Favour Obioha

FinovateX Workspace, a financial services company, was struggling with inefficiencies in their loan processing system. The company faced issues with manual handling of loan applications, tracking loan progress, and communication between departments. To address these issues, I implemented a streamlined workflow using project management tools (Asana) and automation software (Zapier). The solution included centralized loan application tracking, automated notifications, and structured project stages for each phase of the loan process. The new workflow was implemented in Asana, with each stage represented by a project, and automations set up via Zapier to notify teams and update documentation at critical phases. This improved efficiency, reduced manual workload, and improved communication across departments. The Compliance Project ensures loan requests meet regulatory and internal requirements, flags missing or incorrect documents, and minimizes risk of non-compliance with external regulations and internal policies. The Credit Assessment Project evaluates applicant creditworthiness and loan risk, providing a systematic evaluation for approval, rejection, or further documentation, thereby reducing loan default risk. The finance phase manages loan approvals and disbursements efficiently, ensuring proper financial oversight and resolving issues before funds are released. The project focuses on managing client relationships, providing continuous communication post-disbursement, monitoring repayment schedules, and addressing issues related to loan repayment. The project focuses on recovering delinquent loans, managing follow-up processes, implementing recovery strategies, and reducing financial risk through timely and structured follow-up. This project manages loan applications centrally, tracking submission to completion and efficiently moving through phases like compliance, credit assessment, and finance, ensuring no application is overlooked or delayed. This Zap automates the entire documentation process. It generates the lending agreement by pulling client information from Zapier and using a pre-built template in Google Sheets. Once the document is signed, it is automatically uploaded to a designated Google Drive folder. The documentation phase is then marked as complete, triggering another automation that moves the client to the Finance project for fund disbursement. The result of the zap. Formatted and automated documentation organized in a google drive folder