On May 16, Shuidi Fundraising held the fourth “Openness, Transparency, Gathering Trust” user open day. Fundraising users and donor user representatives were invited to discuss user concerns such as how to improve fundraising efficiency and ensure the authenticity of fundraising cases. On the basis of listening to users' opinions, Water Drop Fundraising released the “Protection Plan” on site. The whole process enhances the fundraising experience and better helps patients and families in financial difficulties at the four major levels of fundraising efficiency, flow support, financial security, and review and upgrade.

Shen Peng, founder, chairman and CEO of Shuidi Company, said, “In the eight years since we started our business, we value the suggestions and feedback of every user, because it is our original intention and mission since the beginning of our business because we serve users well, use Internet technology to help promote health care for the masses, and protect hundreds of millions of families. To this day, Water Drop Funding is still committed to using the power of technology and innovation to help families with major illnesses get out of trouble and ensure that every love is not let down.”

Open a green channel for fast disbursements, and advance payment on the platform to improve fund-raising and rescue efficiency

“The child became ill. The hospital was already in arrears at the time. After the payment was overdue, the medication was stopped. He died suddenly at the hospital at the time. Because I was fundraising at Shuidi Fundraising, I consulted a fundraising consultant, and later helped apply for an express withdrawal channel. The money arrived in no time, and all of a sudden I let go of my worries.” Fundraiser Xia Li (pseudonym) from Hebei shared this urgent withdrawal experience with everyone on site. In order to improve fundraising efficiency and solve the urgent needs of families with major illnesses, Water Drop Funding has upgraded the withdrawal process and launched the “Fast Payment Green Channel”. When fundraising patients face an emergency situation of entering the ICU or in urgent need of major surgery or organ transplantation, they only need to submit a corresponding certificate to the platform to directly initiate a withdrawal application. After passing the review, the platform will advance payment to the patient and receive the account within 1 hour to ensure that patients do not delay treatment due to cost issues.

Since the launch of this function, the withdrawal time has been greatly shortened for patients in urgent need of assistance, so that the funds raised can reach patients in the shortest possible time and be used for medical treatment. According to Water Drop Funding data, on average, 186 fundraising patients apply to use the “Fast Payment Green Channel” every year. Treatment costs are prepaid by the platform, of which the maximum amount for a single advance payment is 390,000 yuan.

1 billion charity traffic support and charity subsidies for special hardship cases

At the user open day, fundraiser Li Yu (pseudonym) raised her own question: “My brother works abroad and has a brain hemorrhage because the family itself is a low-income family. After initiating fundraising, we can only share our circle of friends. All familiar people donate to us, and the amount of money we can raise is limited. What should we do?”

Figure: User Open Day Live Fundraising User Representative Speaks

Personal online help platforms have certain resource advantages in mobilizing donations from strangers. According to Water Drop Funding data, 64% of the amount raised comes from donations from strangers. In order to help raise funds more efficiently, Water Drop Fundraising has also made relevant upgrades in the “Protection Plan”. Water Drop Fundraising will invest 1 billion dollars in traffic support every year, and expand fundraising channels through short videos, caring websites, mini programs, etc., increase traffic support efforts, and help needy township patients raise funds efficiently. At the same time, fund-raising consultancy services have been upgraded to assist patients to collect medical certificates, quickly complete reviews, and provide services such as consultation, mental health counseling, rescue fund applications, and emergency errands.

Zhai Yu, head of the Water Drop Funding business, also said on the scene: “After eight years of experience in major illness services, special hardship families have always been the key support targets of Shuidai Funding. The platform will waive service fees for special hardship cases in Wubao and provide caring subsidies to patients in accidents and major accidents. We hope to help them better cope with the sudden illness crisis through such measures.”

Upgrade technical review capabilities and introduce a public reporting mechanism to ensure that fundraising is real and reasonable

In order to reduce the cost of social trust and enhance transparency, Shuidi Funding's “Guardianship Plan” upgraded technical review capabilities, set up a 100-person review team to conduct multiple reviews through “technology+labor”, etc., and set up a professional medical team to build a database of major diseases, quickly evaluate the scope of treatment expenses, and recommend a reasonable fundraising target amount.

Figure: User Donor User Representatives Speak at the User Open Day

Donor Li Si (pseudonym) is a nursing mom. She said, “My donations are mostly for children. Mainly, I also have children myself. The certification of family and friends on the Water Drop Funding page will make me feel more at ease and trust when donating.” In order to enhance users' sense of trust, Water Drop Funding has established a mechanism for public reporting, supervision, inspection and processing to ensure that the public supervises the entire fund-raising process and jointly guarantees the truth and rationality of the case. According to Water Drop Fundraising data, in the past year, the platform blocked and rejected a total of 2,838 fundraising applications that did not meet the requirements. Of these, 1,191 illegal fundraising users were blacklisted by the platform, and it was prohibited to launch fundraising again.

Zhai Yu, head of the Water Drop Fundraising business, stressed, “Truth is the foundation of trust. Since the link to the fundraising page is spread on the social networks of patients' acquaintances, we also hope that the public can monitor together on the basis of continuously improving the platform's review capabilities, so that people who really need help can be helped.”

Manage special accounts for fund-raising funds and introduce special audits to ensure the safety and transparency of funds

In order to ensure the safety and transparency of funds, Shuidi Finance and Ping An Bank reached a fund deposit agreement. Users' donations are completely isolated from Shuidi Capital's own funds, and third-party accounting firms are introduced to conduct independent audits to regularly publicize Shuidi Finance's financial and fund management information to ensure the safe flow of funds.

At the same time, Shuidi Funding recruits “platform supervisors” from the public to regularly spot check the details of all expenses of Waterdrop Funding to enhance the transparency of the platform's funds in all aspects. In addition, Water Drop Fundraising also has a refund process. If the fundraising patient voluntarily initiates a refund due to illness recovery, ineffective treatment, etc., the amount raised can be refunded to the donor in equal proportions. According to Water Drop Fundraising data, 6,213 fundraisers initiated refunds in the past year, and a total of 9.87 million yuan of donations were returned to 678,000 caring people.