Design And Implementation Of A Computerized Loan Disbursement Control System

Project and Seminar Material for Computer Science and Computer Engineering

Design And Implementation Of A Computerized Loan Disbursement Control System


Chapter One


1.0 Introduction

Loan management has over the years been posing great problems to banks and other smaller financial institutions that embark on loan. One of the major bank services is loan disbursement. Loans are given to customers in order to help them embank on one project assignment or the other. Depending on the loans terms, the loan beneficiary pays back the loan on commission basis. Before a bank issues out a loan it follows a bank laid down criteria on loan disbursement.

So many banks have fielded up due to problems associates with loan disbursement. This arises from the fact that the sxisting system used in loan monitoring is a failure. The system operates without adequate loan monitoring. There should be strictness in handling loan disbursement because; in many cases the capital involved is people money and not individual capital.

This project work carriedout a detailed analysis into the problems making loan management unrealizable with a view to devicing acceptable computerized system, which will be more effective, accurate comprehensive, reliable and very easy to use. This, to a very large sentient, will help the generation banks to make their work procedure very enjoying and result oriented.


1.1 Statement of the Problem

Problems associated with loans are numerous, this makes the current system a very big failure record of loan beneficiaries are not well maintained and this makes banks to loose a lot of money.

Interest-rates on loans are not calculated due to non-consistency in the format of calculation, data on loan repayment by installment are not always effectively administered due to the existing system on ground.

On many occasions, loans are given to wrong people due to the fact that their oriteria for issuing loans are not followed the way it should be followed. There is no no-line method of entering and up-dating for effective records maintenance.


1.2 Aims and Objectives of the Study

This study is aimed at improving loan management with a view to making banks and the customers to both benefit mutually from the transaction.

The research is carried out in order to provides accurate and timely report for effective decision making. This research will also provide adequate disbursement of loan between the beneficiaries are the bank and make calculations easily carried out. The study will produce timely up-dated status of a loan beneficiary. This research will come out with a well-defined computerized system, which will be very comprehensive, accurate, timely and cost effective.


1.3 Importance or Significance of the Study

This research study is of great importance to the entire society. The society will benefit much from this study such that, it will help and make their disbursement with the bank more understood and well calculated.

Because of how the system is well defined, people will benefit, whereby there will be no manipulations o miscalculations. Scholars in related field will benefit from the detailed contents of this reseaech work. It will help the bank a let in spending less in the area of loan control system or management.


1.4 Scope of the Study

The study focuses on the design and implementation of a computerized loan disbursement control system for the Union Bank of Nigeria Plc located at Garden Avenue Enugu.


1.5 Limitation

This research work is limited to Union Bank of Nigeria Plc Enugu. Most of the limitations encountered while carrying out this work include;

Time:

The time limit given for the work is very short. Most of the things done in respect of it were done in a rusty manner. Normal academic activities were going on in earnest during this project work..

Money:

This was one of the limitations in the sense that transporting to the place every day in the course of carrying this research work effectively was so difficult.

Human:

The manager of union Bank of Nigeria Plc Enugu and some other personalities some times were not disposed to attend to the questions.


1.6 Assumptions

It is assumed that, this research work if fully implemented, will to a very large extent help this new generation banks in particular to guard their loan policy thereby freeing them from the distressed that characterize the present day banking industry.


1.7 Definition of Terms

Bank:

This is an organization or a place that provides a financial service.

Disbursement:

This is the action of paying out money especially from a fund collected for a purpose.

Loan Beneficiary:

This is a person who gains benefits from loan.

Interest:

This is the money charged for borrowing money or paid to somebody who invests money.

Loan Status:

This is a social or legal position of loan in relation to people.

Information:

These are facts told, heard or discovered about something.

Records Bank:

This is a permanent account, especially a document on computer pof bank facts and event.

Follow-Up:

This is an action or a thing that continues on exports what has already been started.

Computerize:

This means to provide a computerized to do the work of or for something. This is doing a manual work with a computer system.

Computer:

This is an electronic device for storing processing and producing information. It accepts data as input, processes it, and produces the result as an output.


Chapter Seven


7.0 Conclusions and Recommendation

7.1 Conclusion

Loan management is very import to the bank and also to the society.

The banks and the customer benefit a lot from the services of loan. It is an any society. Individual groups, private companies and government establishment in one time or another needs loan for one project or the other. Loan is quite important in every society.

The method and mde of handling loan services matters a lot to the banks and society in general. If a bank mismanages loan, it affects it adversely and sometimes may lead to the bank folding up. The problems of loan mis-management arise form poor loan recants maintenance and trading of loan management and monitoring.

The new system is computerized and it takes all the problems associated with the existing system of loan disbursement. The new system is friendly, comprehensive, accurate and very reliable.


7.2 Recommendation

The Union bank should immediately implement the new design and allow it to run parallel with the existing system of loan disbursement and monitoring.

The workers of the bank should be well trained on computer system so that they all will appreciate the new system and operate it without causing damage to it.

The banks should disburse loan when due to the beneficiary so that they will start early to effect the loans looking forward to paying back the loan with interest.


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