ALL IN ONE ONLINE LOAN APPLICATIONS(AOLA)

The all in one online loan applications(aola)online system that allow user or loan applicant to register and get loan from different financial registered loan providers Banks (Nmb, Crdb, Nbc) and other financial institution.

1. Loan Provider/Financial loan institution 1.1 Functional Requirements:

• Registration: o Loan providers register by filling in details like organization name, contact information, and registration number.
• Loan Package Management: o Ability to create and manage loan packages, specifying qualifications, interest rates, and duration for each package.
• Loan Application Processing: o View submitted loan applications. o Approve or reject applications based on the applicant's qualification and package terms. o Send notification via email/SMS to applicants regarding the status of their application (approved/rejected).
• Auto-Deduction System: o Implement an auto-deduction mechanism for employed applicants, directly debiting from their salary. o Integrate with other systems (e.g., bank accounts) to automate loan repayments.
• Dashboard: o Provide a dashboard for loan providers to manage loans, view statistics, track repayment status, and generate reports. 1.2 Non-Functional Requirements:
• Security: o Ensure data encryption for sensitive information. o Implement role-based access control.
• Scalability: o The system handle multiple loan providers and applicants efficiently.
• Usability: o The interface is user-friendly, especially for managing loan packages and viewing loan statuses.
• Reliability: o Ensure the system is reliable, with minimal downtime, especially for the auto-deduction feature.

2. Loan Applicant 2.1 Functional Requirements:

• Registration: o Allow loan applicants to register by providing personal information (name, ID number, employment status, etc.).
• Loan Selection: o Allow applicants to browse available loan packages from registered providers. o Provide filtering and sorting options based on interest rates, duration, and qualifications.
• Loan Application: o Guide applicants through the loan application process, collecting necessary documentation and information.
• Dashboard: o Provide a personal dashboard for applicants to view their loan status, repayment schedule, and payment history. o Allow applicants to download loan agreements and other related documents. 2.2 Non-Functional Requirements:
• Security: o Implement strong authentication mechanisms. o Encrypt sensitive information, such as ID numbers and financial details.
• Usability: o Design a simple and intuitive user interface for the loan application process.
• Scalability: o Ensure the system can handle a large number of users simultaneously.
• Reliability: o Guarantee reliable performance, especially for loan application submission and status tracking. 2.3 Technical Requirements:
• Frontend: o HTML, CSS, JavaScript for building user interfaces. o Frameworks like React.js or Vue.js for more dynamic features (optional).
• Backend: o PHP or Node.js for server-side logic. o MySQL or PostgreSQL for database management.
• APIs: o Integration with SMS and email services for notifications. o Integration with payroll systems for auto-deduction.
• Authentication: o Implement secure login and registration systems, possibly using JWT (JSON Web Tokens) or OAuth.
• Hosting: o Cloud hosting services like AWS, Azure, or DigitalOcean. 2.4 Development Considerations:
• Testing: o Perform unit, integration, and system testing to ensure the system functions as expected.
• Deployment: o Use CI/CD pipelines for smooth deployment and updates.
• Documentation: o Provide detailed documentation for both users and developers.