Mcbride Financial

In: Computers and Technology

Submitted By cathieadkins
Words 1001
Pages 5
McBride Financial Services: Loan Department
Catherine Adkins
CMGT 441
June 18, 2012
University of Phoenix

McBride Financial Services: Loan Department Receiving a loan from a financial institution can be a stressful and challenging process. Not only is there a pile 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, which, is a time saver and reduces travel time for the 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 when transferring sensitive information over an online environment. Therefore, an examination has been done of the processes and procedure to find vulnerabilities and possible weak areas that could be breached and comprised.
Current Loan Process McBride currently has two methods of applying for a loan: in-person or online. Either method will eventually return the same results; however, the online application method is faster as customers have the time to fill paperwork on there on time line. There are advantages and disadvantages of completing the loan application online far outweigh the physical appearance; however, there are a few downsides. The major downside is that should customers have questions about any portion of the loan application or loan process, they must wait until either their application has been received and turned over to a loan officer or they must contact one of McBride’s eight offices via telephone to have their questions answered.

Current Security Issues Security information is a major concern for all…...

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