KNOW YOUR CUSTOMER EXCHANGE SYSTEM AND METHOD
First Claim
1. A computer implemented method for initiating a financial service at a financial institution, the method comprising:
- receiving, by a computer, a request from a client computer for a financial service associated with a financial institution, wherein the request comprises a selection of a country and a selection of the financial institution;
determining, by the computer, one or more know your customer (KYC) requirements associated with the selected financial institution;
determining, by the computer, one or more country requirements that are associated with the selected country;
determining, by the computer, whether a set at least one documents stored in a corporate vault memory satisfies the one or more KYC requirements, and whether the set of at least one documents satisfies the one or more country requirements;
calculating, by the computer, an extent to which the set of at least one documents satisfies the one or more KYC requirements and the one or more country requirements; and
presenting, by the computer, for each selected financial institution in each selected country, an indicator of the extent to which the at least one documents satisfies the one or more KYC requirements and the one or more country requirements.
2 Assignments
0 Petitions
Accused Products
Abstract
The systems and methods described herein attempt to overcome the drawbacks discussed above by providing a know your customer (KYC) exchange system and method that allows for easy transmission of corporate and individual identification information to a selected financial institution. The KYC exchange system, which may be implemented by a bank, a corporation, or other party, receives as an input the laws and practicalities of a plurality of nations and regions, as well as KYC business policies of a plurality of financial institutions located across the plurality of nations and regions. Using the collected input information, the system is able to provide feedback to individuals and corporations using the exchange system regarding whether the individual or corporation has provided all of the requested and necessary identification and financial services information.
18 Citations
36 Claims
-
1. A computer implemented method for initiating a financial service at a financial institution, the method comprising:
-
receiving, by a computer, a request from a client computer for a financial service associated with a financial institution, wherein the request comprises a selection of a country and a selection of the financial institution; determining, by the computer, one or more know your customer (KYC) requirements associated with the selected financial institution; determining, by the computer, one or more country requirements that are associated with the selected country; determining, by the computer, whether a set at least one documents stored in a corporate vault memory satisfies the one or more KYC requirements, and whether the set of at least one documents satisfies the one or more country requirements; calculating, by the computer, an extent to which the set of at least one documents satisfies the one or more KYC requirements and the one or more country requirements; and presenting, by the computer, for each selected financial institution in each selected country, an indicator of the extent to which the at least one documents satisfies the one or more KYC requirements and the one or more country requirements. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19)
-
-
20. A system for preparing documents for a financial service comprising:
-
a know your customer (KYC) requirements repository storing one or more KYC requirements associated one or more financial institutions; a country requirements repository storing one or more country requirements associated with one or more countries; a corporate vault memory storing one or more packages and one or more documents, wherein each package comprises a set of one or more documents selected from the one or more documents stored in the corporate vault memory; a client computer transmitting a request for a financial service associated with a package, wherein the request comprises a selection of a country and a selection of a financial institution; an exchange server processor receiving the request and configured to calculate a completion score based on an extent to which the package satisfies the one or more KYC requirements associated with the selected financial institution and the one or more country requirements associated with the selected country, wherein the package is a complete package when the completion score indicates that the package satisfies all requirements. - View Dependent Claims (21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36)
-
Specification