Financial data processing system and method
First Claim
1. A financial data processing system comprising:
- central processing means, including a data bank into which data is written and from which data is read, said data including financial credit transaction information representing the balance outstanding for each credit transaction, the finance charge payable for each credit transaction, the amount due and payable for each periodic payment on said credit transaction, the identity of each obligor of said credit transaction, and the deliquency of payment, if any, on each credit transaction, said central processing means having means for computing from said data each credit transaction outstanding, payment delinquencies of each credit transaction outstanding, collection history of each credit transaction, and unpaid principal balance of a credit transaction;
plural terminal means coupled to said central processing means, each terminal means being operable by an operator to write into said data bank updated financial credit transaction information;
first means at said terminal means for writing into said data bank during a single operation a batch of credit payment data representing payment amounts and the identities of respective obligors for a batch of credit transaction payments;
second means at saisd terminal means for writing into said data bank credit transaction application data representing the identity of each applicant, the amount, type and duration of the requested credit transaction, the finance charge payable on the requested credit transaction, and data representing the applicant,s ability to repay the requested credit transaction and in the event that the requested credit transaction is not completed, said application data for that requested credit transaction being retained in said data bank for at least a predetermined period of time thereafter;
plural display means coupled to said central processing means, each display means being operable to display data stored in said data bank; and
means for retrieving from said data bank and supplying to said display means payment data and credit transaction application data currently or previously written into said data bank by said operator, and summary data derived from said data bank and representing summaries of plural credit transactions outstanding, payment deliquencies of said plural credit transactions outstandiing, collection histories, and loss of amounts resulting from credit transations which are not properly repaid.
6 Assignments
0 Petitions
Accused Products
Abstract
A financial data processing system and the method of operating that system are disclosed. A central processor includes a data bank into which data is written and from which data is read, this data including financial loan information that represents the balance of each loan outstanding, the interest rate payable on each loan, the principal and interest due and payable for each periodic loan payment, the identity of each debtor, the delinquency, if any, on each loan, the collection histories of respective loans and financial information relating to leases and leased property. Plural terminals, including input means (e.g. a keyboard or the like) and display means, are coupled to the central processor, each terminal being operable to write into the data bank updated financial loan information including: (i) multiple loan payment data representing principal and interest payments and the identities of respective debtors for a batch of loan payments and multiple lease payment data, and (ii) loan application data representing the identity of each applicant, the amount, type and duration of the requested loan, the interest rate payable on the requested loan and credit data representing the applicant'"'"'s ability to repay operable to display data stored in and read from the data bank, including loan payment data and loan application data, summary data representing summaries of plural loans outstanding, payment delinquencies of the plural loans outstanding, collection histories of the loans, loss of loan principal caused by loans which are not repaid, and lease payment and property data.
-
Citations
19 Claims
-
1. A financial data processing system comprising:
-
central processing means, including a data bank into which data is written and from which data is read, said data including financial credit transaction information representing the balance outstanding for each credit transaction, the finance charge payable for each credit transaction, the amount due and payable for each periodic payment on said credit transaction, the identity of each obligor of said credit transaction, and the deliquency of payment, if any, on each credit transaction, said central processing means having means for computing from said data each credit transaction outstanding, payment delinquencies of each credit transaction outstanding, collection history of each credit transaction, and unpaid principal balance of a credit transaction; plural terminal means coupled to said central processing means, each terminal means being operable by an operator to write into said data bank updated financial credit transaction information; first means at said terminal means for writing into said data bank during a single operation a batch of credit payment data representing payment amounts and the identities of respective obligors for a batch of credit transaction payments; second means at saisd terminal means for writing into said data bank credit transaction application data representing the identity of each applicant, the amount, type and duration of the requested credit transaction, the finance charge payable on the requested credit transaction, and data representing the applicant,s ability to repay the requested credit transaction and in the event that the requested credit transaction is not completed, said application data for that requested credit transaction being retained in said data bank for at least a predetermined period of time thereafter; plural display means coupled to said central processing means, each display means being operable to display data stored in said data bank; and means for retrieving from said data bank and supplying to said display means payment data and credit transaction application data currently or previously written into said data bank by said operator, and summary data derived from said data bank and representing summaries of plural credit transactions outstanding, payment deliquencies of said plural credit transactions outstandiing, collection histories, and loss of amounts resulting from credit transations which are not properly repaid. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
-
-
18. A financial data processing system comprising central processing means including a data bank for writing in and reading out financial data of loan activity (the amount of a loan outstanding, the amount and expected dates of periodic loan payments, the interest rates of respective loans, the identities of loan customers, the delinquencies of respective loans, the histories of loan repayments, the remaining durations of respective loans, the identities of property securing respective loans);
- plural terminals coupled to said central processing means, each terminal having input means for accessing said financial data from said data bank and for entering and supplying updated financial data to said data bank at least during a loan processing transaction, means for receiving data supplied from said central processing means, and display means for displaying the accessed and entered financial data, said display means including a multi-color video display for displaying fixed predetermined informative headings in a first color, updatable financial data in a second color, variable identifying information in a third color, and erroneous entries in a fourth color, said central processing means being programmed to designate the type of data supplied to a terminal and, thus, the particular color in which that data is displayed, and said central processing means being programmed to write into said data bank only financial data that is displayed in said second color during loan processing transactions.
-
19. A method of processing financial data comprising the steps of:
-
storing in a data bank, into which data is written and from which data is read, financial credit transaction data representing the balance for each credit transaction outstanding, the finance change payable for each credit transaction, the amount due and payable for each periodic payment on said credit transaction, the identity of each obligor of said credit transaction, and the deliquency of payment, if any, on each credit transaction; operating ones of plural terminal means, which are coupled to said data bank, to write into and read from said data bank updated credit transaction data; writing into said data bank during a single operation a batch of credit payment data representing payment amounts and the identities of respective obligors for a batch of credit transaction payments; writing into said data bank credit trnasaction application data representing the identity of each applicant, the amount, type and duration of the requested credit transaction, the finance charge payable on the requested credit transaction and data representing the applicant'"'"'s ability to repay the requested credit transaction and in the event that the requested credit transaction is not completed said application data for that requested transaction being retained in said data bank for at least a predetermined period of time thereafter; and retrieving from said data bank and displaying data currently or previously written to said data bank, including payment data and credit transaction application data, and summary data derived from said data bank and representing summaries of plural credit transactions outstanding, payment deliquencies of said plural credit transactions outstanding, collection histories, and loss of amounts resulting from credit transactions which are not properly repaid.
-
Specification