Methods and apparatus for automatically exchanging credit information

• US 20020072927A1
• Filed: 11/14/2001
• Published: 06/13/2002
• Est. Priority Date: 11/14/2000
• Status: Active Grant

• Current Assignee: Knowledge Works, Inc. (Equifax, Inc.)
• Original Assignee: Knowledge Works, Inc. (Equifax, Inc.)
• Inventors: Michalek, Dan, Phelan, William
• Granted Patent: US 7,991,688 B2
• Time in Patent Office: Days
• US Class Current: 705/1
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Methods and apparatus for pooling credit and business information are disclosed. A disclosed apparatus includes an input and a data processing facility structured to process credit information received at the input from one of a plurality of unrelated users. The apparatus also includes a data storage device structured to store the processed credit information received from the plurality of unrelated users and a search engine responsive to a request from a requestor for credit information to search the data storage device for responsive credit information. The apparatus further includes an output for outputting the responsive credit information to the requester. The apparatus may also include an accounting facility cooperating with the search engine to charge a search fee to the requester of the responsive credit information without disclosing lender identification information associated with the credit information.

Claims

1. A method for automatically exchanging credit information, comprising the steps of:

obtaining payment history data from a member'"'"'s accounting system;

creating a payment history file that contains the payment history data;

loading the payment history file through the Internet to a system database;

evaluating the payment history data in the payment history file;

formatting the payment history file into a payment history report; and

storing the payment history report in a centralized data repository.

2. A method for automatically exchanging credit information as defined in claim 1 further comprising the step of creating scoring and modeling of customer information.

3. A method for automatically exchanging credit information as defined in claim 1, wherein the step of loading the payment history data to a system database further comprises the steps of:

opening the payment history file;

determining the payment history file type;

obtaining validation rules for the specific payment history file type;

validating the payment history file using the validation rules;

loading the payment history file into a system database;

performing a scrubbing routine on the payment history data to remove suspect payment history data; and

performing matching routines on the payment history data, wherein new lenders are created if no matching lender is found in the system database, and at least one of adding or updating payment history data is in the system database is performed if a matching lender is found in the system database.

4. A method for automatically exchanging credit information as defined in claim 3, wherein the step of performing a scrubbing routine on the payment history data further comprises the step of modifying the suspect payment history data based upon thresholds set by the member.

5. A method for automatically exchanging credit information as defined in claim 1, wherein the step of formatting the payment history file into a payment history report further comprises the steps of:

receiving search criteria for a customer;

searching the payment history data for the matching customer;

logging the search request;

displaying the matching customer data;

generating a payment history report for the matching customer; and

displaying the payment history report.

6. A method for automatically exchanging credit information as defined in claim 5, wherein the step of generating a payment history report for the matching customer further comprises the steps of:

computing summary and scoring information, including a high credit value, a total lease balance, total current payments, and a total number of times a customer had an overdue payment; and

displaying the summary information.

7. An apparatus for pooling credit information comprising:

an input;

a data processing facility in communication with the input and structured to process credit information received at the input from one of a plurality of unrelated users;

a data storage device structured to store the processed credit information received from the plurality of unrelated users;

a search engine responsive to a request from a requester for credit information to search the data storage device for responsive lease credit information; and

an output for outputting the responsive credit information to the requester.

8. An apparatus as defined in claim 7 further comprising an accounting facility cooperating with the search engine to charge a search fee to the requestor of the responsive credit information without disclosing lender identification information associated with the credit information.

9. An apparatus as defined in claim 7 further comprising an accounting facility cooperating with the search engine to credit a usage fee to a provider of the responsive credit information.

10. An apparatus as defined in claim 7 further comprising an evaluation generator cooperating with the search engine to develop a summary of the responsive credit information.

11. An apparatus as defined in claim 10 wherein the summary is output to the requestor.

12. An apparatus as defined in claim 7 wherein the data processing facility further comprises:

a data validator structured to test the credit information received at the input for validity; and

a record formatter structured to convert the credit information to a predetermined format for storage in the data storage device.

13. An apparatus as defined in claim 12 wherein the data validator tests the credit information by comparing it to prior credit information previously stored in the data storage device.

14. An apparatus as defined in claim 7 further comprising:

a user identifier in communication with the data storage device for limiting access to the credit information to authorized users.

15. An apparatus as defined in claim 7 further comprising:

a user identifier in communication with the data storage device for ensuring only credit information received from authorized users is stored in the data storage device.

17. An apparatus as defined in claim 16 further comprising means for charging a search fee to the requestor of the responsive credit information.

18. An apparatus as defined in claim 16 further comprising means for crediting a usage fee to a provider of the responsive credit information.

19. An apparatus as defined in claim 16 further comprising means for developing a summary of the responsive credit information.

20. An apparatus as defined in claim 19 wherein the summary is output to the requestor.

21. An apparatus as defined in claim 16 wherein the processing means further comprises:

means for testing the credit information received at the input for validity; and

means for converting the credit information to a predetermined format for storage in the storage means.

22. An apparatus as defined in claim 21 wherein the testing means tests the lease credit information by comparing it to prior credit information previously stored in the storage means.

23. An apparatus as defined in claim 16 further comprising:

means for limiting access to the credit information stored in the storage means to authorized users.

24. An apparatus as defined in claim 16 further comprising:

means for ensuring only credit information received from authorized users is stored in the storage means.

26. A method as defined in claim 25 further comprising the step of charging a search fee to the requester of the responsive credit information.

27. A method as defined in claim 25 further comprising the step of crediting a usage fee to a provider of the responsive credit information.

28. A method as defined in claim 26 further comprising the step of developing a summary of the responsive credit information.

29. A method as defined in claim 28 wherein the summary is output to the requester.

30. A method as defined in claim 25 wherein the processing step further comprises the steps of:

testing the credit information for validity; and

converting the credit information to a predetermined format for storage.

31. A method as defined in claim 30 wherein the step of testing is performed by comparing the credit information being tested to prior credit information previously stored.

32. A method as defined in claim 25 further comprising the step of limiting access to the stored credit information to authorized users.

33. A method as defined in claim 25 further comprising the step of ensuring only credit information received from authorized users is stored.

16. An apparatus for pooling credit information comprising:

an input;

means for processing credit information received at the input from one of a plurality of unrelated users;

means for storing the processed credit information received from the plurality of unrelated users;

means for searching the storage means for responsive credit information in response to a request from a requester for credit information; and

means for outputting the responsive credit information to the requestor without disclosing lender identification information associated with the credit information.

25. A method for pooling credit information comprising the steps of:

processing credit information received from one of a plurality of unrelated users;

storing the processed credit information received from the plurality of unrelated users;

searching the stored credit information for responsive credit information in response to a request from a requester for credit information; and

outputting the responsive credit information to the requester without disclosing lender identification information associated with the credit information.