Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Patent
1996-12-03
2000-07-11
Peeso, Thomas R.
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
705 35, 705 39, 235375, 235379, 235383, G06F 15163
Patent
active
060886862
ABSTRACT:
A user-friendly on-line computerized system operates in real-time thus streamlining the processing of applications for products and services offered by a financial institution. The system automates many steps in the credit and liability review and approval process, performs background credit worthiness evaluations based upon a applicant's credit score, financial information and new or existing relationship with the financial institution, recommends to those applicants who exceed the initial criteria for credit consideration specific credit products with predetermined credit qualified offer amounts, and ensures the required operating (credit/liability) policies are appropriately completed. The system immediately analyzes an applicant's credit bureau history and automated credit scoring, and provides these results to the LBR. The system also takes into account information relating to the applicant's new or existing relationship with the financial institution, if any, into the credit decision request. This enables the system to provide applicants with an up-front conditional approval (based on systematic evaluation of credit bureau history, credit score, debt burden, and applicant's new or existing relationship deposits), subject to required verifications.
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PCT International Search Report--PCT/US96/20289.
Dean, Jr. Charles G.
Marino Glenn
Mayr Mona
Musci Richard
Seib Dennis
Citibank N.A.
Marcou George T.
Peeso Thomas R.
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