Web service pattern
The scenario used in this chapter is based on the Loan Origination process. Loan Origination is a core business process in financial services, where a borrower applies and seeks for a loan through a loan application. The bank, which is the lender, will process it and either approve (grant) the loan or reject the loan application. The Loan Origination process is a sequence of steps performed by the lender that start from the point when the customer starts showing interest in a loan product offering to the disbursal or grant or rejection of the funds against the loan application. A fine-tuned Loan Origination process is a requirement for banks (lenders) as they are looking for processes that can overcome many challenges, as follows:
A customer's need for instant visibility in the origination process, and often, they seek immediate updates
Customers have the expectation to get the loan processed with the least turnaround time and reduced processing fees
Customers can initiate...
