Computer implemented automated credit application analysis and decision routing system

• US 20040138994A1
• Filed: 08/28/2003
• Published: 07/15/2004
• Est. Priority Date: 09/03/1997
• Status: Abandoned Application

• Current Assignee: First American Bank (The PNC Financial Services Group, Inc.)
• Original Assignee: First American Bank (The PNC Financial Services Group, Inc.)
• Inventors: Freiman, Scott, Agrawal, Arvind, DeFrancesco, James
• Application Number:
  US10/650,596
• Publication Number:
  US 20040138994A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

A credit application and routing system includes a central processor having and executing a program. The system includes data input capabilities for selectively receiving credit application data from respective applicants at remote locations, and routing capabilities for selectively forwarding the credit application data to remote funding sources and selectively forwarding funding decision data from the funding sources to the respective applicants. The computer program includes routines for receiving a credit application from at least one remote application input and display device, for selectively forwarding a received credit application to at least one funding source, for receiving a funding decision from the at least one funding source, and for forwarding a received funding decision to the at least one remote application input and display device. The system can also obtain credit report data from credit bureau, and analyze and summarize the credit report data. A computer readable storage medium has a substrate physically configured to represent the computer program which causes a computer to provide the credit application and routing system.

Claims

1. A computer program product having a plurality of program steps to be executed on a computer to receive and route credit applications, said computer being accessible by one or more funding sources via a communication channel, said program product comprising:

means for receiving a credit application from at least one remote application input location;

means for monitoring the data flow of said communication channel; and

means for automatically and selectively forwarding said received credit application to said one or more funding sources by standardized facsimile service should said communication channel fail.

2. A computer program product as in claim 1 further comprising means for receiving a funding decision from said one or more funding sources.

4. A method as in claim 1 further comprising the step of receiving a funding decision from said one or more funding sources.

3. A method to be executed on a computer to receive and route credit applications, said computer being accessible by one or more funding sources via a communication channel, said method comprising the steps of:

receiving a credit application from at least one remote application input location;

monitoring the data flow of said communication channel;

should said communication channel fail, automatically and selectively forwarding said received credit application to said one or more funding sources by standardized facsimile service.

5. An apparatus to receive and route credit applications, said apparatus being accessible by one or more funding sources via a communication channel, said apparatus comprising:

a processor configured to;

receive a credit application from at least one remote application input location;

monitor the data flow of said communication channel; and

automatically and selectively forward said received credit application to said one or more funding sources by standardized facsimile service should said communication channel fail.

6. An apparatus as in claim 5 wherein said processor is further configured to receive a funding decision from said one or more funding sources.