CREDIT REPORTING INTERFACE

• US 20110161218A1
• Filed: 09/22/2010
• Published: 06/30/2011
• Est. Priority Date: 09/22/2009
• Status: Abandoned Application

• Current Assignee: Cortera, Inc. (Moody's Corporation)
• Original Assignee: Cortera, Inc. (Moody's Corporation)
• Inventors: SWIFT, James P.
• Application Number:
  US12/888,138
• Publication Number:
  US 20110161218A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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 system and method for providing, in real time via the Internet, the exchange of credit information pertaining to assessing credit worthiness of a business. The exchange is an electronic inquiry, delivery, or reporting of credit information from individuals or companies to be accessed via Internet by a user community. In a preferred embodiment, the system includes a web site that, by using a web browser, allows clients to assess credit worthiness by accessing credit information in real time from a business, or provide credit data about a business by entering credit data in a web browser-supported format. The data is encrypted using means for secure transmission, such as a web browser, and then sent to at least one web application executed by web server software. The web server software coordinates and displays the credit data and allows for easy access by the user community, through a web browser, and displayed in an easily read format.

Claims

1. A computer-implemented method of deriving an objective credit history profile comprising:

receiving a request from a user;

retrieving data regarding the business from at least one source;

building the objective opinion profile from the data retrieved from the source; and

displaying the objective opinion profile of the business to the user in a real time format via the Internet.

2. The method of claim 1, wherein the source is an individual.

3. The method of claim 1, wherein the source is a second business.

4. The method of claim 1, wherein the data may be selected from the group consisting of:

spending behavior, supplier volume, shipping data, spending level, accounts receivable data, debt collection, debt payment, industry, amount past due, amount owed and balance.

5. The method of claim 1, wherein the method further comprises real time display and submission of financial data, credit or payment history for users.

6. A method of predicting a credit worthiness of a business, the method comprising:

listing reliability characteristics including at least one business-provided reliability characteristic and at least one non-business-provided reliability characteristic;

collecting credit data about the business for a user community;

computing a business credit reliability metric predicting reliability of the merchant by applying each of the collected data values about the business as a contribution to a business reliability metric of the business; and

presenting the business reliability metric to a potential customer of the business.

7. The method of claim 6, wherein the characteristics may be selected from the group consisting of:

spending behavior, supplier volume, shipping data, spending level, accounts receivable data, debt collection, debt payment, industry, amount past due, amount owed and balance.

8. The method of claim 6, wherein the method further comprises real time display and submission of financial data, credit or payment history for users.

9. A real time, internet based credit monitoring and reporting system, comprising:

a first process for accepting at least one credit rating value associated with a borrower, said at least one credit rating value being generated by at least one credit reporting user;

a second process for accepting additional data pertaining to said borrower'"'"'s credit status, said additional data including data not considered by said at least one credit reporting user;

a third process responsive to said at least one credit rating value and said additional data to generate a custom credit rating value for said borrower.

10. The system of claim 9, wherein the value associated with the borrower may be selected from the group consisting of:

spending behavior, supplier volume, shipping data, spending level, accounts receivable data, debt collection, debt payment, industry, amount past due, amount owed and balance.

11. The system of claim 9, wherein the system further comprises real time display and submission of financial data, credit or payment history for users.

12. The system of claim 9, wherein the system further comprises real time display and submission of financial data, credit or payment history for businesses.

13. The system of claim 9, wherein allowing users to ascertain or submit data or comments or feedback or advice relating to various financial services or payment history.

14. The system of claim 9, wherein the credit data is received in specific intervals of time.

15. The system of claim 9, further comprising determining, by at least one computer processor, a credit worthiness value by analyzing at least one credit reporting data.

16. The system of claim 9, wherein the user is an individual.

17. The system of claim 9, wherein the user is a business.

18. The system of claim 17, wherein the user is a small business.