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Automated Loan Application Processing System for mBanc

limestonedigital.com

Financial services

Challenges in Manual Loan Processing

mBanc struggled with manual processing of millions of monthly loan applications, leading to inefficiencies, scalability issues, and poor user experience. Previous vendor solutions failed to meet operational demands.

About the Client

Nonqualified loan provider offering alternative lending solutions for applicants who do not qualify for traditional loans

Automation and Scalability Goals

Automate end-to-end loan application processing
Reduce manual intervention in document verification and credit scoring
Scale system capacity to handle millions of monthly applications
Enhance user experience through intuitive UI/UX design

Core System Functionalities

Dynamic online questionnaire for loan eligibility
Secure document upload and verification system
Real-time credit score calculation engine
Application status tracking portal
Third-party API integrations for financial data retrieval

Technology Stack

ASP.NET

React.js

External System Integrations

Banking APIs for financial statement retrieval
Third-party credit scoring services
Customer relationship management (CRM) systems

System Performance Requirements

High scalability to handle peak application volumes
Data encryption and compliance with financial regulations
Low-latency response times for real-time calculations
System redundancy and fault tolerance

Expected Business Impact

Automated processing will reduce manual workload by 70%, increase application throughput to millions monthly, improve customer satisfaction through faster decisions, and enable mBanc to expand market share in alternative lending.