Methods and systems for opening and funding a financial account online

• US 20080091591A1
• Filed: 04/27/2007
• Published: 04/17/2008
• Est. Priority Date: 04/28/2006
• Status: Abandoned Application

• Current Assignee: Fidelity Information Services, LLC (Fidelity National Information Services Incorporated)
• Original Assignee: Fidelity Information Services, LLC (Fidelity National Information Services Incorporated)
• Inventors: Egnatios, Rockne, Marineau, Gerard, Byal, Amy, Evans, Robert
• Application Number:
  US11/796,562
• Publication Number:
  US 20080091591A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 30/0224 based on user history
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• 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

Methods of systems of opening an account with a financial institution. One method can include electronically receiving account application information over at least one network. The account application information includes personal information associated with a customer requesting to open an account. The method also includes processing the account application information to assess a first risk to the financial institution of opening the account for the customer and electronically receiving funding source information. The funding source information specifies at least one of an existing credit card account and an existing debit card account. In addition, the method includes processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account. The method further includes electronically transferring funds to the account from at least one of the existing credit card account and the existing debit card account based on at least one of the first risk and the second risk.

Claims

1. A method of opening an account with a financial institution, the method comprising:

electronically receiving account application information over at least one network, the account application information including personal information associated with a customer requesting to open an account;

processing the account application information to assess a first risk to the financial institution of opening the account for the customer;

electronically receiving funding source information over at least one network, the funding source information specifying at least one of an existing credit card account and an existing debit card account;

processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account; and

electronically transferring funds to the account from at least one of the existing credit card account and the existing debit card account based on at least one of the first risk and the second risk.

2. The method of claim 1, wherein processing the account application information to assess a first risk to the financial institution of opening the account for the customer includes verifying an identity of the customer.

3. The method of claim 2, wherein verifying an identity of the customer includes providing a verification score associated with the customer.

4. The method of claim 2, wherein verifying an identity of the customer includes prompting the customer to answer at least one preset question.

5. The method of claim 1, further comprising terminating a new account opening process based on the first risk.

6. The method of claim 1, wherein processing the account application information to assess a first risk to the financial institution of opening the account for the customer includes determining a risk score associated with the customer.

7. The method of claim 1, further comprising terminating a new account opening process based on the second risk.

8. The method of claim 1, wherein processing the funding source information to assess a second risk to the financial institution of transferring funds from a funding source includes determining a risk score associated with the funding source.

9. The method of claim 1, wherein processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account includes attempting to match at least a portion of the funding source information with at least a portion of the account application information.

10. The method of claim 9, wherein attempting to match at least a portion of the funding source information with at least a portion of the account application information includes processing previously-collected debit data.

11. The method of claim 1, further comprising determining at least one funding constraint for the account based on at least one of the first risk and the second risk.

12. The method of claim 1, further comprising placing a hold on the account based on the second risk.

13. The method of claim 12, further comprising prompting a customer for new funding source information.

14. An account management system for opening an account with a financial institution, the system comprising:

an input/output interface receiving account application information and funding source information from at least one remote device, the account application information including personal information associated with a customer requesting to open an account and the funding source information specifying at least one of an existing credit card account and an existing debit card account;

a processor processing the account application information to assess a first risk to the financial institution of opening the account for the customer, processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account, and electronically transferring funds to the account from at least one of the existing credit card account and the existing debit card account based on at least one of the first risk and the second risk.

15. The system of claim 14, wherein the processor terminates a new account opening process based on the first risk.

16. The system of claim 14, wherein the processor processes the account application information to assess a first risk to the financial institution of opening an account for the customer by verifying an identity of the customer.

17. The system of claim 14, wherein the processor processes the account application information to assess a first risk to the financial institution of opening the account for the customer by determining a risk score associated with the customer.

18. The system of claim 14, wherein the processor terminates a new account opening process based on the second risk.

19. The system of claim 14, wherein the processor processes the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account funding source by determining a risk score associated with the funding source.

20. The system of claim 14, wherein the processor processes the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account by attempting to match at least a portion of the funding source information with at least a portion of the account application information.

21. The system of claim 20, wherein the processor attempts to match at least a portion of the funding source information with at least a portion of the account application information by processing previously-collected debit.

22. A system for opening an account with a financial institution, the system comprising:

an account management system;

at least one network; and

at least one remote device electronically transmitting account application information and funding source information to the account management system over the at least one network, the application account information including personal information about a customer requesting to open an account and the funding source information specifying at least one of an existing credit card account and an existing debit card account;

the account management system processing the account application to assess a first risk to the financial institution of opening the account for the customer, processing the funding source information to assess a second risk to the financial institution of transferring funds from at least one of the existing credit card account and the existing debit card account, and electronically transferring funds to the account from at least one of the existing credit card account and the existing debit card account based on at least one of the first risk and the second risk.