Abstract
In the past few years, much activity has been carried out in developing the Web-Service based, bank Application system. The important work performed by this system is the optimization and enhancement of the existing system. The bank uses a different technology for maintaining the loan of the customer; it uses the MySQL database for storing the data and other specific software for the loan service process. The security of the client’s information during the transaction is of prime importance. The credit risk is analyzed by the system before approval of the loan, apart from these different factors influence the asset structure of the bank. Spring boot is used to develop the loan service application. Postman is used to get the response. The loan servicing application provides the Customer with complete information about the process of loan and its management as mentioned in this paper.
Highlights
Earlier loan service was traditionally given by big banks but nowadays even smaller bank gives loan
The bank doubts about the repayment the loan by the customer i.e., there is a credit risk associated with the loan process [2].Loan servicing refers to the organizational function of a bank, which keeps the record of a loan from the time of issue to the client until its repayment
Security is an important step in any online service application
Summary
Earlier loan service was traditionally given by big banks but nowadays even smaller bank gives loan. The bank doubts about the repayment the loan by the customer i.e., there is a credit risk associated with the loan process [2].Loan servicing refers to the organizational function of a bank, which keeps the record of a loan from the time of issue to the client until its repayment. Data privacy, customer trust, and long term growth all depends on security of the financial application For this reason any financial organization or the bank which provides the loan has to develop astrong security system [3]. The loan servicing part of the bank was separated from origination and opened up to the market It gives the record-keeping burden of loan servicing and the changing habits and expectations of borrowers, to the company which uses software like loan servicing application to solve the problem in the issue of loan and its repayment.
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