Aggregation of credit facilities

• US 20040236675A1
• Filed: 05/20/2004
• Published: 11/25/2004
• Est. Priority Date: 02/12/2001
• Status: Abandoned Application

• Current Assignee: Accenture Global Services Limited (Accenture PLC)
• Original Assignee: Accenture Global Services Limited (Accenture PLC)
• Inventors: Gale, Andrew, Lynch, David Rolf, Eastwood, David Roger
• Application Number:
  US10/467,737
• Publication Number:
  US 20040236675A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/023 the neutral party being a clearing house
• 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
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

The present invention provides a method of credit aggregation in an arrangement including a borrower, a plurality of credit suppliers, and a credit aggregator, the method including the steps of: determining a borrower'"'"'s credit requirements; assessing offers of credit from the credit suppliers to determine a suitable combination of credit offers to meet the needs of the borrower; the credit aggregator entering into at least one agreement with the borrower to provide the suitable combination of offers; the credit aggregator entering into separate agreements with each of the credit suppliers in relation to the relevant parts of each offer to supply credit to the borrower; wherein the arrangement of credit facilities are supplied by the credit suppliers to the borrower without the borrower entering into an agreement with the individual credit suppliers.

Claims

1. A method of providing credit to a borrower wherein a credit aggregator provides that credit to a borrower up to a first limit in accordance with at least one credit agreement between the borrower and the aggregator, the aggregator sourcing that credit in accordance with separate agreements between the aggregator and at least one credit supplier.

2. A method according to claim 1 wherein the at least one credit agreement solely consists of one or more agreements between the borrower and the aggregator and/or intermediaries acting for the borrower or aggregator.

3. A method according to claim 1 wherein the separate agreements solely consist of agreements between the aggregator and the at least one credit supplier and/or any intermediaries acting for the aggregator or credit supplier.

4. A method according to claim 1 wherein there is one credit agreement between the borrower and the credit aggregator for the purposes of providing credit to the borrower up to the first limit.

5. A method according to claim 1 wherein the first limit is segmented with each segment having a segment limit in accordance with terms agreed between the credit aggregator and individual credit suppliers from whom credit is provided.

8. A method according to claims 1, 6 or 7 wherein for individual credit suppliers, the credit aggregator passes borrowers'"'"' payments to the credit supplier and provides credit from the credit supplier for the purpose of funding payments to the borrower.

9. A method according to claims 1, 6 or 7 wherein the credit aggregator holds any security provided by the borrower associated with securing credit not on its own account but for the benefit of the credit suppliers.

10. A method according to claim 9 wherein the security is not exclusive for any particular credit supplier.

11. A method according to claims 1, 6 or 7 wherein the credit agreement between the credit aggregator and the borrower includes any agreed terms between the credit aggregator and the at least one credit supplier in respect of credit provided by the at least one credit supplier.

12. A method according to claims 1, 6 or 7 wherein the credit aggregator may vary the credit agreement with a borrower without establishing a new credit agreement.

13. A method according to claim 12 wherein variations avoid the need for a new credit agreement and may include variations to the terms agreed between the credit aggregator and individual credit suppliers.

14. A method according to claims 1, 6 or 7 wherein variation of the terms for any individual credit agreement includes a variation to a credit limit relating to credit provided by a credit supplier.

15. A method according to claims 1, 6 or 7 wherein the credit aggregator establishes new agreements with new and/or existing credit suppliers and offers new credit arrangements to prospective or existing borrowers in accordance with terms associated with those new agreements.

16. A method according to claim 15 wherein upon offering a new credit arrangement to an existing borrower, the credit arrangement may be accepted by the borrower and the agreement between the borrower and the aggregator may be varied to reflect the terms and conditions of the new credit arrangement.

17. A method according to claims 1, 6 or 7 wherein the credit aggregator extracts a commission from the borrower and/or credit suppliers as payment for their services in managing and administering the individual agreements with credit suppliers and the credit agreement with the borrower.

18. A method according to claims 1, 6 or 7 wherein the credit aggregator charges a borrower a first interest rate and pays a credit supplier a second interest rate.

19. A method according to claims 1, 6 or 7 wherein the credit aggregator passes to individual credit suppliers the credit and liquidity risk associated with the respective credit limits of the credit suppliers in the at least one credit agreement between the borrower and the credit aggregator.

20. A method according to claims 1, 6 or 7 wherein the entity holding borrowers'"'"' collateral is a different entity as compared with that which establishes credit agreements with borrowers and credit suppliers.

21. A method according to claims 1, 6 or 7 wherein, in the event of default on the part of a borrower, the credit suppliers are appointed as agents of the credit aggregator in order to recover any outstanding debts from the borrower.

22. A method according to claims 1, 6 or 7 wherein, in the event of a default on the part of a borrower, the credit suppliers are empowered to enforce any security interests against the borrower.

23. A method according to claims 1, 6 or 7 wherein the credit aggregator may enter into multiple credit agreements with borrowers and may provide credit to those borrowers without entering into additional credit agreements with any individual credit suppliers.

24. A method according to claims 1, 6 or 7 wherein the credit aggregator and/or any one or more of the credit suppliers assesses the credit capacity of the borrower and advises the borrower of the outcome of the credit capacity assessment.

6. A method of credit aggregation in an arrangement including a borrower, a plurality of credit suppliers, and a credit aggregator, the method including the steps of:

determining a borrower'"'"'s credit requirements;

assessing offers of credit from the credit suppliers to determine a suitable combination of credit offers to meet the needs of the borrower;

the credit aggregator entering into at least one agreement with the borrower to provide the suitable combination of offers;

the credit aggregator entering into separate agreements with each of the credit suppliers in relation to the relevant parts of each offer to supply credit to the borrower;

wherein the arrangement of credit facilities are supplied by the credit suppliers to the borrower without the borrower entering into an agreement with the individual credit suppliers.

7. A method of credit aggregation in an arrangement including a borrower, a plurality of credit suppliers, and a credit aggregator, the method including the following steps in any order:

the credit aggregator entering into separate agreements with each of the credit suppliers for the supply of credit in accordance with offers of credit from the credit suppliers;

determining a borrower'"'"'s credit requirements;

assessing offers of credit from the credit suppliers to determine a suitable combination of credit offers to meet the needs of the borrower;

the method subsequently including the following steps of;

the credit aggregator entering into at least one agreement with the borrower to provide the suitable combination of offers, the relevant part of the combination of offers being subject of the relevant separate agreement with a credit supplier;

wherein the arrangement of credit facilities are supplied by the credit suppliers to the borrower without the borrower entering into an agreement with the individual credit suppliers.

25. A method of credit aggregation in an arrangement including a borrower, a plurality of credit suppliers and a credit aggregator the method including the steps of:

determining a borrowers credit requirements;

providing the borrower with a plurality of credit offers enabling borrowers to segment their total credit requirement amongst offers;

the credit aggregator assessing the borrowers credit capacity and performing a valuation of any security proposed by the borrower, said valuation being in accordance with procedures acceptable to credit suppliers, and submitting a request to the relevant credit suppliers whose offers are included in the segments of the borrowers total credit requirement;

the relevant credit suppliers conducting a credit risk assessment of the borrower;

in the event that the relevant credit suppliers accept the borrowers request the credit aggregator enters into separate agreements with the relevant credit suppliers to provide credit to the borrower;

the credit aggregator assembling credit terms and conditions of relevant credit suppliers and establishing at least one credit agreement with the borrower;

wherein credit is provided to the borrower by the credit aggregator without the borrower entering into an agreement with the individual relevant credit suppliers and where the credit aggregator passes to the individual relevant credit suppliers the credit and liquidity risk associated with the respective credit limits of the credit suppliers and enabling borrowers the ability to reconfigure the segments of their credit arrangement without establishing a new agreement between the borrower and the credit aggregator.

26. A method according to claim 25 including the step of:

the credit aggregator receiving payments from a plurality of borrowers in accordance with established agreements and segregating between the credit aggregator and the borrowers, those payments according to the relevant credit suppliers and forwarding the payments due to the relevant credit suppliers in accordance with established agreements between the credit aggregator and the relevant credit suppliers.

27. A system for providing credit to a prospective borrower wherein a credit aggregator agrees terms with at least one credit supplier and offers credit to borrowers up to a first limit in accordance with those terms, the credit aggregator establishing at least one credit agreement with the borrower for the purpose of providing credit to the borrower and at least one credit supply agreement with the at least one credit supplier from whom credit is obtained, the system including:

a means for the credit aggregator and credit suppliers to agree terms relating to the supply of credit;

a means for a prospective borrower to provide details of their credit requirements to the credit aggregator;

a means for the credit aggregator to assist the prospective borrower select from a range of credit supply terms to suit their credit requirements, the resulting selection forming a credit segmentation satisfying the borrower'"'"'s credit requirements;

a means for the credit aggregator to forward details of prospective borrowers to credit suppliers;

a means for the credit aggregator to administer cash flows relating to a borrowers'"'"' credit agreement with the credit aggregator and means for the credit aggregator to administer cash flows relating to credit supply agreements between the credit aggregator and the at least one credit supplier.

28. A system according to claim 27 wherein existing borrowers advise credit aggregators of changes to their circumstances affecting their credit requirements.

29. A system according to claim 27 wherein the borrower, credit aggregator and credit suppliers each operate a computing device that is operably connected to a data communications network.

30. A system according to claim 29 wherein the data communications network effects communication between the borrower, credit aggregator and credit suppliers for the transfer of information required for the establishment of at least one credit agreement between the borrower and the credit aggregator and at least one credit agreement between the credit aggregator and a credit supplier.

31. A system according to claim 29 wherein the data communications network includes the internet.

32. A system according to claim 27 wherein communication between the borrower, credit aggregator and credit suppliers occurs by electronic mail messages.

33. A system according to claim 27 wherein the credit aggregator and/or any one or more of the credit suppliers assesses the borrowers credit capacity and advises the borrower of the outcome of that assessment.

34. A system for credit aggregation in an arrangement including a borrower, a plurality of credit suppliers and a credit aggregator, the system including:

a data communication network and communication devices enabling communication between the borrower, credit aggregator and the plurality of credit suppliers;

a web-site enabling a borrower to segment their total credit requirements amongst various credit suppliers and to provide personal details and details of any security to a credit aggregator;

a first computing means operably connected to the data communications network to receive information from the web-site and operable to assess the borrowing capacity of the borrower and the value of the security offered by the borrower based upon information obtained from the web-site;

a second computing means operably connected to the data communications network to receive information from the web-site and other sources and operable to assess the credit risk of the borrower;

wherein, in the event that a borrowers request for credit is accepted, the credit aggregator enters into at least one credit agreement with the borrower and separate agreements with the credit suppliers where the credit aggregator passes to the individual credit suppliers the credit and liquidity risk associated with the credit provided by the credit suppliers.

35. In a data communications network including communication devices enabling communication between a borrower, a credit aggregator and at least one credit supplier, a method of providing credit to the borrower wherein the credit aggregator arranges the provision of credit to the borrower up to a first limit exchanging borrower and aggregator requirements over the communications network and establishing at least one credit agreement between the borrower and the aggregator, and by exchanging aggregator and supplier requirements over the data communications network and establishing at least one credit agreement between the aggregator and a credit supplier where the agreement between the borrower and aggregator is separate to the agreement between the aggregator and the at least one credit supplier.

36. A method according to claim 35 wherein the at least one credit agreement solely consists of one or more agreements between the borrower and the aggregator and/or intermediaries acting for the borrower or aggregator.

37. A method according to either claim 35 or 36 wherein the separate agreements solely consist of agreements between the aggregator and the at least one credit supplier and/or any intermediaries acting for the aggregator or credit supplier.

38. A method according to claim 35 wherein there is one credit agreement between the borrower and the credit aggregator for the purposes of providing credit to the borrower up to the first limit.

39. A method according to claim 35 wherein the first limit is segmented with each segment having a segment limit in accordance with terms agreed between the credit aggregator and individual credit suppliers from whom credit is provided.

41. A method according to claims 35 or 40 wherein for individual credit suppliers, the credit aggregator passes borrowers'"'"' payments to the credit supplier and provides credit from the credit supplier for the purpose of finding payments to the borrower.

42. A method according to claims 35 or 40 wherein the credit aggregator holds any security provided by the borrower associated with securing credit not on its own account but for the benefit of the credit suppliers.

43. A method according to claim 42 wherein the security is not exclusive for any particular credit supplier.

44. A method according to claims 35 or 40 wherein the credit agreement between the credit aggregator and the borrower includes any agreed terms between the credit aggregator and the at least one credit supplier in respect of credit provided by the at least one credit supplier.

45. A method according to claims 35 or 40 wherein the credit aggregator may vary, the credit agreement with a borrower without establishing a new credit agreement.

46. A method according to claim 45 wherein variations avoid the need for a new credit agreement and may include variations to the terms agreed between the credit aggregator and individual credit suppliers.

47. A method according to claims 35 or 40 wherein variation of the terms for any individual credit agreement includes a variation to a credit limit relating to credit provided by a credit supplier.

48. A method according to claims 35 or 40 wherein the credit aggregator establishes new agreements with new and/or existing credit suppliers and offers new credit arrangements to prospective or existing borrowers in accordance with terms associated with those new agreements.

49. A method according to claim 48 wherein upon offering a new credit arrangement to an existing borrower, the credit arrangement may be accepted by the borrower and the agreement between the borrower and the aggregator may be varied to reflect the terms and conditions of the new credit arrangement.

50. A method according to claims 35 or 40 wherein the credit aggregator extracts a commission from the borrower and/or credit suppliers as payment for their services in managing and administering the individual agreements with credit suppliers and the credit agreement with the borrower.

51. A method according to claims 35 or 40 wherein the credit aggregator passes to individual credit suppliers the credit and liquidity risk associated with the respective credit limits of the credit suppliers in the at least one credit agreement between the borrower and the credit aggregator.

52. A method according to claims 35 or 40 wherein the entity holding borrower'"'"'s collateral is a different entity as compared with that which establishes credit agreements with borrowers and credit suppliers.

53. A method according to claims 35 or 40 wherein, in the event of default on the part of a borrower, the credit suppliers are appointed as agents of the credit aggregator in order to recover any outstanding debts from the borrower.

54. A method according to claims 35 or 40 wherein, in the event of a default on the part of a borrower, the credit suppliers are empowered to enforce any security interests against the borrower.

55. A method according to claims 35 or 40 wherein the credit aggregator may enter into multiple credit agreements with borrowers and may source credit to those borrowers without entering into additional credit agreements with any individual credit suppliers.

56. A method according to claims 35 or 40 wherein a credit aggregator agrees terms with at least one credit supplier and offers credit to borrowers up to a first limit in accordance with those terms, the credit aggregator establishing at least one credit agreement with the borrower for the purpose of providing credit to the borrower and at least one credit supply agreement with the at least one credit supplier from whom credit is obtained, a system including:

a means for the credit aggregator and credit suppliers to agree terms relating to the supply of credit;

a means for a prospective borrower to provide details of their credit requirements to the credit aggregator,

a means for the credit aggregator to assist the prospective borrower select from a

range of credit supply terms to suit their credit requirements, the resulting selection forming a credit segmentation satisfying the borrower'"'"'s credit requirements;

a means for the credit aggregator to forward details of prospective borrowers to credit suppliers;

a means for the credit aggregator to administer cash flows relating to a borrowers'"'"' credit agreement with the credit aggregator and means for the credit aggregator to administer cash flows relating to credit supply agreements between the credit aggregator and the at least one credit supplier.

57. A method according to claims 35 or 40 wherein existing borrowers advise credit aggregators of changes to their circumstances affecting their credit requirements.

60. A method according to claims 35, 40, or 58 wherein the communication devices comprise personal computers.

61. A method according to claims 35, 40, or 58 wherein the communication devices used by the borrower, credit aggregator and credit suppliers include any one or more of the following:

a laptop personal computer,

a notebook personal computer;

a wireless laptop personal computer;

a wireless notebook personal computer;

a cell phone;

or

a cell phone having connection facilities for the internet.

62. A method according to claims 35, 40, or 58 wherein the data communications network comprises the internet.

63. A method according to claims 35, 40, or 58 wherein the exchange of information between the borrower, credit aggregator and credit suppliers is effected by a web-site.

40. In a data communications network including communication devices enabling communication between a borrower, a credit aggregator and at least one credit supplier, a method including the steps of:

the borrower providing details of their credit requirements over the communications network to credit aggregators;

credit suppliers providing details of available credit and supply terms to credit aggregators over the communications network;

the credit aggregator and borrower exchanging details of supply of credit with an acceptable combination of available credit from credit suppliers over the communications network and establishing at least one agreement between the borrower and the credit aggregator for supply of credit; and

the credit aggregator establishing separate agreements with each credit supplier with respect to the supply of the relative component of total credit supply to the borrower the separate agreements being established by exchanging details over the communications network

wherein the arrangement of credit facilities are supplied by the credit suppliers to the borrower without the borrower establishing an agreement with the individual credit suppliers.

58. In a data communications network including communication devices enabling communication between a borrower, a credit aggregator and a plurality of credit suppliers, a method of credit aggregation including the steps of:

the borrower providing details of their credit requirements to credit aggregators over the data communication network;

the credit aggregator providing the borrower with details of a plurality of credit offers over the communications network said plurality of credit offers enabling borrowers to segment their total credit requirement amongst offers;

the credit aggregator assessing the borrowers credit capacity and performing a valuation of any security proposed by the borrower, said valuation being in accordance with procedures acceptable to credit suppliers and submitting a request over the communications network to relevant, credit suppliers whose offers are included in the segments of the borrowers total credit requirement;

the relevant credit suppliers conducting a credit risk assessment of the borrower;

in the event that the relevant credit suppliers accept the borrowers request, the credit aggregator establishes separate agreements over the communications network with the relevant credit suppliers to provide credit to the borrower;

the credit aggregator assembling credit terms and conditions of relevant credit suppliers and establishing at least one credit agreement with the borrower over the communications network

wherein credit is provided to the borrower by the credit aggregator without the borrower entering into an agreement with the individual relevant credit suppliers and where the credit aggregator passes to the individual relevant credit suppliers the credit and liquidity risk associated with the respective credit limits of the credit suppliers and enabling borrowers the ability to reconfigure the segments of their credit arrangement without establishing a new agreement between the borrower and the credit aggregator.

59. A method according to claim 58 wherein the data communications network effects communication between the borrower, credit aggregator and credit suppliers for the transfer of information required for the establishment of at least one credit agreement between the borrower and the credit aggregator and at least one credit agreement between the credit aggregator and a credit supplier.

64. A system for providing credit to a prospective borrower including a data communication network and communication devices enabling communication between a borrower, a credit aggregator and at least one credit supplier wherein a credit aggregator establishes terms with at least one credit supplier and offers credit to borrowers up to a first limit in accordance with the terms, the credit aggregator establishing at least one credit agreement with the borrower for the purpose of providing credit to the borrower and at least one credit supply agreement with the at least one credit supplier from whom credit is obtained, the system including:

personal communication devices enabling the credit aggregator and credit suppliers to exchange details and establish terms relating to the supply of credit;

a personal communication device enabling a prospective borrower to provide details of their credit requirements to the credit aggregator;

the personal communication device of the borrower and the credit aggregator operable to enable the credit aggregator to assist the prospective borrower select from a range of credit supply terms to suit the borrowers credit requirements, the resulting selection forming a credit segmentation satisfying the borrowers requirements;

the personal communication device of the credit aggregator operable to forward details of prospective borrowers to credit suppliers and to administer cash flow relating to a borrowers credit agreement with the credit aggregator and to administer cash flows relating to credit supply agreements between the aggregator and the at least one credit supplier.

65. A system according to claim 64 wherein communication between the borrower, credit aggregator and credit suppliers occurs by electronic mail messages.

66. A system according to claim 64 wherein the data communications network includes the internet.

67. A system according to claim 64 wherein communication between the borrower, credit aggregator and credit suppliers occurs by electronic mail messages.

68. A system according to claim 64 wherein the credit aggregator and/or any one or more of the credit suppliers assesses the borrower'"'"'s credit capacity and advises the borrower of the outcome of that assessment.

69. A computer program product including computer useable medium having a computer readable program code embodied on said medium for effecting communication between a borrower, a credit aggregator and at least one credit supplier, said computer program product further including a computer readable code within said computer useable medium for:

enabling the borrower to provide details of their credit requirements to credit aggregators;

enabling credit suppliers to provide details of available credit and supply terms to credit aggregators;

enabling the credit aggregator and borrower to exchange details of supply of credit with an acceptable combination of available credit from credit suppliers and to establish at least one agreement between the borrower and the credit aggregator for supply of credit; and

enabling the credit aggregator to establish separate agreements with each credit supplier with respect to the supply of the relative component of total credit supply to the borrower

wherein the arrangement of credit facilities are supplied by the credit suppliers to the borrower without the borrower establishing an agreement with the individual credit suppliers.