Bestows Tree project is a banking related project which can create transparency on loan system between customer, loan agency and banks. In present banking system banks are interlinked with a agencies which will look after basic work on loan system. Customers should submit application to agencies to approve any loan from a respective bank. These agencies will verify customer details and if it is fills the needs of a bank they will approve and send it to bank for loan approval..
This application Lending Tree is an online based application through which customers can submit information to agencies for verification. Agencies can update status of the applications through online using features like approved, rejected, and pending. Using this application can reduce time and work for customers as well as agencies. Agencies can check pending files through online and move files to respective branches. By developing this application transparency of system can be improved.
Through this online application customer can submit loan application to interested banks from the available list. At the same time application is submitted to loan agency who will have three departments-Pick-Up, Verification and Legal. Administrator module will maintain entire application. Initially application is moved to pickup department, agents will be sent to customer for verification on documents. Agent will submit collected documents to verification department by attaching them using online application and here entire customer details are verified and then forward this application with verified status. Legal module will verify submitted details with builders and if the information is genuine application is forwarded to administrator.
The administrator or final approving authority views both types of reports, Viz, the reports from verification department and the report legal department. This will help him to take a decision regarding whether to forward it to the bank or not. The same is communicated to the customer.
Final decision will be taken by administrator who will cross check all the submitted reports of the application and if he is satisfied he will submit application to bank with crosschecked documents. Then application status will be informed to customer.
This entire process is done through this application .User can contact or verify his loan application status on his account.
download paper presentation,Project Report of CSE Bestows Tree Online Loan Agency System a Java Project.