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Development Of Document Routing System Online Application And Approval Of Loan
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1.2 STATEMENT OF THE PROBLEM
The manual system involves storage of paper files, recording on kalamazoo forms and the cumbersome computations of numerical quantities.
Having colobrated to an extent what the manual sytem entails and depicts, we can call look at the weakness of this system that we can trade off for some method that is more rewarding. The disadvantages of this system include duplication of files and records insecurity of data that can arise through fire, theft, sabotage, etc.
Apparently, there arises delay in processing. Data is difficult to retrieve due to bureaucracy.
Computation of numerical quantities could be cumbersome and error prone since they are done by humans.
Data mutilation may arise as files move from one hand to the other in the department. All this problems have risen and are still playing in the organizations still using the manual system.
Hence, in identifying these problems, I was able to clarify the new systems objective and users, desire outputs, and desired processing.
1.3 Objectives of study (elimination of manual loan program)
The objectives of this research is to develop a system that will
Eliminate manual loan program
To make it easy for applicants to apply for loans from the comfort of their home and also from any location in the country.
To enable online approval of loan.
Make it easy for grouping of applicants to their respective categories they fall under.
1.4 Significance of study
Viewing critically the inefficiencies in the manual loan system presently in Accion MFB, the need to develop online loan approval that will handle such inefficiencies cannot be over emphasized.
1.5 Scope of study (The computerized system)
Due to the complexities and rigors that assail the manual system, the computerized system is used to solve our manual loan problems. It was improved to be a great improvement on the manual system. The computer system is the series of programs, which will be used to process the data available with an aim to solve the problems at hand. It is designed to curtail the ineffectiveness inherent in the old system (manual system). It is an improvement or manual system because it takes care of the problems encountered by the manual system.
1.6 LIMITATION OF STUDY
I encountered numbers of constraints that made this research difficult to get beyond this scope. This constraints includes:
1. Length of time for development
2. Integration of existing services
3. Inadequate data supply by the bank
4. Lack of good internet connection
1.7 Definition of terms Document routing system:
Document routing is a manual process subject to all the traditional business problems. Documents get lost, there is no personnel accountability and it takes way too long. An attempt to determine its status is the definition of absolute inefficiency. The Document Routing System (DRS) provides automated document routing to the user.
Document tracking system: This keeps track of who is responsible for the file, who has it at any given time, when it is due to arrive at the next step in the process, and whether it is overdue in arriving there.
Loan: Money lent at interest, something lent for the borrower's temporary use.
Lend: To give for temporary use on condition that the same or its equivalent be returned. To give the assistance or support of afford furnish ‹a dispassionate and scholarly manner which great force to his criticisms — to adapt or apply (oneself) readily accommodate ‹a topic that itself admirably to class discussion.
Automation: The replacement of human workers by technology. A system in which a workplace or process has been converted to one that replaced or ministries human labour with electronic or mechanical equipment.
Online: connected via computer attached to or available via a computer or computer network.
Database: Any collection of data organized for storage in a computer memory and designed for easy access by authorized users.
Database update: This simply means applying and maintaining changes on a database after data must have been added, removed or modified.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACTAn online loan website would allow AccionMFB to access online application, website, application information from any convenient location, using a single user ID and password. They would be able to do transactions online. The central goal of this initiative is to transform the day-to-day operations of the Bank by reducing paperwork; putting information services and transaction online; streamlining access to information, applicants results and content. Making it easy for applicant’s ... Continue reading---
