Revolutionizing Loan Processes: Building a VBCS Web Application Using Business Objects

In today’s fast-paced world, efficiency is the name of the game, especially when it comes to financial transactions like loans. Whether it’s for a personal investment, a business venture, or a major purchase, individuals and organizations alike seek streamlined processes that save time and resources. Enter the world of Visual Builder Cloud Service (VBCS) and Web Applications—a powerful combination that’s revolutionizing the way we handle loan applications.

In this blog, We will cover

• Introducing Visual Builder Cloud Service (VBCS)
• Building the VBCS Web Application for Loan Processing
• Benefits of VBCS Web Applications Using Business Objects
• Conclusion

Introducing Visual Builder Cloud Service (VBCS)

VBCS is a comprehensive development platform offered by Oracle that enables organizations to create rich and responsive web and mobile applications with minimal coding. With its drag-and-drop interface and pre-built components, developers can quickly design user-friendly interfaces and integrate powerful backend functionality.

Leveraging Business Objects for Enhanced Functionality

At the heart of this innovation lies Business Objects, which serve as the backbone of the loan processing system. Business Objects encapsulate the business logic and data required to perform specific functions, such as validating applicant information, calculating loan eligibility, and generating approval decisions.

By defining these processes within Business Objects, developers can ensure consistency, scalability, and maintainability across the application. Moreover, Business Objects facilitate seamless integration with external systems, such as credit bureaus and payment gateways, enabling real-time data exchange and decision-making.

To know about : Calling External REST API in Oracle Integration Cloud

Building the VBCS Web Application for Loan Processing

The development of a VBCS web application for loan processing typically follows a structured approach, starting with requirements gathering and design, followed by implementation, testing, and deployment. Here’s a brief overview of each phase:

• Requirements Gathering: Collaborate with stakeholders to identify key features, user roles, and integration points. Define user stories and workflows to guide the development process.
• Design: Create wireframes and mockups to visualize the application’s layout and navigation. Design data models and define Business Objects to support the required functionality.
• Implementation: Utilize VBCS’s visual development tools to build the user interface, incorporating responsive design principles for optimal usability across devices. Implement backend logic using Business Objects, APIs, and custom code as needed.
• Testing: Conduct thorough testing to ensure the application meets functional and non-functional requirements. Perform unit tests, integration tests, and user acceptance testing to validate the system’s behavior.
• Deployment: Deploy the application to a secure cloud environment, such as Oracle Cloud Infrastructure, ensuring scalability, reliability, and data protection. Configure monitoring and logging to track performance and identify potential issues.

Step by step

1. Go to integration and click on service console and click on Visual Builder. Now in Visual Builder, create an application. Click on new Application or you can even import an application.
2. Enter a name for you Application and the application ID will be automatically taken, leave rest of the field unchanged and click on Finish.
3. Go to Web Application and create a new application.
4. Enter a name for your web application and in navigation style select None then click on Create.
5. A new tab will load in the center you have your Application designing area.
6. Click on Business Object. Create a new Business Object, click on + Symbol to create a new one.
7. Provide a Label like LoanBO and the click on Create.
8. Go to fields. Click on +New Field to add fields in the BO.
9. Enter the fields for FirstName-String, Lastname-String, Email-Email, LoanType-String, Amount-Number, Tenure-Number. [Label-Type]
10. Go back to the web application and open main-start page. From the Components pallet, search the Table and drop on the page.
11. Select the Table on the page, see the properties in the right panel. Click on the Quick Start and Add Data.
12. Select the LoanBO under the Business Objects and select Next button.
13. Select below fields from left panel according to requirement and click on Next button
14. Creating a page for loan application
15. Select the fields according to requirement and click on finish.
16. Creating a page to edit the application form.
17. Select fields according to requirement
18. Create a page to delete the loan details.
19. Test the application click on Play symbol
20. You can test click on apply and enter the details and click on save details will be saved.
21. By clicking on Update you can modify the provided details.
22. By clicking on Delete , details will be deleted

Benefits of VBCS Web Applications Using Business Objects

By adopting this innovative approach to loan processing, organizations can unlock a host of benefits:

• Improved Efficiency: Automated workflows and real-time data processing reduce manual effort and minimize processing times, enabling faster loan approvals and disbursements.
• Enhanced Accuracy: By centralizing business logic within Business Objects, organizations can ensure consistency and accuracy across all loan-related activities, reducing the risk of errors and fraud.
• Greater Flexibility: VBCS’s low-code development environment empowers business users to customize and extend the application as needed, without heavy reliance on IT resources.
• Enhanced Customer Experience: A user-friendly interface and streamlined processes enhance the overall customer experience, driving satisfaction and loyalty.

Conclusion

In an era defined by digital transformation, the traditional approach to loan processing is no longer sustainable. By harnessing the power of Visual Builder Cloud Service and Business Objects, organizations can modernize their loan processes, delivering greater efficiency, accuracy, and customer satisfaction. As we look to the future, the synergy between technology and business innovation will continue to drive meaningful change in the financial services industry, ushering in a new era of digital lending that benefits lenders and borrowers alike.

Frequently Asked questions

Related Links:

• To apply for 1z0-1042-23 Oracle cloud platform integration 2023 certified professional
• Step by Step guide to get a FREE Oracle Cloud account.
• Oracle Integration Cloud (OIC) For Beginners Overview
• Create Oracle Integration Cloud Instance: Step by Step

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