Loan Management System
Application will be built using industry standards / guidelines that will facilitate the coexistence and inter-changeability of multiple hardware and software technologies, tools, protocols, and interfaces.
The Functional requirements are set out for the following modules:
- Loan Application
- Loan Allocation
- Loan Disbursement
- Loan Database
- Loan Recovery
- Document Management System
- Communication Management
Loan Management System Functional Requirements Overview
Automation of Loan Application process and approval. Enable Applicants registration and submitting applications (Online & Offline). Educational Institution Officials will manage, process and track the loans application information flow and implement issuance or approval of loans to all applicants.
Automation of Loan Allocation processing & Approval ( Evaluation of applicants, shortlisting using embedded Means test/scoring tool, allocation of the loan amount and approval of shortlisting & amount)
Automation of Loan Disbursement process is to ensure timely payment of student bursaries and tuition fees. Loan Disbursements shall be made by funds transfer to the University account on behalf of the student.
Loan Management System Functional Overview
Enables communication between the students and Educational Institution(e-Mail notification to candidates upon the submission of application, e-Mail notification from Educational Institution to Students at all levels of loan services, online status update , track students info to Educational Institution, e-Mail notification of amount due etc.. )
Document Management software to eliminate the manual loan file management processes and automates entire manual file management process from start to finish. It provides a clear portrait of current and archived loan document activity.
Disaster Recovery Solution
Disaster recovery solution to protect the ISLMFS infrastructure, data redundancy and provides business continuity during planned or unplanned event.