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Credit approval system

  • US 5,774,882 A
  • Filed: 10/25/1993
  • Issued: 06/30/1998
  • Est. Priority Date: 03/12/1992
  • Status: Expired due to Fees
First Claim
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1. An automated security credit checking system comprising:

  • main computer system processor means;

    computer terminal means electronically connected to said main computer processor means for receiving and scanning original credit applications and envelope postmarks from envelopes of the original credit applications wherein a scanned credit application and envelope postmark is formed when a credit application and envelope postmark is scanned;

    system memory means for storing said scanned credit application and envelope postmark that is sent to said system memory means from said computer terminal means;

    inputter terminal means electronically connected to said main computer system processor for allowing review of said scanned credit application and envelope postmark for legibility, wherein said scanned credit application and envelope postmark is sent to said inputter terminal means from said system memory means;

    verification terminal means electronically connected to said main computer system processor means for determining whether said scanned credit application contains suspected fraud by comparing a mailing address of the application to a location from the envelope postmark and suspecting fraud if the mailing address and postmark location are different;

    verified fraudulent application terminal means electronically connected to said main computer system processor means for processing said scanned credit application after determining that said scanned credit application contains verified fraud;

    review terminal means electronically connected to said main computer system processor means for receiving said scanned credit application after processing by said verification terminal means when said verification terminal means determines than no fraud exists in said scanned application; and

    tallies means electronically connected to said main computer system processor means for calculating totals and percentages of applications received and approved on a daily basis.

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