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Design and Implementation of a Computerized System for Automated Loan Lending

Design and Implementation of a Computerized System for Automated Loan Lending

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Reference ID: PS-4989-TM

DEDICATION

This research material titled “Design and Implementation of a Computerized System for Automated Loan Lending” is dedicated to God for his enabling grace, and to all computer enthusiasts who contributed to make life a pleasant experience during my research documentation.

ACKNOWLEDGEMENT

I extend my sincere gratitude to all those who contributed to the completion of this project. Special thanks to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Computer Science (CS), Book Authors and Profound Scholars of existing or related project material on “Design and Implementation of a Computerized System for Automated Loan Lending” for their invaluable guidance, support, and expertise throughout the journey.

I am also grateful to your study area (mention any funding organizations, if applicable) for their financial assistance. This research would not have been possible without the encouragement and assistance of some stakeholders (mention any mentors, teachers, or colleagues). Additionally, I would like to acknowledge the understanding and patience of my family and friends during this endeavor. Your unwavering support has been a constant source of motivation. Thank you all for being part of this meaningful endeavor.


Design and Implementation of a Computerized System for Automated Loan Lending

TABLE OF CONTENTS

PRELIMINARY PAGES


CHAPTER ONE

INTRODUCTION

  • 1.1 Introduction
  • 1.2 Background of Study
  • 1.3 Statement of Problem
  • 1.4 Aim and Objectives of the Study
  • 1.5 Scope of the Study
  • 1.6 Limitations of the study
  • 1.7 Significance of the study
  • 1.8 Organization of the Research
  • 1.9 Definition of Terms

CHAPTER TWO

LITERATURE REVIEW

  • 2.1 Introduction
  • 2.2 Concept of Loan Management
  • 2.2.1 Personal loan
  • 2.2.2 Unsecured Loans
  • 2.2.3 Loan Demand
  • 2.2.4 Subsidized Loan
  • 2.2.5 Concessional Loan
  • 2.2.6 Target markets Loan
  • 2.3 Advantages and Disadvantages of a Loan
  • 2.4 Types of Loan
  • 2.5 Concept of Loan Lending
  • 2.5 Benefits of Borrowing a Loan
  • 2.6 Brief History Of Lending
  • 2.7 Theoretical Framework
  • 2.8 Loan Application Process
  • 2.8.1 Loan Application
  • 2.9 Areas of Obtaining a Personal Loan

CHAPTER THREE

SYSTEM ANALYSIS AND DESIGN

  • 3.1 Methodology Adopted
  • 3.2 Process for Analysis for SSADM & SSADM Technique
  • 3.3 Analysis of the Existing System
  • 3.3.1 Diagram of the Existing System
  • 3.3.2 Weakness of the existing System
  • 3.4 Analysis of the Proposed System
  • 3.4.1 Advantages of the Proposed System
  • 3.5 Justification of the Proposed System
  • 3.6 High Level Model of the Proposed System

CHAPTER FOUR

SYSTEM DESIGN AND IMPLEMENTATION

  • 4.1 Objectives of the Design
  • 4.2 Control Center / Overall Dataflow Diagram
  • 4.3 The Submenus / Subsystems
  • 4.4 System Specification
  • 4.4.1 Database Design Specification
  • 4.4.2 Input and Output Format
  • 4.4.2 Algorithm
  • 4.4.3 Data Dictionary
  • 4.5 System Flow
  • 4.6 System Implementation
  • 4.6.1 Proposed System Requirement
  • 4.7.1.1 Hardware Requirements
  • 4.7.1.2 Software Requirements
  • 4.7.2 Program Development
  • 4.7.2.1 Choice of programming environment
  • 4.7.3 System Testing
  • 4.7.3.1 Test Plan
  • 4.7.3.2 Test Data
  • 4.7.3.3 Actual test Result Versus Expected Test Result
  • 4.7.3.4 Performance Evaluation
  • 4.7.3.5 Limitation of the System
  • 4.7.4 System Security
  • 4.7.5 Training
  • 4.7.6 Documentation
  • 4.7.7 System Conversion
  • 4.7.7.1 Changeover Procedure
  • 4.7.7.2 Recommended Procedure

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • 5.3.1 Application Areas
  • 5.3.2 Suggestion for Further Research

REFERENCES

APPENDIX A - "SOURCE CODE"

APPENDIX B - "OBJECT PROGRAM"

ABSTRACT

Loan Lending is the principal business activity for most commercial banks. The loan portfolio is typically the largest asset and the predominate source of revenue. Many banks do not have an automated system specifically to manage loan lending information. This situation makes it difficult to instantly confirm loan information or get reports when needed. To solve this problem, a loan lending management system is needed to aid the easy capturing and updating of loan information of customers and verification of loan lending records. The aim of the study is to develop a loan lending record management system The following are the objectives of the study which is to develop a system that will; aid registration of loan records, serve a s a database of loan records, and facilitate easy retrieval of loan records. The methodology adopted in this study is the structure system analysis and design methodology (SSADM) which is a technical approach for analyzing and designing an application or system by applying object oriented programming as well as visual modeling throughout the software development. The programming language used is HTML, CSS, JAVASCRIPT, PHP, SQL and JQUERY. The reason why web programming languages was used is because, it is platform independent and it is a web based application. Based on the findings of this study, recommendations made are that constant monitoring of the activities with the designated automated loan lending management software application, it is necessary to determine their level of compliance while adequate training should be provided for the recruitment of staff to enhance their efficiency and productivity.


Design and Implementation of a Computerized System for Automated Loan Lending

CHAPTER ONE

1.1 Introduction

Lending is the principal business activity for most commercial banks. The loan portfolio is typically the largest asset and the predominate source of revenue. As such, it is one of the greatest sources of risk to a bank’s safety and soundness. Whether due to lax credit standards, poor portfolio risk management, or weakness in the economy, loan portfolio problems have historically been the major cause of bank losses and failures. Effective management of the loan portfolio and the credit function is fundamental to a bank’s safety and soundness. Loan portfolio management (LPM) is the process by which risks that are inherent in the credit process are managed and controlled. Because review of the LPM process is so important, it is a primary supervisory activity. Assessing LPM involves evaluating the steps bank management takes to identify and control risk throughout the credit process. The assessment focuses on what management does to identify issues before they become problems. This booklet, written for the benefit of both examiners and bankers, discusses the elements of an effective LPM process. It emphasizes that the identification and management of risk among groups of loans may be at least as important as the risk inherent in individual loans. For decades, good loan portfolio managers have concentrated most of their effort on prudently approving loans and carefully monitoring loan performance. Although these activities continue to be mainstays of loan portfolio management, analysis of past credit problems, such as those associated with oil and gas lending, agricultural lending, and commercial real estate lending in the 1980s, has made it clear that portfolio managers should do more. Traditional practices rely too much on trailing indicators of credit quality such as delinquency, non-accrual, and risk rating trends. Banks have found that these indicators do not provide sufficient lead time for corrective action when there is a systemic increase in risk. credit risk profile and with more tools to analyze and control the risk


1.2 Background of Study

A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. In a loan, the borrower initially receives or borrows an amount of money, called the principal, from the lender, and is obligated to pay back or repay an equal amount of money to the lender at a later time. Typically, the money is paid back in regular installments, or partial repayments; in an annuity, each installment is the same amount. The loan is generally provided at a cost, referred to as interest on the debt, which provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice any material object might be lent. Acting as a provider of loans is one of the principal tasks for financial institutions. For other institutions, issuing of debt contracts such as bonds is a typical source of funding.


1.3 Statement of Problem

Many banks do not have an automated system specifically to manage loan lending information. This situation makes it difficult to instantly confirm loan information or get reports when needed. To solve this problem, a loan lending management system is needed to aid the easy capturing and updating of loan information of customers and verification of loan lending records.


1.4 Aim and Objectives of the Study

The aim of the study is to develop a loan lending record management system The following are the objectives of the study;

  1. To develop a system that will aid registration of loan records
  2. To develop a system that will serve a s a database of loan records
  3. To develop a system that will facilitate easy retrieval of loan records

1.5 Scope of the Study

This study covers automated loan lending management system using Akwa Savings and loans, Ikot Ekpene as a case study.


1.6 Limitations of the Study

During the course of this study, many things militated against its completion, some of which are:

  1. Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
  2. Establishment Policies: Establishment policies posed a serious limitation as most staffs are not ready to release information needed for this project work. There were lots of information needed from the staffs of this institution to enhance the study which took them time to release or they did not release at all for security purposes, hence the scope was reduced.
  3. Research material: availability of research material is a major setback to the scope of the study.
  4. Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.

1.7 Significance of the study

The following are the relevance of the research work:

  1. It will provide an automated system that will aid the easy recording of loan lending information.
  2. It will serve as a management information system.
  3. The study will also serve as a useful reference material to other researchers seeking for information pertaining the study.

1.8 Organization of the Research

This research work is organized into five chapters.

Chapter one is concerned with the introduction of the research study and it presents the preliminaries, theoretical background, statement of the problem, aim and objectives of the study, significance of the study, scope of the study, organization of the research and definition of terms.

Chapter two focuses on the literature review, the contributions of other scholars on the subject matter is discussed.

Chapter three is concerned with the system analysis and design. It analyzes the present system to identify the problems and provides information on the advantages and disadvantages of the proposed system. The system design is also presented in this chapter.

Chapter four presents the system implementation and documentation. The choice of programming language, analysis of modules, choice of programming language and system requirements for implementation.

Chapter five focuses on the summary, conclusion and recommendations are provided in this chapter based on the study carried out.


1.9 Definition of Terms

Debt: An amount of money, a service, or an item of property that is owed to somebody

Loan: An amount of money given to somebody on the condition that it will be paid back later.

Lending: To allow a person or business to use a sum of money for a particular period of time, usually on condition that a charge interest is paid in return

Guarantor: Somebody who gives a guarantee, especially a formal promise to be responsible for somebody else’s debts or obligations.

CHAPTER TWO

2.0 Literature Review

2.1 Introduction

This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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