20.4.4. Banking

Build a digital loan application portal to streamline the process of applying, verifying, and disbursing personal loans.

The objective of the banking project is to create an online platform that simplifies the loan process. This means allowing users to easily apply for loans, have their applications verified quickly, and receive funds without unnecessary delays. This portal replaces the traditional paperwork treatment of loans which can be cumbersome and time-consuming.

Imagine if applying for a loan was like ordering a pizza online. Instead of calling a restaurant and providing details over the phone, you could just click through a website, fill in your information, and get your loan approved as easily as picking a favorite pizza topping.

● Users can apply for a loan with ID and income documents ● System auto-calculates eligibility based on rules ● Risk engine flags high-risk applications ● Integration with credit bureaus (e.g., CIBIL) ● Application tracking via dashboard

Key business requirements outline what the loan application system needs to accomplish. Users must be able to submit their identification and proof of income when applying for a loan. The system will automatically assess if the user is eligible for a loan based on pre-set rules, helping to streamline decisions. A risk engine must also analyze applications and highlight any that may pose a risk, like applicants with poor credit scores. Furthermore, the system should connect with credit bureaus to verify credit history, and users should be able to track their loan application status via an online dashboard for transparency.

Think of this system like a smart loan officer that uses a checklist to determine if you qualify for a mortgage. You provide them with your ID and income, and they pull up your credit report. If everything looks good, you can see your application status on a dashboard, just like tracking a package delivery.

● Customers ● Credit & Risk Team ● Operations (Verification Team) ● Legal & Compliance ● Loan Officers

Stakeholders are individuals or groups that have an interest in the project's outcome. In this case, customers are the ones who will use the loan application portal. The Credit and Risk Team is responsible for evaluating the risk of lending to customers. The Operations Team ensures that applications are verified accurately. Legal and Compliance teams ensure that the process adheres to regulations and laws, and Loan Officers work directly with the applicants, guiding them through the process and making decisions based on the information provided.

Imagine planning a big event like a wedding. The guests are analogous to customers, while the wedding planner serves as the Loan Officer. The planners (Operations Team) handle logistics, and legal advisors (Legal & Compliance) ensure everything abides by the legal requirements, just like how loan applications must align with financial regulations.

● Gather BRD and map user personas (Salaried vs Self-Employed) ● Write user stories and define system integrations (APIs with credit bureaus) ● Coordinate test scenarios for fraud checks and KYC compliance ● Prepare data mapping for reports and dashboards ● Assist in training call center on system usage

Business Analysts (BAs) perform several critical activities during the development of this banking system. They create a Business Requirements Document (BRD) that describes what the system should achieve. Additionally, they identify different user personas based on their employment status, which informs how the system will cater to various customers. They write user stories to capture the requirements from the user's perspective, working with technical teams to develop system integrations like APIs with credit bureaus. They also create test cases ensuring the system can detect fraud and comply with 'Know Your Customer' (KYC) regulations, gather the necessary data for analysis and reporting, and support training for the call center staff so they can effectively assist users.

Consider a BAs role like that of a director producing a movie. They need to understand who the audience (users) is, gather scripts (BRD), arrange the cast (integration with credit bureaus), test various scenes (test scenarios), and train the actors (call center) to deliver the best performance.

● Draw.io (Data Flow Diagrams) ● Confluence (BRD, API documentation) ● JIRA (Requirements and test logging) ● MS Excel (Eligibility criteria modeling)

To carry out their activities efficiently, Business Analysts utilize a variety of tools. Draw.io helps in visualizing data flows, allowing them to see how information moves through the system. Confluence is used for documentation, including creating and storing the BRD and API specifications. JIRA assists in tracking requirements and logging test cases to ensure nothing is overlooked during the project. MS Excel is a powerful tool for modeling the eligibility criteria and performing calculations related to loans.

Imagine a mechanic working on a car. They use a variety of tools like wrenches and diagnostic machines (similar to how BAs use Draw.io, Confluence, JIRA, and Excel) to ensure every part of the car functions perfectly. Just as the mechanic's tools help them do their job effectively, the BA's tools help them create a successful loan application system.

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