Automatic financial account processing system
First Claim
1. An automatic account processing system for allowing an applicant to establish a financial account over a communication network at a remote interface, said account processing system comprising:
- a. a remote interface adapted to;
i. allow an applicant to remotely request a financial account; and
ii. receive data from an applicant;
b. a data processing system with associated memory for verifying the applicant'"'"'s identity based on data obtained from the applicant and information about the applicant obtained from at least one database containing information about the applicant'"'"'s identity;
c. a communication interface electronically coupling the data processing system to the remote interface; and
d. without human assistance, the data processing system adapted to;
i. receive the data from the applicant at the remote interface;
ii. send documentation required by regulation regarding the financial account to the applicant at the remote interface;
iii. receive acknowledgement of the documentation required by regulation by the applicant at the remote interface;
iv. access the at least one database for information relevant to the applicant'"'"'s identity;
v. verify the applicant'"'"'s identity by comparing certain of the information received from the applicant with certain of the information received from the at least one database relevant to the applicant'"'"'s identity;
vi. determine in closed loop and without human assistance if the applicant'"'"'s requested financial account is approved based on the verification of the applicant'"'"'s identity; and
vii. send a result to the remote applicant interface informing the applicant whether or not establishment of the requested financial account was approved.
3 Assignments
0 Petitions
Accused Products
Abstract
A method and apparatus for closed loop, automatic processing of typical financial transactions, including loans, setting up checking, savings and individual retirement accounts, obtaining cashier'"'"'s checks, ordering additional checks, issuing credit and debit cards, wire transferring money, and so on. The transactions are provided from a kiosk and controlled by a computer controller interacting with the consumer. In the case of loans, a computer controller helps the consumer in the completion of the application, performs the underwriting, and transfers funds. The computer controller obtains the information needed to process the application, determines whether to approve the loan, effects electronic fund transfers to the applicant'"'"'s deposit account, and arranges for automatic withdrawals to repay the loan. The computer controller reviews documentation requirements including consumer lending and other required documentation with the consumer and obtains acknowledgment of acceptance of terms by having the consumer sign an electronic signature pad. Copies of documents with a digital photograph are printed out by a printer in the kiosk for the consumer. Finally, the kiosk has the capability of imprinting a credit or debit card in response to a consumer request.
156 Citations
54 Claims
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1. An automatic account processing system for allowing an applicant to establish a financial account over a communication network at a remote interface, said account processing system comprising:
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a. a remote interface adapted to;
i. allow an applicant to remotely request a financial account; and
ii. receive data from an applicant;
b. a data processing system with associated memory for verifying the applicant'"'"'s identity based on data obtained from the applicant and information about the applicant obtained from at least one database containing information about the applicant'"'"'s identity;
c. a communication interface electronically coupling the data processing system to the remote interface; and
d. without human assistance, the data processing system adapted to;
i. receive the data from the applicant at the remote interface;
ii. send documentation required by regulation regarding the financial account to the applicant at the remote interface;
iii. receive acknowledgement of the documentation required by regulation by the applicant at the remote interface;
iv. access the at least one database for information relevant to the applicant'"'"'s identity;
v. verify the applicant'"'"'s identity by comparing certain of the information received from the applicant with certain of the information received from the at least one database relevant to the applicant'"'"'s identity;
vi. determine in closed loop and without human assistance if the applicant'"'"'s requested financial account is approved based on the verification of the applicant'"'"'s identity; and
vii. send a result to the remote applicant interface informing the applicant whether or not establishment of the requested financial account was approved. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27)
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28. A method for providing automatic closed loop financial account processing over a communication network at a remote interface, comprising the steps of, without human assistance:
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a. receiving data about the applicant applying for a financial account from the remote interface;
b. sending documentation required by regulation regarding the financial account to the applicant at the remote interface;
c. receiving acknowledgement of the documentation required by regulation by the applicant at the remote interface;
d. accessing at least one database for information relevant to the applicant'"'"'s identity;
e. verifying the applicant'"'"'s identity by comparing certain of the information received from the applicant with certain of the information received from the at least one database relevant to the applicant'"'"'s identity;
f. determining in closed loop and without human assistance if the applicant'"'"'s requested financial account is approved based on the verification of the applicant'"'"'s identity; and
g. sending a result to the remote applicant interface informing the applicant whether or not establishment of the requested financial account was approved. - View Dependent Claims (29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54)
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Specification