SYSTEMS AND METHODS FOR CREDIT WORTHINESS SCORING AND LOAN FACILITATION
First Claim
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1. A computer-implemented method for generating a financial score, comprising:
- collecting a first data set of user-independent information;
collecting a second data set of user information;
aggregating information from the first data set with information from the second data set to create an aggregate data set;
storing the aggregate data set on a computer readable medium;
estimating an income path for a user on the basis of information in the aggregate data set;
determining risk associated with the income path; and
generating a financial score for the user.
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Abstract
The present invention relates to methods, systems and computer readable media for generating a financial score. In an embodiment, the method for generating a financial score comprises collecting and aggregating sets of data, estimating income paths based on the collected data, determining risk associated with the income path and generating a financial score. Exemplary systems and computer readable media include program code for executing a method for generating a financial score and processing financial instruments on a network.
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Citations
31 Claims
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1. A computer-implemented method for generating a financial score, comprising:
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collecting a first data set of user-independent information; collecting a second data set of user information; aggregating information from the first data set with information from the second data set to create an aggregate data set; storing the aggregate data set on a computer readable medium; estimating an income path for a user on the basis of information in the aggregate data set; determining risk associated with the income path; and generating a financial score for the user. - View Dependent Claims (2, 3, 4, 5)
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6. Computer readable media comprising program code that when executed by a programmable processor causes execution of a method for generating a financial score, the computer readable media comprising:
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program code for collecting a first data set of user-independent information; program code for collecting a second data set of user information; program code for aggregating information from the first data set with information from the second data set to create an aggregate data set; program code for storing the aggregate data set on a computer readable medium; program code for estimating an income path for a user on the basis of information in the aggregate data set; program code for determining risk associated with the income path; and program code for generating a financial score for the user. - View Dependent Claims (7, 8, 9, 10)
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11. A computerized system for generating a financial score, the system comprising:
a computer readable medium having program code that when executed by a programmable processor causes the programmable processor to execute a method for generating a financial score, comprising; program code for collecting a first data set of user-independent information; program code for collecting a second data set of user information; program code for aggregating information from the first data set with information from the second data set to create an aggregate data set; program code for storing the aggregate data set on the computer readable medium; program code for estimating an income path for a user on the basis of information in the aggregate data set; program code for determining risk associated with the income path; and program code for generating a financial score for the user. - View Dependent Claims (12, 13, 14, 15)
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16. A method for processing financial instruments on a network, comprising:
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displaying, on a networked device, an offer to enter into a financial contract associated with a borrower; auctioning the financial contract to a plurality of lenders; providing borrower information to a given lender, the borrower information comprising a score; receiving bid information from the given lender, the bid information from the given lender matched to the financial contract; and storing auction information on a computer readable medium. - View Dependent Claims (17, 18, 19, 20)
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21. Computer readable media comprising program code that when executed by a programmable processor causes execution of a method for processing financial instruments on a network, the computer readable media comprising:
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program code for providing an offer to enter into a financial contract associated with a borrower; program code for auctioning the financial contract to a plurality of lenders; program code for providing borrower information to a given lender, the borrower information comprising a score; program code for receiving bid information from the given lender, the bid information from the given lender matched to the financial contract; and program code for storing auction information on a computer readable medium. - View Dependent Claims (22, 23, 24, 25)
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26. A system for processing financial instruments on a network, the system comprising:
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providing an offer to enter into a financial contract associated with a borrower; auctioning the financial contract to a plurality of lenders; providing borrower information to a given lender, the borrower information comprising a score; receiving bid information from the given lender, the bid information from the given lender matched to the financial contract; and storing auction information on a computer readable medium. - View Dependent Claims (27, 28, 29, 30)
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31. A method for processing financial contracts online, the method comprising:
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providing a social network interface to connect a borrower with a plurality of lenders; using a pricing engine to generate a financial score for the borrower on the basis of an income path and an input received from the borrower; executing program code associated with the pricing engine on a processor; generating terms for a financial contract associated with the borrower on the basis of the income path and the input received from the borrower; auctioning the financial contract associated with the borrower to a plurality of lenders; and using a peer-to-peer model to allow a given lender to place a fractional bid on the financial contract associated with the borrower.
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Specification