Loyalty-Based Credit Prescreening System

• US 20120029996A1
• Filed: 07/30/2010
• Published: 02/02/2012
• Est. Priority Date: 07/30/2010
• Status: Abandoned Application

• Current Assignee: Comenity LLC (Alliance Data Systems Corporation)
• Original Assignee: Alliance Data Systems Corporation
• Inventors: Lang, Daniel J., Robinson, Katherine Anne, Shroyer, Carla
• Application Number:
  US12/847,775
• Publication Number:
  US 20120029996A1
• Time in Patent Office: Days
• US Class Current: 705/14.27
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• 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

An integrated credit and loyalty offering to a retailer maximizes the effectiveness of both programs. The integrated system allows a retailer to enroll customers in a loyalty program, then solicit only pre-qualified customers immediately upon receipt of demographic information corresponding to the customer. The integrated system accepts transaction data from the retailer'"'"'s loyalty program through the retailer'"'"'s POS system to the credit prescreening program and awards appropriate loyalty rewards, as well as authorizing the retailer to offer credit to the pre-qualified customers. The credit prescreening process is done in real time as part of a retail transaction with the customer.

Claims

1. A method, comprising:

(a) receiving a first data corresponding to a customer from a retailer, the first data related to a loyalty account corresponding to the customer;

(b) prescreening the customer for credit responsive to the first data; and

(c) authorizing the retailer to offer credit to the customer,

wherein (a), (b), and (c) are performed as part of a transaction between the customer and the retailer.

2. The method of claim 1, prescreening comprising:

sending a credit rating request including the first data to a source of credit rating information; and

receiving a credit rating data from the source of credit rating information.

3. The method of claim 1, authorizing the retailer to offer credit to the customer comprising:

obtaining a credit rating data from a source of credit rating information corresponding to the first data;

generating a credit decision responsive to the credit rating data; and

sending an authorization data to the retailer indicating whether the customer can be offered credit responsive to the credit decision.

4. The method of claim 1,

wherein the customer is a member of a loyalty system associated with the retailer, and

wherein the first data is a loyalty account data corresponding to the customer.

5. The method of claim 1, wherein the first data comprises the customer'"'"'s name and address.

6. The method of claim 1, prescreening the customer for credit responsive to the first data comprising:

obtaining a credit rating data from a credit rating data source corresponding to the customer; and

generating a credit authorization decision responsive to the credit rating data.

7. The method of claim 1, further comprising:

(d) receiving a loyalty account data corresponding to the customer from the retailer by a loyalty system associated with the retailer; and

(e) sending the first data corresponding to the loyalty account data from the loyalty system to the retailer.

8. The method of claim 7, wherein the loyalty system is a multi-tender loyalty system.

9. The method of claim 1, further comprising:

receiving a credit application for the customer from the retailer;

creating a credit account for the customer.

10. The method of claim 1, wherein the first data is not supplied by the customer as part of the transaction.

11. The method of claim 1, further comprising:

establishing a loyalty account for the customer as part of the transaction with the retailer, comprising;

receiving the first data from the retailer; and

creating a loyalty account corresponding to the first data.

12. The method of claim 1, further comprising:

providing the retailer with a specification for changes to the retailer'"'"'s POS system in a standardized format, the changes related to (a) and (c).

13. A system, comprising:

a first processor;

a first storage subsystem, coupled to the first processor, configured to store;

a credit prescreening software, which when executed causes the processor to perform actions comprising;

(a) receiving a first data corresponding to a customer from a retailer, the first data related to a loyalty account corresponding to the customer;

(b) prescreening the customer for credit responsive to the first data; and

(c) authorizing the retailer to offer credit to the customer,

wherein (a), (b), and (c) are performed as part of a transaction between the customer and the retailer.

14. The system of claim 13, prescreening comprising:

sending a credit rating request including the first data to a source of credit rating information; and

receiving a credit rating data from the source of credit rating information.

15. The system of claim 13, authorizing the retailer to offer credit to the customer comprising:

obtaining a credit rating data from a source of credit rating information corresponding to the first data;

generating a credit decision responsive to the credit rating data; and

sending an authorization data to the retailer indicating whether the customer can be offered credit responsive to the credit decision.

16. The system of claim 13,

wherein the customer is a member of a loyalty system associated with the retailer, and

wherein the first data is a loyalty account data corresponding to the customer.

17. The system of claim 13, wherein the first data comprises the customer'"'"'s name and address.

18. The system of claim 13, prescreening the customer for credit responsive to the first data comprising:

obtaining a credit rating data from a credit rating data source corresponding to the customer; and

generating a credit authorization decision responsive to the credit rating data.

19. The system of claim 13, further comprising:

a second processor;

a second storage subsystem, coupled to the second processor, comprising storage media configured to store;

a loyalty software, which when executed causes the processor to perform actions comprising;

receiving a loyalty account data corresponding to the customer from the retailer by a loyalty system associated with the retailer; and

sending the first data corresponding to the loyalty account data from the loyalty system to the retailer.

20. The system of claim 19, wherein the loyalty software is a multi-tender loyalty software.

21. The system of claim 13, wherein the loyalty software when executed causes the processor to perform further actions comprising:

establishing a loyalty account for the customer as part of the transaction with the retailer, comprising;

receiving the first data from the retailer; and

creating a loyalty account corresponding to the first data.

22. The system of claim 13, the first storage subsystem further configured to store a credit application software that when executed causes the first processor to perform actions comprising:

receiving a credit application for the customer from the retailer; and

creating a credit account for the customer.

23. The system of claim 13, wherein the first data is not supplied by the customer as part of the transaction.

24. The system of claim 13, further comprising:

a specification for changes to the retailer'"'"'s POS system related to (a) and (c).