Loan Information System

Topics: Loan, Debt, Mortgage loan Pages: 6 (1724 words) Published: October 13, 2014

System Proposal ----------------------------------------------------------------- i Chapter I: Introduction
Background of the Study ---------------------------------------------------------------- 1 Statement of the Problem ---------------------------------------------------------------- 2 Objectives of the Study ---------------------------------------------------------------- 3 Significance of the Study ---------------------------------------------------------------- 4 Scope and Limitation ---------------------------------------------------------------- 4 Chapter II: Methodology of the Study

Methodology ----------------------------------------------------------------- 5 Chapter III: Data Gathering Procedure and Output
Data Gathering Procedure -------------------------------------------------------------- 7 Chapter IV: The Existing System
Company Background ---------------------------------------------------------------- 8 Description of the System ---------------------------------------------------------------- 8 Data Flow Diagram ----------------------------------------------------------------- 9 Problem Areas ---------------------------------------------------------------- 9


Background of the Study
The advent of computer technology has rescued mankind from the dark ages imposed by non-availability of technological know-how and requisite skills for undertaking tasks. Today, technological force can be applied almost in all facet of human endeavour to beat down complexities with relative ease and achieve maximum productivity even faster. According to Mbam (2002), the application of computers to the various feature of human undertaking has improved those professions by reducing the time needed to accomplish a given task and maximizing productivity. Hence, there is a need for a computerized system that is competent in order to harness and manage the operation of any cooperative society with similar features necessary. Nowadays, most of the establishments have become modernized and well-developed when it comes to dealing their business matters. They use technologies to make their transactions fast, easy, and accurate in order to avoid waste of time and for the sake of safety and security. Furthermore, it also helps human to solve and understand complex problem and analysis such as people’s computational need especially to a business establishment or a corporation processing large amount of data and complex transactions. In addition, loan is one of the examples of a complex transaction because it is a critical business operation that deals with numerous accounts of different people and produce plenty and confidential files. It is also an arrangement wherein a lender lends money to a borrower and the borrower agrees to repay the money, usually along with interest at some future point in time. In Nigeria, a loan management system is being designed to automate the back office activities of financial institutions offering different types of loan. Their staffs will define the product types in customizing for loans according to its individual requirements and also assigns each product type to a product category and condition group. Its inherent risks, inconsistencies and errors associated with manual financial transactions and computations demands the use of automated system for simplicity of operation, accuracy and proven results (Igboji & Mbam, 2002). According to Ocay (2014), in Quezon City Polytechnic University Multi-Purpose Cooperative (QCPU-MPC), a group of researchers have developed a loan servicing and management system with kiosk and payment reminder via SMS alert that will be managing online by the admin and can be accessed by their members on the internet or on the kiosk near...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • information system Essay
  • Essay about Information Systems
  • Information Systems in Scm and Erp Essay
  • Essay on Marketing Information System
  • Human Resources Information System Essay
  • Accounting Information Systems: Protection Breached Essay
  • Essay on Information Systems Chapter 1 Review Questions 1-17

Become a StudyMode Member

Sign Up - It's Free