Merchant application and underwriting systems and methods

• US 20030187778A1
• Filed: 03/27/2002
• Published: 10/02/2003
• Est. Priority Date: 03/27/2002
• Status: Abandoned Application

• Current Assignee: First Data Corporation (Fiserv Incorporated), Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Sgaraglio, Michael L., Long, Edward J., Arthus, Mark G.
• Application Number:
  US10/109,198
• Publication Number:
  US 20030187778A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/027 involving a payment switch or gateway
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method for establishing credit services with a merchant account using a computer system comprises receiving at a server computer application information on a merchant applying for a credit service. The application information is stored in a database. At the server computer, a request from a credit investigator is received to view at least some of the application information. The requested information is then sent to the credit investigator from the server computer.

Claims

1. A method for establishing credit services with a merchant using a computer system, the method comprising:

receiving at a server computer application information on a merchant applying for a credit service;

storing the application information in a database;

receiving at the server computer a request from a credit investigator to view at least some of the application information; and

sending the requested information to the credit investigator from the server computer.

2. A method as in claim 1, further comprising receiving at the server computer underwriting information from the credit investigator.

3. A method as in claim 2, wherein the underwriting information includes an approval to establish credit services.

4. A method as in claim 1, further comprising calculating at the server computer credit risk information based on the application information, and sending the credit risk information from the server computer to the credit investigator.

5. A method as in claim 4, further comprising receiving a request from the credit investigator to modify the risk calculations using certain changed parameters used in the risk calculations, recalculating the risk information using the server computer, and sending the recalculated risk information from the server computer to the credit investigator.

6. A method as in claim 1, further comprising receiving a request at the server computer to display a list of required application information that has not been received at the server computer, and sending from the server computer a document containing the list of application information that has not been received.

7. A method as in claim 1, wherein the application information is selected from a group consisting of merchant information, visitation information, landlord information, bank references, supplier references, principal references, sales information, and account information.

8. A method as in claim 1, further comprising sending an application information form from the server computer to an application computer, and displaying the application form on the application computer, the application form having fields for entering the application information using an entry device.

9. A method as in claim 8, wherein the application form is further configured to be displayed in tabular form on the application computer, whereby selection of each tab causes the server computer to render a more specific application form on the application computer.

10. A method as in claim 1, further comprising requiring authentication information to be received at the server computer before sending the requested application information to the credit investigator.

11. A method as in claim 1, further comprising receiving at the server computer a request to generate a welcome letter to the merchant, and sending a document from the server computer containing the welcome letter in electronic form.

12. A method as in claim 1, further comprising receiving at the server computer a request to view tracking information on how a merchant account is being serviced, and sending a document from the server computer containing the tracking information.

13. A method as in claim 12, further comprising receiving at the server computer information on how the merchant account is being serviced.

14. A method as in claim 1, further comprising sending configuration information from the server computer to a financial transaction system for configuration of a merchant account.

15. A method for underwriting a credit application using a computer system, the method comprising:

receiving at server computer a request to view information on a merchant account application from a credit investigator;

calculating credit risk information at the server computer using information in the merchant account application;

transmitting the requested merchant account application information along with credit risk information from the server computer to the credit investigator; and

receiving an underwriting response relating to the merchant account application at the server computer from the credit investigator.

16. A method as in claim 15, further comprising authenticating the credit investigator at the server computer.

17. A method as in claim 15, further comprising storing the underwriting response in a database associated with the server computer.

18. A method as in claim 15, further comprising receiving a request from the credit investigator to modify the risk calculations using certain changed parameters used in the risk calculations, recalculating the risk information using the server computer, and sending the recalculated risk information from the server computer to the credit investigator.

19. A method for establishing a merchant account with a credit service system, the method comprising:

receiving at a server computer application information on a merchant applying for a credit service;

storing the application information in a database;

receiving at the server computer an underwriting approval that approves creation of a merchant account; and

receiving at the server computer a request to view servicing information on how the account is being serviced.

20. A method as in claim 19, further comprising sending a document from the server computer containing information on how the account is being serviced.

21. A method as in claim 19, further comprising receiving at the server computer information on how the account is being serviced and storing the information in the database.

22. A method as in claim 19, further comprising receiving at the server computer a request to generate a welcome letter to the merchant, and sending a document from the server computer containing the welcome letter in electronic form.

23. In a computer system having a graphical user interface including a display and an entry device, a method of updating credit risk information, the method comprising:

retrieving a merchant application form having a set of fields containing merchant financial information;

displaying the application form on the display along with a calculated credit risk based on the merchant financial information;

receiving a data field entry selection signal indicative of the entry device entering modified merchant financial information into one of the fields; and

in response to the signal, sending the modified credit merchant financial information to a server computer; and

receiving updated credit risk information from the server computer and displaying the updated credit risk information on the display.

24. A computer system to facilitate the creation of a merchant account, the system comprising:

a server computer that is adapted to be coupled to a network, the server computer having an interface that is adapted to receive incoming data signals and to transmit outgoing data signals;

a database associated with the server computer, the database having merchant application information for a merchant applying for a credit service;

wherein the server computer is configured to receive a request from a credit investigator to view at least some of the application information, to extract the requested information from the database, and to send the requested information to the credit investigator.

25. A system as in claim 24, wherein the server computer is configured to receive underwriting information from the credit investigator using the interface.

26. A system as in claim 24, wherein the server computer is configured to calculate credit risk information based on the application information, and to send the credit risk information to the credit investigator.

27. A system as in claim 26, wherein the server computer is configured to receive a request from the credit investigator to modify the risk calculations using certain changed parameters used in the risk calculations, to recalculate the risk information, and to send the recalculated risk information to the credit investigator.

28. A system as in claim 24, wherein the server computer is configured to receive a request to display a list of required application information that has not been received at the server computer, and to send a document containing the list of application information that has not been received.

29. A system as in claim 24, wherein the application information is selected from a group consisting of merchant information, visitation information, landlord information, bank references, supplier references, principal references, sales information, and account information.

30. A system as in claim 24, wherein the server computer is configured to send an application information form to an application computer, and to display the application form on the application computer, the application form having fields for entering the application information using an entry device.

31. A system as in claim 30, wherein the application form is further configured to be displayed in tabular form on the application computer, whereby selection of each tab causes the server computer to render a more specific application form on the application computer.

32. A system as in claim 24, wherein the server computer is configured to require authentication information to be received before sending the requested application information to the credit investigator.

33. A system as in claim 24, wherein the server computer is configured to receive a request to generate a welcome letter to the merchant, and to send a document containing the welcome letter in electronic form.

34. A system as in claim 24, wherein the server computer is configured to receive information on how an account is being serviced and to stored the servicing information in the database.

35. A system as in claim 34, wherein the server computer is configured to receive a request to view tracking information on how a merchant account is being serviced, and to send a document from the server computer containing the servicing information.

36. A system as in claim 24, wherein the server computer is configured to send configuration information to a financial transaction system for configuration of a merchant account.