System and method of application processing
First Claim
1. An application processing system comprising:
- a data storage unit adapted to receive, store, and provide application data associated with an application;
a logic engine in communication with said data storage unit and adapted to communicate with a plurality of decision engines and to direct said application data to at least one of said plurality of decision engines and to receive decision data from said at least one of said plurality of decision engines.
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Accused Products
Abstract
The present invention provides systems and methods for application processing. The present invention receives a request to process an application. In response to the request, the system validates the application data and requests a reporting bureau to provide report data associated with the applicant associated in the application data. After receiving reporting data from the reporting bureau, the system submits the application data and reporting data to a decision engine. The system is capable of interfacing with one or more of a plurality of decision engines. The system receives a preliminary decision from the decision engine. If the preliminary decision indicates approval, the system issues approval documents. If the preliminary decision indicates rejection, the system issues rejection documents. If the decision engine is not able to issue an approval or a rejection, the system directs the application to a pending application queue. Such pending applications may either be automatically rejected/accepted or be manually examined.
376 Citations
17 Claims
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1. An application processing system comprising:
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a data storage unit adapted to receive, store, and provide application data associated with an application;
a logic engine in communication with said data storage unit and adapted to communicate with a plurality of decision engines and to direct said application data to at least one of said plurality of decision engines and to receive decision data from said at least one of said plurality of decision engines. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. A method of processing an application comprising the steps of:
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receiving application data;
validating application data;
providing application data to one of a plurality of decision engines; and
receiving decision data from said one of said plurality of decision engines indicating the status of a decision. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17)
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Specification