ONLINE LENDING SYSTEM

RES-100

Marqueses, Jann Marius Padilla, Elyza Elaine Tongco, Gilberto

Prof. Mon Rodriguez

CHAPTER I INTRODUCTION When you say online system, its a system where data are entered into a device, such as a terminal, that is connected directly to a computer. The user can interact with the computer through a terminal and of course, provided with an internet connection. Nowadays, people intend to use such system which can be online or offline, for the beneficiary of ones business or company. And one of those many systems is the Lending System. Lending System is basically a system that manages the financial aspects of ones company, specifically the loans of the customers. Many companies today decide to implement this scheme so that the progress of the company will be always present. The Lending System stores electronic data and can be retrieved quickly using search queries within the system. These online systems have the advantage of being able to be accessed from anywhere in the world and allows for the fast transfer of documents. With these new and effective methods, the team has proposed a system to the client for a better solution or an improvement regarding with their business: Lending. The clients current system is using a manual filing and transferring of records and information which is prone to slow data retrieval and reports production. Meanwhile, their loan processing is time-consuming too, since they have to go back and forth the office to submit such requirements and to have interviews to continue with their loan.

And before they could finally get their loan, the customers have to pass certain qualifications for the loan conditions of the client. Every transaction is written down to a logbook, which is the main source of their information regarding their business progress. It is all about paper works which on the mean time is not that reliable anymore when it comes to it security and consistency. With the Proposed System, the team put into consideration the changes that should be made in order to have an efficient system with the business. The proposed system is an online Lending System: with a database and website. With the proposed systems automation process the client will not be having a hard time anymore in acquiring their figures on certain dates and tally expected income within the day. It will also gain more progress and assurance in terms of its functionalities, especially in retrieving the customers data. And regarding with the security and consistency of the customers records, the system will also guarantee that it will prevent data loses since only the employees and administrator can access the database and the customers account through the website would be secured with a password.

I. Objectives
1. To create a Web-based Online Lending System. 2. To maintain the data of the customer/clients intact and not prone to

loss in terms of a higher security of the business information/records of the customers.

3. To have an easy tally of the total earnings for a specific date/time to

see if the business is really profiting or not.

4. To make the business more accepted and trendy and acquire more

capable customers with the use of the Web-based system.

II. Scope With the gathered information of the team through researching, the team has come up with the scope of the proposed system. The main function of the system is to let the user add, edit, delete and view customers information regarding their loans. For the user (employee) the system will be able to keep track of every loan transaction that will occur. This means that, at the end of the day the system will have the total tally of the business earnings which is all accurate. This will help them to know the progress that theyve been made in terms of their business production. In terms of the website, where security issues would be a factor, the team has decided to make a password-enable profile to each employee and customer. So that it will prevent false and unnecessary accounts. And since the system is web-based, the business ease of access would increase because the customers can almost immediately process their loan request thru the website. This will make the customers save their time by not going back and forth the office in requesting for their loan and with also the use of website they can directly know if their loan application has been granted or not.

III. Significance With the proposed system, the clients business will be more efficient in terms of processing loan requests. The system will also create more working space and less clutter as they will no longer have to hold large paper file archives. It will also help the clients to reduce the amount of their time spent in managing the customers data since the proposed system will give them the capability to analyze their records in a variety of ways. The proposed system will also promote a good discipline approach to data management which will also improve the consistency and reliable figures and information of their customers, especially with their payments due dates. On the other hand, the proposed system will also make sure to inform the clients regarding their earnings, to see if the business is really profiting or not. The website will allow the customers to view their records and other information about their loans online. With the use of the website, people from different places can be able to inquire about the offered services by the company and eventually can become a potential customer in the future. One of the many beneficiaries of the client is that the proposed system will help them to be more organize in terms of data management especially with the loaned amounts of the customers. The proposed system will also make it easier for them to manage the business since its already automated and will make the use of time more efficient. Though there would be a lot of changes in the way of the everyday transactions, it will all be handled as soon as the users were all familiarized with the new system.

And for the customers, the easy access of the business will make their effort and time be saved accordingly. Since they can send loan request through the website, this will create a friendly and useful communication between the client and the customers. With also the use of the website, they can be updated with the services offered by the business and in terms of their payments due dates.