Mcbride Financial Services

McBride Financial Services

CMGT 441

McBride Financial Services

Applying and receiving a loan from a loan provider is often a difficult and complex process. Not only are there many documents to complete but the authorization process can be time consuming and stressful. With the increase in Internet activity, McBride Financial Services has implemented a loan application process that the user can complete online. This online process can save the client time by allowing him/her to complete a loan application without having to visit the financial company. Resources and money can also be saved by optimizing the structure of how loans are finalized. The drawback to the online process of loan application is security issues. The objective of this paper is to discuss the present loan process of McBride Financial and to recommend method to improve their current structure.

Currently McBride Financial offers two ways of applying for loans; in-person and online. Both processes ultimately yield the same results but the online application is generally quicker since clients do not have to appear at the brick and mortar structure to complete paperwork. One disadvantage to online applications is that if an applicant has questions they must wait until their loan application has been received by a loan officer or they will need to contact one of McBride’s eight offices and speak to a representative.

Protection of sensitive information is a main concern for all companies. Extra security risks will arise for any company that uses Internet to conduct business as is the case with McBride Financial. McBride uses both online and in-person services to review and approve loan requests.

The brick and mortar structures of McBride Financial offer little in the way of security measures. The eight offices lack any type of monitoring equipment; this means that hallways, cubicles, and parking areas are not watched for any kinds of criminal activity. Employee access is unlimited allowing any...