System and method for establishing and providing access to an online account

• US 20040230516A1
• Filed: 04/23/2004
• Published: 11/18/2004
• Est. Priority Date: 05/15/2003
• Status: Active Grant

• Current Assignee: Cantor Index LLC
• Original Assignee: Cantor Index LLC
• Inventors: Crosthwaite, Dominic, Findlay, Lewis C.
• Granted Patent: US 8,001,039 B2
• Time in Patent Office: Days
• US Class Current: 705/37
• CPC Class Codes: G06Q 30/04 Billing or invoicing
• CPC Class Codes: G06Q 30/0601 Electronic shopping [e-shopping]
• 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 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/34 Betting or bookmaking, e.g. Internet betting
• CPC Class Codes: G07F 15/00 Coin-freed apparatus with meter-controlled dispensing of liquid, gas or electricity
• CPC Class Codes: G07F 17/3288 Betting, e.g. on live events, bookmaking

Abstract

A method of providing an account is provided. The method includes receiving identification information associated with a user during a communication session. The method further includes communicating a request for credit information, wherein the request includes at least a portion of the identification information. The requested credit information is received and an account is approved based at least in part on the received credit information. The account is opened and access is provided to the opened account during the communication session.

Claims

1. A method of providing an account, comprising:

receiving identification information associated with a user during a communication session;

communicating a request for credit information, the request including at least a portion of the identification information;

receiving the requested credit information;

approving an account based at least in part on the received credit information;

opening the account; and

providing access to the opened account during the communication session.

2. The method of claim 1, wherein the account is at least in part a credit account.

3. The method of claim 1, wherein the received credit information comprises a credit score and approving the account comprises approving the account based at least in part on the credit score.

4. The method of claim 1, wherein the received credit information comprises a credit score and one or more credit information details and approving the account comprises approving the account based at least in part on the credit score and the credit information details.

5. The method of claim 4, wherein approving the account comprises applying one or more business rules to the credit information details.

6. The method of claim 1, wherein the received credit information comprises an identity score and a credit score and approving the account comprises approving the account based at least in part on the identity score and the credit score.

7. The method of claim 6, wherein approving the account comprises applying a decision matrix to the identity score and the credit score.

8. The method of claim 1, further comprising:

for each of a plurality of different types of accounts, determining whether to approve that type of account based at least in part on the received credit information;

communicating a notification indicating each of the approved types of accounts; and

receiving a selection of one of the approved types of accounts;

wherein opening the account comprises opening the selected type of account.

9. The method of claim 1, further comprising:

during the communication session, receiving a request to place a first order to trade a product, the request being made using the opened account; and

placing the first order.

10. The method of claim 9, wherein the first order is defined at least in part by a plurality of order parameters, the method further comprising determining whether to approve the request to place the first order based at least in part on one or more of the order parameters.

11. The method of claim 10, further comprising:

determining one or more balances for the account based at least in part on the received credit information; and

wherein determining whether to approve the request to place the first order is based at least in part on one or more of the order parameters and one or more of the determined balances for the account.

12. A system for providing an account, comprising:

a processor operable to;

receive identification information associated with a user during a communication session;

communicate a request for credit information, the request comprising at least a portion of the identification information;

receive the requested credit information;

approve an account based at least in part on the received credit information;

open the approved account; and

provide access to the opened account during the communication session; and

a memory operable to store the opened account.

13. The system of claim 12, wherein the account is at least in part a credit account.

14. The system of claim 12, wherein:

the received credit information comprises a credit score; and

the processor approves the account based at least in part on the credit score.

15. The system of claim 12, wherein:

the received credit information comprises a credit score and one or more credit information details; and

the processor approves the account based at least in part on the credit score and the credit information details.

16. The system of claim 15, wherein the processor approves the account by applying one or more business rules to the credit information details.

17. The system of claim 12, wherein:

the received credit information comprises an identity score and a credit score; and

the processor approves the account based at least in part on the identity score and the credit score.

18. The system of claim 17, wherein approving the account comprises applying a decision matrix to the identity score and the credit score.

19. The system of claim 12, wherein the processor is further operable to:

determine, for each of a plurality of different types of accounts, whether to approve that type of account based at least in part on the received credit information;

communicate a notification indicating each of the approved types of accounts; and

receive a selection of one of the approved types of accounts;

wherein opening the account comprises opening the selected type of account.

20. The system of claim 12, wherein the processor is further operable to:

receive, during the communication session, a request to place a first order to trade a product, the request being made using the opened account; and

place the first order.

21. The system of claim 20, wherein:

the first order is defined at least in part by a plurality of order parameters; and

the processor determines whether to approve the request to place the first order based at least in part on one or more of the order parameters.

22. The system of claim 21, wherein the processor determines one or more balances for the account based at least in part on the received credit information, and determines whether to approve the request to place the first order based at least in part on one or more of the order parameters and one or more of the determined balances for the account.

23. A method of providing an account, comprising:

electronically receiving credit information regarding a user;

approving an account based at least in part on the electronically received credit information;

opening the account; and

providing access to the opened account.

24. The method of claim 23, wherein the account is at least in part a credit account.

25. The method of claim 23, wherein the received credit information comprises a credit score and approving the account comprises approving the account based at least in part on the credit score.

26. The method of claim 23, wherein the received credit information comprises a credit score and one or more credit information details and approving the account comprises approving the account based at least in part on the credit score and the credit information details.

27. The method of claim 26, wherein approving the account comprises applying one or more business rules to the credit information details.

28. The method of claim 23, wherein the received credit information comprises an identity score and a credit score and approving the account comprises approving the account based at least in part on the identity score and the credit score.

29. The method of claim 28, wherein approving the account comprises applying a decision matrix to the identity score and the credit score.

30. The method of claim 23, further comprising:

for each of a plurality of different types of accounts, determining whether to approve that type of account based at least in part on the received credit information;

communicating a notification indicating each of the approved types of accounts; and

receiving a selection of one of the approved types of accounts;

wherein opening the account comprises opening the selected type of account.

31. The method of claim 23, further comprising:

receiving a request to place a first order to trade a product, the request being made using the opened account; and

placing the first order.

32. The method of claim 31, wherein the first order is defined at least in part by a plurality of order parameters, the method further comprising determining whether to approve the request to place the first order based at least in part on one or more of the order parameters.

33. The method of claim 32, further comprising:

determining one or more balances for the account based at least in part on the received credit information; and

wherein determining whether to approve the request to place the first order is based at least in part on one or more of the order parameters and one or more of the determined balances for the account.