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Role and performance of Real Time, Web based Loan Generating Systems (LGS) towards Paper-less Banking

Hammad Khan
Machine Intelligence Research (MIR) Labs, Pakistan
Abstract-Documentation in banking throughout the Pakistan is the cause of erroneous and tedious working. Paper-based systems are difficult to handle and transfer of information within them is also time consuming. Loan origination should always be fast and efficient as customer’s needs are usually to be filled urgently, while this cannot be possible with paper based systems. In order to have efficient loan generation, banks in Pakistan are devising their own Real time-Web based Loan Generation Systems (LGS) for commercial and corporate clients specifically. It has been a major breakthrough towards paper less banking as the whole information about obligor can be enriched in LGS environment and even the approvals from all levels up to CEO of the bank can be taken within the same day of initiation. Currently it is used for making proposals for obligors having credit lines greater than 75 (M). LGS has speed up the process with no chances of error. In this paper, roles and features of LGS have been analyzed along with its loop holes. Development of it towards making of proposals for SME sector is also been discussed.

Index Terms—loan generation system; paper-less banking; real time systems; commercial banking; cloud servers.

Cite: Hammad Khan, "Role and performance of Real Time, Web based Loan Generating Systems (LGS) towards Paper-less Banking," Journal of Industrial and Intelligent Information, Vol.1, No.3, pp. 128-131, September 2013. doi: 10.12720/jiii.1.3.128-131
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