Loan Policy 1
McBride Financial Services: Loan Department Policy CMGT441: Introduction to Information Systems Security
Loan Policy 2
TABLE OF CONTENTS INTRODUCTION..................................................................................................................... 3 CURRENT LOAN PROCESS................................................................................................. 3 CURRENT SECURITY ISSUES............................................................................................. 3 In-Person................................................................................................................................ 4 Online..................................................................................................................................... 4 RECOMMENDATIONS........................................................................................................... 5 In-Person................................................................................................................................ 5 Online..................................................................................................................................... 5 CONCLUSION.......................................................................................................................... 6 APPENDIXES........................................................................................................................... 7 Appendix A: Typical Loan Application Process (Figure 1).................................................. 7 REFERENCES.......................................................................................................................... 8
Loan Policy 3 McBride Financial Services: Loan Department Policy Receiving a loan from a financial institution can be a stressful and challenging process. Not only is there a plethora of paperwork to complete, but the waiting period for loan approval from the underwriters can be frustrating and time-consuming. With the implementation of the Internet, financial institutions like McBride Financial Services (McBride), have taken the loan application process online. Not only does this save time and travel for the potential customer, but resources and money are conserved through the streamlining of the entire structure of how loans are completed. The negative side to this; however, is that security issues can arise due to the application process being transferred to an online environment. The purpose of this paper is to discuss the current loan process of McBride, to include their online capabilities, and suggest ways to improve it.
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