Creation of Loan Automation Application

Adewale O Adebayo, Aibangbee Z

Abstract

A business objective of providing efficient loan process using technology as an enabler in order to give the company a competitive advantage within the industry suggests automation. Although a number of lenders have a certain kind of technology infused into their loan processing system, there are noticeable insufficiencies. Finding a guide to the design and creation of a loan automation system is also elusive. There is therefore the need for the creation of a loan automation application which this research addressed. Design and creation research strategy was adopted and data collection was through existing documents and structured interviews. Waterfall software development method was adopted. The outcome provides a loan automation application that saves paper works throughout the life of the loan, and its design is also available as a contributory guide towards creation of similar system