Development of a Secure, Scalable Web-Based Loan Application Processing Platform

The client faces difficulties with a monolithic, license-dependent loan processing system that hampers scalability, real-time data updates, and operational efficiency across multiple branches. Additionally, integration with multiple third-party services and legacy data management pose significant challenges in ensuring secure and reliable operations.

A large, established financial institution specializing in home loans, seeking to modernize and centralize their loan management processes across multiple branches.

• Implement a secure, fast, and user-friendly web-based loan management platform accessible across all branches.
• Transition from a monolithic, per-user license system to a centralized proprietary solution to reduce operational costs.
• Automate real-time data synchronization and communication with third-party services such as credit bureaus, SMS, and email providers.
• Ensure the system seamlessly integrates with existing legacy datasets and supports the ongoing business processes.
• Design a robust, scalable infrastructure based on microservice architecture to support high availability and reliability.
• Deliver a system capable of comprehensive reporting, role-based access control, and managing end-to-end loan application workflows.

• User onboarding and lead tracking functionality.
• Application form management and automated status updates via SMS and Email.
• Creation and management of loan accounts with detailed processing states.
• Role-based access control for different user levels and responsibilities.
• A dynamic dashboard tailored based on user roles.
• Comprehensive reporting tools and credit report integration.
• Third-party API integration for credit checks and loan validation processes.
• Tracking and updating previous loan information to inform current decisions.

• Third-party credit bureaus and loan validation services
• Communication gateways for SMS and Email (e.g., SendGrid)
• Payment and credit processing systems

• High system availability with minimal latency to ensure real-time updates
• Secure data handling with encryption and role-based access
• Scalability to support increasing user load across multiple branches
• Automated testing and continuous deployment pipelines to ensure bug-free releases

The new loan processing platform is expected to enhance operational efficiency by enabling real-time data updates and reducing dependency on external licenses, resulting in significant cost savings. It aims to support seamless multi-branch operations, improve user experience, and provide comprehensive reporting capabilities, ultimately leading to better decision-making, faster loan approvals, and increased customer satisfaction.