Software Requirements Specification for Automated Loan Origination at Paygeon 🚀

Comprehensive outline detailing the software requirements for Lendeon, a cutting-edge automated loan origination platform designed for efficiency and accessibility.

1. Overview of Lendeon’s Functionality 🎯

Lendeon serves as an automated loan origination and underwriting application, revolutionizing how financial institutions process loan applications. By utilizing real-time underwriting guidelines set by partner banks, Lendeon automates application submissions when prerequisites are met. This allows applicants to receive decisions rapidly, enhancing user experience and operational efficiency.

2. Documentation Structure and Purpose 📑

To ensure effective project communication, a 20-page Software Requirements Specification (SRS) was developed. This document serves multiple teams within Paygeon, guiding them in creating tailored materials relevant to their tasks. This comprehensive resource encompasses detailed specifications aimed at developers, project managers, and end-users, fostering a coherent understanding of the project across various departments.

3. Technical Specifications and Compatibility 💻

Lendeon is engineered to function across diverse hardware platforms and operating systems, ensuring a wide-ranging user base can access the application. The software is compatible with:

• Operating Systems:
  • Windows: Versions 7, 8, and 10
  • macOS: Including Catalina and Big Sur
  • Linux: Distributions such as Ubuntu and CentOS
  • Mobile OS: Multiple versions of Android and iOS

This compatibility ensures that users can access Lendeon on personal computers, laptops, and mobile devices seamlessly.

4. Ecosystem Integration and Data Management 📊

To deliver a seamless user experience, Lendeon interacts with an array of software components:

• Web Browsers: Optimized for major browsers like Google Chrome, Mozilla Firefox, Microsoft Edge, and Safari, allowing unrestricted access to the application.
• Database Systems: Engaging with MySQL for efficient data management and retrieval.
• Email Clients: Integrated communication for notifications and updates to maintain user engagement.
• APIs: Connecting with bank APIs and Plaid APIs to enhance financial data retrieval and facilitate transactions.

This interoperability is crucial for the application's core functionality, ensuring users have a smooth and efficient experience.

5. Development and Security Documentation 📜

The robust technical documentation comprises guidelines on software architecture, coding standards, and data models. Key components include:

• Database Schema Exports: Documenting data structures to assist developers.
• Security Reports: Including best practices on password policies, data encryption, and measures against common threats.
• User and Admin Manuals: Step-by-step guides for end-users and administrators to effectively utilize the software.

These documents aim to equip all stakeholders with the necessary knowledge to navigate and optimize Lendeon’s capabilities.

6. Performance and Scalability Expectations 📈

Performance metrics are critical for maintaining user engagement. Key requirements include:

• Page Load Speed: Web pages must load within 0.3 seconds to minimize bounce rates and retain users.
• Application Processing Time: Loan applications should be processed within 30 seconds to ensure timely responses.
• Concurrent Users: The system must support a minimum of 10,000 concurrent users without performance degradation.

These performance benchmarks are essential for accommodating growth and ensuring the application remains responsive.

7. Risk Management and Compliance 🔐

Lendeon is designed with multiple safeguards against potential risks:

• Disaster Recovery: Measures to prevent data loss in unforeseen circumstances.
• Legal Compliance: Adhering to regulatory standards to mitigate legal risks for the organization and its users.
• Accessibility: Ensuring compliance with accessibility standards for inclusivity, preventing discrimination against users with disabilities.

Proactive risk management ensures Lendeon operates within a secure and stable environment.

8. Conclusion and Future Directions 🔍

With the project nearing completion and undergoing rigorous QA and user testing, Lendeon is poised for an open Alpha launch. The foundational work incorporated into the SRS and subsequent documentation will enable continuous improvement and scalability in alignment with user feedback and evolving market needs. This strategic approach positions Paygeon as a leader in automated loan origination, paving the way for enhanced user experiences and operational efficacy in the financial sector.