METHOD AND SYSTEM FOR ASSESSING FINANCIAL RISK ASSOCIATED WITH A BUSINESS ENTITY

• US 20090112649A1
• Filed: 10/30/2007
• Published: 04/30/2009
• Est. Priority Date: 10/30/2007
• Status: Abandoned Application

• Current Assignee: Intuit, Inc.
• Original Assignee: Intuit, Inc.
• Inventors: Wernikoff, Daniel
• Application Number:
  US11/929,932
• Publication Number:
  US 20090112649A1
• Time in Patent Office: Days
• US Class Current: 705/7
• 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

Abstract

A method for assessing financial risk associated with a business entity involves recording usage data associated with a consumer business software, where the usage data describes consumer behavior associated with the consumer business software, and where the consumer business software is associated with a business entity. The method further involves generating a financial risk assessment associated with the business entity based on the usage data, and determining an approval status based on the financial risk assessment, where the approval status indicates whether the business entity is approved to receive a financial service.

Claims

1. A method for assessing financial risk associated with a business entity, comprising:

recording a plurality of usage data associated with a consumer business software,

wherein the plurality of usage data describes consumer behavior associated with the consumer business software, and

wherein the consumer business software is associated with a business entity;

generating a financial risk assessment associated with the business entity based on the plurality of usage data; and

determining an approval status based on the financial risk assessment, wherein the approval status indicates whether the business entity is approved to receive a financial service.

2. The method of claim 1, wherein the approval status indicates that the business entity is not approved to receive the financial service.

3. The method of claim 1, wherein the approval status indicates that business entity is approved to receive the financial service.

4. The method of claim 3, further comprising:

pricing the financial service for the business entity based on the financial risk assessment.

5. The method of claim 1, further comprising:

publishing the financial risk assessment for access by a business partner of the business entity.

6. The method of claim 1, wherein generating the financial risk assessment comprises comparing the plurality of usage data with historical usage data associated with other business entities.

7. The method of claim 1, wherein the financial service is a merchant account.

8. The method of claim 1, wherein the plurality of usage data comprises at least one selected from the group consisting of a lifetime usage duration, a usage frequency, a number of records stored by the consumer business software, and a historical consistency of information stored by the consumer business software.

9. A computer system comprising:

a consumer business software associated with a business entity; and

a risk assessment service configured to;

obtain a plurality of usage data associated with the consumer business software, wherein the plurality of usage data describes consumer behavior associated with the consumer business software,

generate a financial risk assessment associated with the business entity based on the plurality of usage data, and

determine an approval status based on the financial risk assessment, wherein the approval status indicates whether the business entity is approved to receive a financial service.

10. The computer system of claim 9, wherein the approval status indicates that the business entity is not approved to receive the financial service.

11. The computer system of claim 9, wherein the approval status indicates that the business entity is approved to receive the financial service.

12. The computer system of claim 11, wherein the risk assessment service is further configured to:

price the financial service for the business entity based on the financial risk assessment.

13. The computer system of claim 9, wherein the financial service is a merchant account.

14. The computer system of claim 9, wherein the risk assessment service is further configured to:

publish the financial risk assessment for access by a business partner of the business entity.

15. The computer system of claim 9, wherein the risk assessment service is configured to generate the financial risk assessment by comparing the plurality of usage data with historical usage data associated with other business entities.

16. The computer system of claim 9, wherein the plurality of usage data comprises at least one selected from the group consisting of a lifetime usage duration, a usage frequency, a number of records stored by the consumer business software, and a historical consistency of information stored by the consumer business software.

17. The computer system of claim 9, wherein the approval module requires human intervention to approve the business entity to receive the financial service.

18. A computer-readable medium comprising executable instructions for assessing financial risk associated with a business entity, wherein the executable instructions comprise instructions to:

record a plurality of usage data associated with a consumer business software, wherein the plurality of usage data describes consumer behavior associated with the consumer business software;

generate a financial risk assessment associated with the business entity based on the plurality of usage data; and

determine an approval status based on the financial risk assessment, wherein the approval status indicates whether the business entity is approved to receive a financial service.

19. The computer readable medium of claim 18, wherein the approval status indicates that the business entity is not approved to receive the financial service.

20. The computer readable medium of claim 18, wherein the approval status indicates that the business entity is approved to receive the financial service.

21. The computer readable medium of claim 20, wherein the executable instructions further comprise instructions to:

price the financial service for the business entity based on the financial risk assessment.

22. The computer readable medium of claim 18, wherein the financial service is a merchant account.

23. The computer readable medium of claim 18, wherein the executable instructions further comprise instructions to:

publish the financial risk assessment for access by a business partner of the business entity.

24. The computer readable medium of claim 18, wherein the instructions to generate the financial risk assessment comprise instructions to:

compare the plurality of usage data with historical usage data associated with other business entities.

25. The computer readable medium of claim 18, wherein the plurality of usage data comprises at least one selected from the group consisting of a lifetime usage duration, a usage frequency, a number of records stored by the consumer business software, and a historical consistency of information stored by the consumer business software.