Pre-paid card transaction computer to load a loan on a pre-paid card
First Claim
1. A computer associated with a financial institution defining a financial institution computer to facilitate activating a plurality of prepaid card accounts and to release a plurality of loan proceeds to the plurality of prepaid card accounts, the financial institution computer comprising:
- one or more processors;
one or more input/output units;
one or more non-transitory computer-readable mediums encoded with computer program operable on a financial institution computer, the computer program comprising a set of instructions that when executed by the financial institution computer causes the financial institution computer to perform the operations of;
converting loan data received in a first preselected loan processing format into a second preselected loan processing format to thereby be compatible with one or more of a plurality of prepaid card processors responsive to receiving the loan data from one or more of a plurality of lending institution computers in the first preselected loan processing format, the loan data being associated with a plurality of approved loans approved by one or more lending institutions associated with the one or more of the plurality of lending institution computers;
communicating the loan data in a compatible format to the one or more of the plurality of prepaid card processors to thereby request activations of one or more of the plurality of prepaid cards accounts, the one or more of the plurality of prepaid card processors each having a preselected processing format being different format than the first preselected processing format and different from each other; and
releasing loan proceeds of one or more of the plurality of loans pending activation of the one or more of the plurality of prepaid card accounts to the one or more of the plurality of prepaid card processors so that the loan proceeds are available to one or more of a plurality of corresponding borrowers, the releasing being responsive to a receiving notification from the one or more of the plurality of prepaid card processors that the one or more of the plurality of prepaid card accounts have been activated.
2 Assignments
0 Petitions
Accused Products
Abstract
A loan transaction for a pre-paid card is approved for a borrower so that release of the loan proceeds is pending an activation of a pre-paid card. A financial institution computer converts loan data to be compatible with a prepaid card processor. The prepaid card processor activates a pre-paid card account responsive to an activation request on behalf of the borrower. The financial institution computer releases the pending loan proceeds to the pre-paid card processor so that the loan proceeds are released to the borrower and are immediately available to thereby convert the pre-paid card into a loan delivery apparatus.
308 Citations
20 Claims
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1. A computer associated with a financial institution defining a financial institution computer to facilitate activating a plurality of prepaid card accounts and to release a plurality of loan proceeds to the plurality of prepaid card accounts, the financial institution computer comprising:
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one or more processors; one or more input/output units; one or more non-transitory computer-readable mediums encoded with computer program operable on a financial institution computer, the computer program comprising a set of instructions that when executed by the financial institution computer causes the financial institution computer to perform the operations of; converting loan data received in a first preselected loan processing format into a second preselected loan processing format to thereby be compatible with one or more of a plurality of prepaid card processors responsive to receiving the loan data from one or more of a plurality of lending institution computers in the first preselected loan processing format, the loan data being associated with a plurality of approved loans approved by one or more lending institutions associated with the one or more of the plurality of lending institution computers; communicating the loan data in a compatible format to the one or more of the plurality of prepaid card processors to thereby request activations of one or more of the plurality of prepaid cards accounts, the one or more of the plurality of prepaid card processors each having a preselected processing format being different format than the first preselected processing format and different from each other; and releasing loan proceeds of one or more of the plurality of loans pending activation of the one or more of the plurality of prepaid card accounts to the one or more of the plurality of prepaid card processors so that the loan proceeds are available to one or more of a plurality of corresponding borrowers, the releasing being responsive to a receiving notification from the one or more of the plurality of prepaid card processors that the one or more of the plurality of prepaid card accounts have been activated. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. Non-transitory computer-readable medium encoded with computer program operable on a computer associated with a financial institution computer to define a financial institution computer, the computer program comprising a set of instructions that when executed by the financial institution computer causes the financial institution computer to perform operations of:
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converting loan data received in a first preselected loan processing format into a second preselected loan processing format to thereby be compatible with one or more of a plurality of prepaid card processors responsive to receiving the loan data from one or more of a plurality of lending institution computers in the first preselected loan processing format, the loan data being associated with a plurality of approved loans approved by one or more lending institutions associated with the one or more of the plurality of lending institution computers; communicating the loan data in a compatible format to the one or more of the plurality of prepaid card processors to thereby request activations of one or more of the plurality of prepaid cards accounts, the one or more of the plurality of prepaid card processors each having a preselected processing format being different format than the first preselected processing format and different from each other; and releasing loan proceeds of one or more of the plurality of loans pending activation of the one or more of the plurality of prepaid card accounts to the one or more of the plurality of prepaid card processors so that the loan proceeds are available to one or more of a plurality of corresponding borrowers, the releasing being responsive to a receiving notification from the one or more of the plurality of prepaid card processors that the one or more of the plurality of prepaid card accounts have been activated. - View Dependent Claims (10, 11, 12, 13)
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14. A computer-implemented method to facilitate activating a plurality of prepaid card accounts and to release a plurality of loan proceeds to the plurality of prepaid card accounts, the method comprising:
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converting, by a computer associated with a financial institution to define a financial institution computer, loan data received in a first preselected loan processing format into a second preselected loan processing format to thereby be compatible with one or more of a plurality of prepaid card processors responsive to receiving the loan data from one or more of a plurality of lending institution computers in the first preselected loan processing format, the loan data being associated with a plurality of approved loans approved by one or more lending institutions associated with the one or more of the plurality of lending institution computers; communicating, by financial institution computer, the loan data in a compatible format to the one or more of the plurality of prepaid card processors to thereby request activations of one or more of the plurality of prepaid cards accounts, the one or more of the plurality of prepaid card processors each having a preselected processing format being different format than the first preselected processing format and different from each other; and releasing, by financial institution computer, loan proceeds of one or more of the plurality of loans pending activation of the one or more of the plurality of prepaid card accounts to the one or more of the plurality of prepaid card processors so that the loan proceeds are available to one or more of a plurality of corresponding borrowers, the releasing being responsive to a receiving notification from the one or more of the plurality of prepaid card processors that the one or more of the plurality of prepaid card accounts have been activated. - View Dependent Claims (15, 16, 17, 18, 19, 20)
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Specification