SYSTEM AND METHOD FOR RETAIL ON-LINE ACCOUNT OPENING

• US 20100042542A1
• Filed: 08/12/2009
• Published: 02/18/2010
• Est. Priority Date: 08/12/2008
• Status: Abandoned Application

• Current Assignee: Branch Banking & Trust Company (Truist Financial Corp.)
• Original Assignee: Branch Banking & Trust Company (Truist Financial Corp.)
• Inventors: Kinney, Patricia, Whorf, Barbara, Zickafoose, Douglas Joel, Kaperdal, Paal, Rose, Teresa
• Application Number:
  US12/540,179
• Publication Number:
  US 20100042542A1
• Time in Patent Office: Days
• US Class Current: 705/42
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/1085 involving automatic teller machines [ATMs]
• CPC Class Codes: G06Q 20/26 Debit schemes, e.g. "pay now"
• 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
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system and method for a retail customer interfacing with a financial institution through a computer network is presented. The method includes a verification of customer-provided information with a pre-existing client identification profile for the customer, a determination of the customer'"'"'s credit score using a set of predetermined criteria, and presenting a set of account options based at least in part on the verification of the customer-provided information and the customer'"'"'s credit score. Additional customer-provided information may be received and verified and used to enroll the customer in one or more programs offered by the financial institution at a predefined level based at least on one or more predetermined factors.

Claims

1. A method of interfacing with a financial institution using a computer interface, the method comprising the steps of:

(a) receiving an interface request from a customer after the customer has reached, via a path through a computer network, a predetermined webpage for the financial institution;

(b) presenting a first content to the customer;

(c) receiving a first input from the customer;

(d) receiving from the customer a first set of information;

(e) presenting the first set of information to the customer for review by the customer and receiving a second set of information from the customer wherein the second set of information comprises the first set of information and any modifications to the first set of information made by the customer;

(f) presenting to the customer a set of terms and conditions;

(g) receiving an application from the customer;

(h) verifying at least a part of the second set of information;

(i) determining the customer'"'"'s credit score representative of the customer'"'"'s credit as using a first set of predetermined criteria;

(j) presenting to the customer a set of account options and associated terms and conditions wherein the account options presented are based at least in part on the verification of the second set of information and the customer'"'"'s credit score;

(k) receiving a second input from the customer;

(l) verifying the second input;

(m) determining if the customer is to be enrolled for a debit card or an automated teller machine (“

ATM”

) card;

(n) processing the customer for the debit card or ATM card enrollment;

(o) determining if the customer is to be enrolled in an online banking program;

(p) reserving account numbers at the financial institution if the customer is approved for the online banking program;

(q) presenting to the customer information related to the customer'"'"'s approved products, accounts, or enrollments; and

(r) sending a communication to the customer indicating approval of the customer'"'"'s approved products, accounts, or enrollments.

2. The method of claim 1 further comprising the steps of:

(s) adding or updating the customer'"'"'s identification information at the financial institution;

(t) performing a risk analysis on the customer;

(u) performing a fraud analysis on the customer;

(v) opening a new account for the customer at the financial institution based on the customer'"'"'s approved products, accounts, or enrollments;

(w) processing the customer'"'"'s approved online banking enrollment;

(x) initiating a fund transfer to the new customer account;

(y) adding an overdraft protection account at the financial institution for the customer;

(z) linking the debit card or ATM card to the new customer account;

(aa) ordering a credit card for the customer;

(ab) processing fulfillment information; and

(ac) sending a communication to the customer indicating funding of the new customer account.

3. The method of claim 1 wherein the first content includes at least one of a checking account, a savings account, and an online only savings account.

4. The method of claim 1 wherein the first content is selected from the group consisting of:

certificate of deposit, individual retirement account, retirement account, a 401(k) account, tax-deferred college savings account, and combinations thereof.

5. The method of claim 1 wherein the first content is determined by the path through the computer network.

6. The method of claim 1 wherein the first content includes a list of products, and wherein one of the products is automatically highlighted on a display device being viewed by the customer wherein the product highlighted is based on the path through the computer network.

7. The method of claim 1 wherein the first set of information includes at least one of:

an online client user identification and password for the customer;

the customer'"'"'s last name; and

the last four digits of the customer'"'"'s social security number.

8. The method of claim 1 wherein the second set of information includes at least one of the customer'"'"'s personal information and a co-applicant associated with the customer.

9. The method of claim 1 wherein the verifying at least a part of the second set of information includes determining a first verification information, evaluating the first verification information, querying the customer, verifying the customer'"'"'s answers to the queries, and authenticating the customer based on the first verification information and the customer'"'"'s answers.

10. The method of claim 1 wherein the first set of predetermined criteria includes at least one of a determination of whether the customer is a new or existing client of the financial institution, a determination of whether the customer has been identified as a fraudster or abuser by the financial institution, a determination of whether the customer has been identified as a fraudster by a second financial institution, and a determination of whether a customer identity verification score for the customer exceeds a predetermined threshold.

11. The method of claim 1 wherein the second input includes at least one of sending a check by mail to the financial institution, making a deposit at a branch of the financial institution, electronically transferring funds to the financial institution from a source outside of the financial institution, and providing funding from a preexisting account at the financial institution.

12. The method of claim 1 wherein the customer can choose a personal identification number for the debit card or the ATM card.

13. A method of interfacing with a financial institution using a computer interface, the method comprising the steps of:

(a) receiving an interface request from a customer after the customer has reached, via a path through a computer network, a predetermined webpage for the financial institution;

(b) presenting a list of products to the customer wherein the list of products presented is determined at least in part by the path through the computer network;

(c) receiving a choice of one or more products from the customer;

(d) receiving from the customer a first set of identification information;

(e) reviewing the first set of customer identification information;

(i) if the first set of customer identification information is not verified, requesting a second set of customer identification information;

(ii) if the first set of customer identification information is verified, evaluating a predetermined client identification profile (“

CIP”

) for the customer;

(A) if the CIP is acceptable, displaying the customer'"'"'s personal information on the customer'"'"'s display device;

determining if there is a co-applicant associated with the customer and if so, collecting and verifying a set of co-applicant identification information;

(B) if the CIP is not acceptable, requesting a third set of customer identification information;

(f) if the second or third set of customer identification information has been received;

(i) determining if the customer is located within an operating area of the financial institution;

(ii) if the customer is not located within an operating area of the financial institution, obtaining a secondary residence location from the customer;

(iii) determining if there is a co-applicant associated with the customer and if so, collecting and verifying a set of co-applicant identification information;

(g) presenting terms and conditions to the customer for at least one of the one or more products chosen by the customer; and

(h) receiving an application from the customer for at least one of the one or more products chosen by the customer.

14. The method of claim 13 wherein the terms and conditions presented to the customer include at least one of an electronic disclosure, a retail bank services agreement a state pricing guide, a corporate privacy notice, and a tax identification number certification.

15. The method of claim 13 further wherein steps (e)(ii)(A) and (e)(ii)(B) are replaced with the steps of:

(i) if the CIP is not acceptable;

(i) evaluating a first verification index;

(ii) if the first verification index is acceptable, querying the customer and verifying the customer'"'"'s first answers, if the customer'"'"'s first answers are almost acceptable, querying the customer a second time and verifying the customer'"'"'s second answers;

(iii) if the first verification index is not acceptable of if the customer'"'"'s first or second answers are not acceptable, determining if the customer is an existing client of the financial institution;

(A) placing the customer in a pending status if the customer is an existing client of the financial institution;

(B) ending the process if the customer is not an existing client of the financial institution;

(j) if the CIP is acceptable or if the customer'"'"'s first answers are acceptable, determining if there is a co-applicant associated with the customer; and

(k) if there is a co-applicant associate with the customer;

(i) evaluating a second verification index;

(ii) if the second verification index is not acceptable, determining if the customer is an existing client of the financial institution;

(A) placing the customer in a pending status if the customer is an existing client of the financial institution;

(B) ending the process if the customer is not an existing client of the financial institution.

16. The method of claim 13 further comprising the steps of:

(i) determining if the customer'"'"'s choice of one or more products includes a demand deposit account (“

DDA”

);

(j) if the DDA is chosen by the customer, determining and evaluating a first set of verification data;

(k) if the DDA is not chosen by the customer or if the evaluation of the first set of verification data is not acceptable, determining a second set of verification data;

(l) determining if a co-applicant is associated with the customer and if so, determining and evaluating a third set of verification data;

(m) if there is no co-applicant associated with the customer or if the third set of verification data is acceptable;

evaluating the second set of verification data if the second set of verification data was determined;

(n) if either the second or third set of verification data is not acceptable, determining if the customer is an existing client of the financial institution;

(i) placing the customer in a pending status if the customer is an existing client of the financial institution;

(ii) ending the process if the customer is not an existing client of the financial institution; and

(o) if the second set of verification data is acceptable or was not determined, approving the customer for a DDA.

17. The method of claim 16 wherein the evaluation of the second or third verification data includes applying a predetermined set of business rules.

18. The method of claim 17 wherein the predetermined set of business rules includes a go/no go decision of at least one of a social security number evaluation, a tax identification number evaluation, an identity theft evaluation, a retail indicator evaluation, a previous inquiries evaluation, a closure summary evaluation, and a closure details evaluation.

19. The method of claim 13 further comprising the steps of:

(i) determining if the customer has requested an option package and if so, presenting the option package terms to the customer;

(j) receiving funding information from the customer;

(k) verifying the customer'"'"'s funding information;

(l) determining if the customer'"'"'s funding information is valid and if the funding information is not valid, requesting additional funds from the customer;

(m) determining if the customer is eligible for a debit card and if the customer is eligible for a debit card, determining customer debit card information;

(n) if the customer is not eligible for a debit card, determining if the customer is eligible for an automated teller machine (“

ATM”

) card and if the customer is eligible for an ATM card, determining customer ATM card information;

(o) determining if the customer is an online banking client of the financial institution for the debit card or the ATM card and if the customer is not an online banking client of the financial institution, determining customer online banking information; and

(p) determining if the customer is approved for the debit card or the ATM card and if so, generating account numbers at the financial institution for at least one account associated with the customer and presenting final summary information to the customer, otherwise placing the customer in a review process.

20. The method of claim 19 further comprising the steps of:

(q) if the customer is an online banking client of the financial institution, determining if a new client identification profile (“

CIP”

) is to be created for the customer and if so, updating an existing set of customer information;

(r) if the customer is not an online banking client of the financial institution, determining if a set of customer information exists and if not, creating a set of customer information;

(s) determining if there is a co-applicant associated with the customer and if so, determining if a set of co-applicant information exists and if a set of co-applicant information does not exist, creating a set of co-applicant information;

(t) performing a hot list check of the customer;

(i) if there is a hit on the hot list check of the customer, waiting a predetermined amount of time and reperforming the hot list check of the customer;

(ii) if there is a hit on the reperformance of the hot list check of the customer, ending the process;

(u) performing a risk rating of the customer;

(v) determining if there is a co-applicant associated with the customer and if so, performing a hot list check of the co-applicant;

(i) if there is a hit on the hot list check of the co-applicant, waiting a predetermined amount of time and reperforming the hot list check of the co-applicant;

(ii) if there is a hit on the reperformance of the hot list check of the co-applicant, ending the process; and

(w) performing a risk rating of the co-applicant.

21. The method of claim 19 further comprising the steps of:

(q) determining if the customer'"'"'s choice of one or more products includes a demand deposit account (“

DDA”

) and if so, creating a DDA for the customer;

(r) determining if the customer'"'"'s choice of one or more products includes a savings account (“

SAV”

) and if so, creating a SAV for the customer;

(s) linking the customer to at least one of the DDA or the SAV accounts;

(t) determining if the customer has accepted any additional offers presented by the financial institution and if so, updating a list of preapproved products for the customer;

(u) determining if the customer has selected to enroll in an online banking program and if so, enrolling the customer in the online banking program;

(v) determining if the customer'"'"'s funding information includes funding via an internal transfer within the financial institution and if so, initiating the internal transfer;

(w) determining if the customer'"'"'s funding information includes funding via an external transfer and if so, initiating the external transfer;

(x) determining if the customer has an existing debit card or automated teller machine (“

ATM”

) card with the financial institution and if so, adding a new account at the financial institution to the existing debit card or ATM card account;

(y) determining if the customer has selected overdraft protection and if so, determining if the customer has selected a new line of credit;

(i) if the customer has selected a new line of credit, generating a new credit line (“

CRL”

) account number, creating a new CRL account, and linking the new CRL account to the customer;

(ii) if the customer has not selected a new line of credit, determining if the customer has selected to use an existing CRL account;

(iii) linking either the existing CRL account or the new CRL account to the customer'"'"'s DDA;

(iv) if the customer has not selected a new line of credit and if the customer has not selected to use an existing CRL account, determining if the customer has selected to use an existing SAV and if so, linking the existing SAV to the customer'"'"'s DDA; and

(z) determining if the customer has selected a credit card and if so, initiating an order for the credit card.