Cross Border Competencies Tool

• US 20140324673A1
• Filed: 04/30/2013
• Published: 10/30/2014
• Est. Priority Date: 04/30/2013
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Malvey, Kevin, Carey, George S., Oxford, Molly, Davidson, Fani, Kell, Anthony
• Application Number:
  US13/874,214
• Publication Number:
  US 20140324673A1
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

According to one embodiment, an apparatus may comprise a memory, a network interface, and a processor communicatively coupled to the memory and to the network interface. The memory may store information associated with a first loan, the information comprising a competitor product selected to fund the first loan. The network interface may receive a request associated with a second loan. The processor may determine that the first loan is similar to the second loan. The network interface may further communicate, in response to the processor determining that the first loan is similar to the second loan, a message indicating that the competitor product should be offered to fund the second loan.

Claims

1. An apparatus, comprising:

a memory operable to store information associated with a first loan, the information comprising a competitor product selected to fund the first loan;

a network interface operable to receive a request associated with a second loan; and

a processor communicatively coupled to the memory and to the network interface and operable to determine that the first loan is similar to the second loan;

wherein the network interface is further operable to communicate, in response to the processor determining that the first loan is similar to the second loan, a message indicating that the competitor product should be offered to fund the second loan.

2. The apparatus of claim 1, wherein:

the information further comprises a currency associated with the first loan and an exchange rate associated with the currency; and

the message further indicates an expected profit associated with the second loan based at least in part upon the exchange rate associated with the currency.

3. The apparatus of claim 1, wherein the information further comprises a second product that was not offered to fund the first loan.

4. The apparatus of claim 1, wherein the message further indicates a risk associated with using the competitor product to fund the second loan.

5. The apparatus of claim 1, wherein:

the request further indicates a country associated with the second loan and a currency associated with the second loan; and

the network interface is further operable to communicate a second message indicating that, based on the currency and the country, a second product is selectable for servicing the second loan.

6. The apparatus of claim 1, wherein the message comprises a first list of products that were offered to fund the first loan and a second list of products that were not offered to fund the first loan.

7. The apparatus of claim 1, wherein the message further indicates a reason that the competitor product was selected to fund the first loan.

8. A method, comprising:

storing information associated with a first loan, the information comprising a competitor product selected to fund the first loan;

receiving a request associated with a second loan;

determining that the first loan is similar to the second loan; and

communicating, in response to the processor determining that the first loan is similar to the second loan, a message indicating that the competitor product should be offered to fund the second loan.

9. The method of claim 8, wherein:

the information further comprises a currency associated with the first loan and an exchange rate associated with the currency; and

the message further indicates an expected profit associated with the second loan based at least in part upon the exchange rate associated with the currency.

10. The method of claim 8, wherein the information further comprises a second product that was not offered to fund the first loan.

11. The method of claim 8, wherein the message further indicates a risk associated with using the competitor product to fund the second loan.

12. The method of claim 8, wherein:

the request further indicates a country associated with the second loan and a currency associated with the second loan; and

the method further comprises the step of communicating a second message indicating that, based on the currency and the country, a second product is selectable for servicing the second loan.

13. The method of claim 8, wherein the message comprises a first list of products that were offered to fund the first loan and a second list of products that were not offered to fund the first loan.

14. The method of claim 8, wherein the message further indicates a reason that the competitor product was selected to fund the first loan.

15. A system, comprising:

a storage element operable to store information associated with a first loan, the information comprising a competitor product selected to fund the first loan;

a communication element operable to receive a request associated with a second loan; and

a processing element communicatively coupled to the memory and to the network interface and operable to determine that the first loan is similar to the second loan;

wherein the communication element is further operable to communicate, in response to the processor determining that the first loan is similar to the second loan, a message indicating that the competitor product should be offered to fund the second loan.

16. The system of claim 15, wherein:

the information further comprises a currency associated with the first loan and an exchange rate associated with the currency; and

the message further indicates an expected profit associated with the second loan based at least in part upon the exchange rate associated with the currency.

17. The system of claim 15, wherein the information further comprises a second product that was not offered to fund the first loan.

18. The system of claim 15, wherein the message further indicates a risk associated with using the competitor product to fund the second loan.

19. The system of claim 15, wherein:

the request further indicates a country associated with the second loan and a currency associated with the second loan; and

the communication element is further operable to communicate a second message indicating that, based on the currency and the country, a second product is selectable for servicing the second loan.

20. The system of claim 15, wherein the message comprises a first list of products that were offered to fund the first loan and a second list of products that were not offered to fund the first loan.

21. The system of claim 15, wherein the message further indicates a reason that the competitor product was selected to fund the first loan.