schema + events on every fund | CFO | [~] |
| B6.4 | Daily fund queue + reconciliation to XRPL | CFO + XRPL | [ ] |
| B6.5 | Weekly vintage / DQ review | CRO + CFO | [ ] |
| B6.6 | Monthly model vs actual (opex, originations, losses) | CFO | [ ] |
| B6.7 | Cash-flow target: **weeks to first positive operating month** defined | COO | [ ] |

### B7. Customer success (CS)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B7.1 | Fund welcome + first payment calendar | CS | [ ] |
| B7.2 | Autopay setup default path | CS + eng | [ ] |
| B7.3 | Winter attach for trap-debt customers | CS | [~] |
| B7.4 | Wage30 path when earning gap | CS | [ ] |
| B7.5 | Completion + Paid In Full Credit education (accurate) | CS | [ ] |
| B7.6 | CSAT/NPS or simple pulse after fund + after payoff | CS | [ ] |

### B8. Legal / licenses (compliance)

| # | Item | Owner | Status |
|---|------|-------|--------|
| B8.1 | Entity + authority to lend (bank partner vs state licenses) | counsel | [ ] |
| B8.2 | Privacy policy + terms live | counsel | [ ] |
| B8.3 | Marketing claims review (no guarantee / no license lie) | positioning + counsel | [ ] |
| B8.4 | Vendor DPAs (KYC, hosting, SMS) | counsel + COO | [ ] |

**Live fund go/no-go:** B1.5–B1.6, B2.1, B2.6, B3.1–B3.2, B4.1–B4.4, B6.1, B6.4, B8.1–B8.2 all green.  
**Soft beta (friends/family, limited $):** may proceed with labeled pilot + counsel memo on license path if B8.1 in flight — document risk.

---

## C. Path to positive cash flow (faster than peers)

**Principle:** Cash follows **completions and low early losses**, not originations vanity.

| Priority | Move | Why it accelerates cash |
|----------|------|-------------------------|
| 1 | Maximize **first-payment success** | Stops loss + collection cost |
| 2 | Starter **~$2.5K** tickets | Faster learn, lower max loss |
| 3 | Hold **OpEx ≤ $75K/mo** plan | Stretch product equity |
| 4 | **Equity book first** (CoF $0) | Every dollar of interest helps sooner |
| 5 | Selective **pay-in** for purpose-known jobs | Faster recycle of capital |
| 6 | Pause channels with high FPD/fraud | Stop cash hemorrhage |
| 7 | Facility only after gates | Cheap leverage only when risk known |
| 8 | Attach Wage30/Winter only when it **raises** repayment capacity | Multiplicative stack |

### 90-day cash milestones (fill in dates)

| Milestone | Target | Date |
|-----------|--------|------|
| Soft beta fund #1 | Tape + e-sign clean | ____ |
| 25 funded accounts | FPD < ___% | ____ |
| First vintage readable | DQ30 vs plan | ____ |
| OpEx cash-flow month (company) | Product P&L ≥ 0 *or* clear path | ____ |
| Book + OpEx combined narrative | For IC | ____ |

*Note: Lending books can show accounting losses while still building franchise value; define “positive cash flow” as **operating cash** (OpEx covered by revenue + controlled book) not “Y1 GAAP profit.”*

---

## D. Agent RACI (who to invoke)

| Workstream | Primary agent | Support |
|------------|---------------|---------|
| Risk / UW / fraud / DQ / CO / bureaus | **chief-risk-officer** | fintech-cfo, compliance |
| Launch ops / cash ramp / cadence | **chief-operating-officer** | all |
| Copy / differentiation | **positioning-copy-lead** | marketing-lead |
| Borrower success | **customer-success-credit** | CRO |
| Tape / model / proforma | **fintech-cfo** | CRO |
| Licenses / KYC / MSB | **tradfi-defi-compliance** | legal |
| Raise / data room | **investor-relations** | VC partner (adversarial review) |
| Settlement | **xrpl-lending-rails** | CRO fraud |
| Entities | **chief-legal-counsel** | IR |

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## E. Immediate next actions (suggested)

1. `/positioning-copy-lead` — full surface audit (0.6)  
2. `/chief-risk-officer` — draft UW SOP + fraud + DQ scripts into `docs/ops/risk/`  
3. `/chief-operating-officer` — fill 90-day cash milestones + demo script  
4. `/tradfi-defi-compliance` — license path one-pager for pitch (A.10)  
5. `/customer-success-credit` — fund welcome + FPD playbook  

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*Living document. Update status when agents ship process files. Not legal advice.*