Computer-Implemented Methods, Program Product, And System For Micro-Loan Product Management

• US 20090164363A1
• Filed: 12/18/2008
• Published: 06/25/2009
• Est. Priority Date: 12/21/2007
• Status: Active Grant

• Current Assignee: Pathward National Association
• Original Assignee: MetaBank (Meta Financial Group Incorporated)
• Inventors: Miller, Eric, Sorbe, Trent, Ahlers, Rebecca, Larson, Troy, Galit, Scott
• Granted Patent: US 8,818,887 B2
• 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 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• 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

Embodiments of the present invention include methods, program product and systems for card and bank product management. An embodiment of a method of advancing funds to a banking customer, for example, includes establishing a line of credit with a bank through an on-line access interface with the bank, determining whether access to funds through the line of credit should occur for a customer transaction and providing one or more preselected increments of funds for the customer transaction. A cumulative amount of the one or more preselected increments, for example, can be less than a total available line of credit for a customer having an established line of credit with the bank. The method further includes decrementing the total available line of credit by the cumulative amount of the one or more preselected increments provided for the customer transaction and a predetermined fee amount for each preselected increment of funds.

Claims

1. A system to advance funds to a customer, the system comprising:

a plurality of customer access interface devices;

a remote computer server positioned to provide communication with each of the plurality of customer access interface devices and being associated with a financial institution, the computer server having memory; and

program product stored in the memory of the computer server so that the program product operates to perform the following set of instructions;

establishing a line of credit for a customer with the financial institution through at least one of the plurality of access interface devices with the remote computer server, the at least one access interface device being defined to provide access to a line of credit product if of the financial institution for interface with a potential customer to establish the line of credit,

determining whether access to finds through the line of credit should occur for a customer transaction,

initiating provision of only one or more preselected increments of funds for the customer transaction, a cumulative amount of the one or more preselected increments being less than a total available line of credit for a customer having an established line of credit with the financial institution, and

decrementing the total available line of credit by the cumulative amount of the one or more preselected increments provided for the customer transaction and by a predetermined fee amount for each of the one or more preselected increments of funds.

2. A system of claim 1, wherein the program product further operates to perform the instructions of:

establishing a direct deposit for the customer with the financial institution prior to the establishing of a line of credit, the direct deposit including a direct deposit history so that determination of whether to establish a line of credit with the customer is responsive to the direct deposit history; and

continuing to monitor the direct deposit history so that a determination of whether to change terms associated with the line of credit with the customer is made responsive to the direct deposit history.

3. A system of claim 1, wherein the bank comprises a first bank, wherein the program product is further associated with a demand deposit account of a second bank, and wherein the program product further operates to perform the following instruction:

decrementing a designated direct deposit from the demand deposit account for repayment of at least portions of the line of credit.

4. A system of claim 1, further comprising associating the line of credit with one or more prepaid cards so that usage of the one or more prepaid cards occurs during the customer transaction.

5. A system of claim 1, wherein the program product further operates to perform the following instruction:

enhancing customer borrowing options over time responsive to one or more of the following;

positive repayment history, direct deposit history, and positive underwriting determination; and

wherein the customer borrowing options include the customer receiving one or more of the following;

longer repayment terms, an option to repay over multiple pay periods, additional line of credit amount, and lower fees.

6. A system of claim 1, wherein the program product farther operates to perform the instruction:

enhancing customer borrowing options prior to establishing the line of credit by the customer and responsive to one or more of the following of the customer;

positive repayment history, selection of direct deposit option, positive direct deposit history, and positive underwriting determination.

7. A system of claim 1, wherein the program product further operates to perform the following instruction:

repaying at least portions of the line of credit responsive to a subsequent direct deposit received for customer'"'"'s benefit by the bank so that the repayment of the at least portions of the line of credit is deducted from the subsequent direct deposit.

8. A program product stored in one or more tangible computer readable media and readable by a computer so that the program product operates to perform the following instructions when read by the computer:

establishing a line of credit for a customer with a bank through an access interface with the bank;

determining whether access to finds through the line of credit should occur;

providing one or more preselected increments of funds, the preselected increments being less than a total available line of credit with the bank; and

decrementing the total available line of credit by the one or more preselected increments and by a predetermined fee amount for each of the one or more preselected increments of funds.

9. A program product of claim 8, wherein the program product further operates to perform the following instructions:

establishing a direct deposit prior to the establishing of a line of credit, the direct deposit including a direct deposit history so that determination of whether to establish a line of credit is responsive to the direct deposit history; and

continuing to monitor the direct deposit history so that a determination of whether to change terms associated with the line of credit with the customer is made responsive to the direct deposit history.

10. A program product of claim 8, wherein the bank comprises a first bank, wherein the program product is farther associated with a demand deposit account of a second bank, and wherein the program product further operates to perform the following instruction:

decrementing a designated direct deposit from the demand deposit account for repayment of at least portions of the line of credit.

11. A program product of claim 8, further comprising associating the line of credit with one or more prepaid cards so that usage of the one or more prepaid cards occurs during the customer transaction.

12. A program product of claim 8, further operating to perform the following instruction:

enhancing customer borrowing options over time responsive to one or more of the following;

positive repayment history, direct deposit history, and positive underwriting determination; and

wherein the customer borrowing options include the customer receiving one or more of the following;

longer repayment terms, an option to repay over multiple pay periods, additional line of credit amount, and lower fees.

13. A program product of claim 8, wherein the operating further comprises enhancing customer borrowing options prior to establishing the line of credit by the customer and responsive to one or more of the following of the customer:

positive repayment history, selection of direct deposit option, positive direct deposit history, and positive underwriting determination.

14. A program product of claim 8, wherein the operating farther comprises repaying at least portions of the line of credit responsive to a subsequent direct deposit received for customer'"'"'s benefit by the bank so that the repayment of the at least portions of the line of credit is deducted from the subsequent direct deposit.

15. A computer-implemented method of advancing funds to customer of a bank, the computer-implemented method comprising:

establishing a line of credit for a customer with a bank by a computer associated with a bank defining a bank computer through an access interface with the bank, the access interface being defined to include a computer display device providing visible access to a bank line of credit product to interface with a potential customer to establish the line of credit;

determining by a bank computer whether access to funds through the line of credit should occur for a customer transaction;

providing only one or more preselected increments of finds for the customer transaction by a bank computer, a cumulative amount of the one or more preselected increments being less than a total available line of credit for a customer having an established line of credit with the bank; and

decrementing the total available line of credit by the cumulative amount of the one or more preselected increments provided for the customer transaction and by a predetermined fee amount for each of the one or more preselected increments of funds.

16. A computer-implemented method of claim 15, further comprising:

establishing a direct deposit for the customer prior to the establishing of a line of credit, the direct deposit including a direct deposit history;

determining by an online loan processor whether a customer qualifies for the line of credit responsive to the direct deposit history and prior to establishing the line of credit so that determination of whether to establish a line of credit with the customer is responsive to the direct deposit history, the online loan processor being accessible to the customer through the access interface and having an application program interface to the bank; and

continuing to monitor the direct deposit history so that a determination of whether to change terms associated with the line of credit with the customer is made responsive to the direct deposit history.

17. A computer-implemented method of claim 15, wherein the bank comprises a first bank, and the method further comprises associating the line of credit with a demand deposit account at a second bank and decrementing a designated direct deposit from the demand deposit account of the second bank for repayment of at least portions of the line of credit.

18. A computer-implemented method of claim 15, further comprising enhancing customer borrowing options over time by a bank computer responsive to one or more of the following:

positive repayment history, direct deposit history, and positive underwriting determination; and

wherein the customer borrowing options include the customer receiving one or more of the following;

longer repayment terms, an option to repay over multiple pay periods, additional line of credit amount, and lower fees.

19. A computer-implemented method of claim 15, further comprising enhancing customer borrowing options by a bank computer prior to establishing the line of credit by the customer and responsive to one or more of the following of the customer:

positive repayment history, selection of direct deposit option, positive direct deposit history, and positive underwriting determination.

20. A computer-implemented method of claim 15, further comprising:

repaying at least portions of the line of credit responsive to a subsequent direct deposit received for customer'"'"'s benefit by the bank so that the repayment of the at least portions of the line of credit is deducted from the subsequent direct deposit; and

associating the line of credit with one or more prepaid cards so that usage of the one or more prepaid cards occurs during the customer transaction.