Systems and Methods for Providing Loans in Response to the Occurrence of Predetermined Events
First Claim
1. A method of providing funds to a customer upon the occurrence of one or more pre-determined events, the method comprising the steps ofgenerating a user interface configured to receive loan application input from a customer including a designation of an associated savings vehicle;
- upon approval of the loan application, calculating a periodic payment to be received from the customer; and
providing a guaranteed loan to said customer upon the occurrence of the one or more pre-determined events.
1 Assignment
0 Petitions
Accused Products
Abstract
Systems, methods, and computer program products are provided that allow customers to build equity (e.g., by adding money to their selected savings vehicle) feeling secure in knowing that, should they undergo one of the pre-determined events, they will have access to a low/no interest loan (or other loan) that will help them get through that period of crisis. The financial product may offer customers a collateralized loan during a time of need, the ability to set and redefine savings goals to reflect changes in a customer'"'"'s life, savings on fees as collateral grows, the waiver of monthly fees during benefit period and for a one-month grace period, and a manageable payback schedule once the benefit period begins.
85 Citations
31 Claims
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1. A method of providing funds to a customer upon the occurrence of one or more pre-determined events, the method comprising the steps of
generating a user interface configured to receive loan application input from a customer including a designation of an associated savings vehicle; -
upon approval of the loan application, calculating a periodic payment to be received from the customer; and providing a guaranteed loan to said customer upon the occurrence of the one or more pre-determined events. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12)
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13. A computer readable storage medium comprising computer-executable instructions for:
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generating a user interface configured to receive loan application input from a customer including a designation of an associated savings vehicle; receiving information regarding a savings vehicle account balance; and calculating a periodic payment to be received from the customer based at least in part on the savings vehicle account balance, wherein a guaranteed loan is provided to said customer upon the occurrence of the one or more pre-determined events and the guaranteed loan is secured by the savings vehicle. - View Dependent Claims (14, 15, 16, 17, 18, 19, 20, 21)
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22. A system for providing funds to a customer upon the occurrence of one or more pre-determined events, the system comprising:
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a first user computer connected to a network and configured to receive loan application input from a customer; a Product Implementation Server connected to the network, wherein the Product Implementation Server is configured to receive information from, process, and transmit information to the first user computer via the network, wherein the Product Implementation Server is configured to receive at least some of the loan application input from the first user computer, to receive information regarding a savings vehicle associated with the customer, and to calculate a periodic payment to be received from the customer based at least in part on the loan application information and a savings vehicle account balance, wherein a guaranteed loan is provided to said customer upon the occurrence of the one or more pre-determined events and the guaranteed loan is secured by the savings vehicle. - View Dependent Claims (23, 24, 25, 26, 27, 28, 29, 30, 31)
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Specification