Question: Model the following process using BPMN. Include all relevant BPMN constructs. A customer submits a loan application to the bank. A loan application is approved
Model the following process using BPMN. Include all relevant BPMN constructs. A customer submits a loan application to the bank. A loan application is approved if it successfully passes two checks: (i) a credit history check, which is performed by an internal financial officer, and (ii) the appraisal of the property for which the loan has been asked, carried out by an external valuer. If either of the checks returns negative results, the application is rejected, otherwise the acceptance pack is prepared and sent to the applicant. The acceptance pack includes a repayment schedule, which the customer needs to agree to by sending the signed documents back to the bank. The financial officer then verifies the repayment agreement once a response is received: if the applicant disagreed with the repayment schedule, the officer cancels the application; if the applicant agreed, the officer approves the application. If the applicant didnt respond within 10 business days, the bank cancels the application. In any case, the process completes with the loan provider notifying the applicant of the application status.
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