ANONYMOUS TRANSACTION SYSTEM
First Claim
1. A method for supplying offers for risk-based financial products, comprising:
- using a supplier computing system to electronically send supplier criteria for receiving consumer requests for risk-based financial services to an distributor computing system over a computer network, the supplier computing system operating independently and remotely from the distributor computing system;
using the supplier computing system to electronically receive a plurality of anonymous transaction profiles that satisfy the supplier criteria from the distributor computing system for consumers requesting offers for the risk-based financial services, each of the anonymous transaction profiles including anonymous consumer or business loan application information generated by the consumer that is merged with anonymous third party consumer credit information generated from a third party credit reporting agency independently from the consumer or business loan application information generated by the consumer wherein all personal information necessary for personally or individually identifying the consumer has been removed from both the consumer or business loan application information and from the third party consumer credit information prior to the anonymous transaction profiles being received by the supplier computing system;
using the supplier computing system to electronically select consumers for issuing pre-approved loan offers based entirely from the anonymous transaction profiles received from the distributor computing system without ever knowing the particular identity of the customers; and
using the supplier computing system to electronically send the pre-approved loan offers to a subset of the consumers over the computer network.
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Accused Products
Abstract
An Anonymous Transaction Service (ATS) solves or alleviates the problems outlined above. The ATS provides anonymous, automated, risk-based differential pricing that allows consumers to receive offers from multiple suppliers with only a single credit report. The ATS facilitates any offer between a supplier and consumer that first requires an evaluation of the risk associated with making the offer. The ATS can be used for any product or service, such as credit cards, home mortgages, automobile loans, appliance loans, debt consolidation loans, insurance products, advertising and dating services, to name only a few.
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Citations
20 Claims
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1. A method for supplying offers for risk-based financial products, comprising:
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using a supplier computing system to electronically send supplier criteria for receiving consumer requests for risk-based financial services to an distributor computing system over a computer network, the supplier computing system operating independently and remotely from the distributor computing system;
using the supplier computing system to electronically receive a plurality of anonymous transaction profiles that satisfy the supplier criteria from the distributor computing system for consumers requesting offers for the risk-based financial services, each of the anonymous transaction profiles including anonymous consumer or business loan application information generated by the consumer that is merged with anonymous third party consumer credit information generated from a third party credit reporting agency independently from the consumer or business loan application information generated by the consumer wherein all personal information necessary for personally or individually identifying the consumer has been removed from both the consumer or business loan application information and from the third party consumer credit information prior to the anonymous transaction profiles being received by the supplier computing system;
using the supplier computing system to electronically select consumers for issuing pre-approved loan offers based entirely from the anonymous transaction profiles received from the distributor computing system without ever knowing the particular identity of the customers; and
using the supplier computing system to electronically send the pre-approved loan offers to a subset of the consumers over the computer network. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A method of electronically providing anonymous transaction service, comprising:
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electronically submitting consumer applications to an intermediary, wherein each application contains only demographic and employment information specifically required to qualify for a product and personal information necessary to obtain a consumer credit report;
electronically obtaining the consumer credit reports and merging credit and payment information from said credit report with the consumer'"'"'s demographic and employment information;
electronically comparing the merged demographic, employment, credit, and payment information, not including personal identifiers, with the minimum criteria necessary for said product;
electronically evaluating the merged demographic, employment, credit, and payment information, not including personal identifiers, to determine the risk associated with extending credit to the consumer and to determine a product price; and
electronically providing to qualified consumers possessing the desired demographic, employment, credit, and payment characteristics pre-approved offers from suppliers willing to provide the requested product. - View Dependent Claims (14)
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15. A method of electronically providing anonymous transaction services, comprising:
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electronically communicating at an intermediary computing system over a computer network remotely with both clients, loan suppliers, and at least one third party credit bureau service;
using the intermediary computing system to electronically compile client loan application files provided by the clients over the computer network, the client loan application files including loan application data sets that contain personal client loan application information that uniquely identify the clients and is not required by the loan suppliers to make pending loan offers to the clients, the client loan application files also including loan application data sets that contain anonymous client loan information that does not uniquely identify the clients and that does provide loan information required by the loan suppliers to make pending risk-based loan offers to the clients;
using the intermediary computing system to electronically compile third party credit bureau report files from a third party credit bureau service that operates externally and independently from the intermediary computing system and externally and independently from the loan suppliers, the third party credit bureau report files including both personal client credit report information that uniquely identifies the clients but is not required by the loan suppliers to make the pending risk-based loan offers to the clients and anonymous client credit report information that does not personally identify the clients and includes at least a credit score that is required by the loan suppliers for determining whether or not to make the pending risk-based loan offers to the clients;
using the intermediary computing system to electronically separate the personal client loan application information from the anonymous client loan information in the client loan application files;
using the intermediary computing system to electronically and automatically purge the personal client credit report information from the third party credit bureau report files received from the third party credit bureau service;
using the intermediary computing system to electronically and automatically combine the separated anonymous client loan information with the anonymous client credit report information from the purged third party credit bureau report files to form anonymous loan transaction profiles;
using the intermediary computing system to electronically send the anonymous loan transaction profiles including the combined anonymous client loan information and anonymous client credit report information over the computer network to the loan suppliers without revealing the personal client loan application information and the personal client credit report information to the loan suppliers, enabling the loan suppliers to evaluate and selectively send pre-approved pending risk-based loan offers to at least one qualifying subset of the clients associated with anonymous client loan information and combined anonymous client credit report information qualifying for the pre-approved pending risk-based loan offers;
using the intermediary computing system to electronically receive the selected pre-approved pending risk-based loan offers from said loan suppliers and then forward the pre-approved pending risk-based loan offers to the clients; and
using the intermediary computing system to electronically and automatically send the personal client loan information and personal client credit report information to associated loan suppliers when for clients that accept the pre-approved pending risk-based loan offers from the associated loan suppliers. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification