Methods and systems for financial transactions

• US 8,660,943 B1
• Filed: 03/04/2012
• Issued: 02/25/2014
• Est. Priority Date: 08/31/2011
• Status: Expired due to Fees

• Current Assignee: BTPatent, LLC
• Original Assignee: BTPatent, LLC
• Inventors: Chirehdast, Mehran
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US13/411,564
• Time in Patent Office: 723 Days
• Field of Search: None
• US Class Current: 705/38
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

Relationship banking and mobile banking are discussed and presented here. In Section 1, we present Pre-approval, Fulfillment, and Application Process. In Section 2, we present Financial Products for Protection of Consumers. In Section 3, we present Relationship-Based Score. In Section 4, we present Application of Credit Report for a “Binding” Pre-Approval for Lending Products. In Section 5, we present Deposit Slip Purchase. In Section 6, we present Reducing Frauds on Credit Cards. We also discuss the system and components, with different variations on system and method, or their designs. Sections 7-9 discuss other applications and examples.

Claims

1. A method of customizable offering for an automotive loan product by a lender, said method comprising:

a vehicle-specific section input interface module receiving a vehicle identification number for a vehicle;

a verification device or module verifying make, model, or year of said vehicle;

receiving a mileage value of said vehicle from a mileage input interface module;

receiving a condition of said vehicle;

an estimator device or module evaluating a value of said vehicle, either using said mileage of said vehicle, said condition of said vehicle, and said vehicle identification number for said vehicle, or using a price quoted by a dealer;

receiving location information of said user;

a fee calculator device or module providing applicable taxes and fees, using said location information of said user and a database or table for listing or rate of said applicable taxes and fees;

receiving financing options for one or more of following;

extended vehicle warranty, total loss protection, life and unemployment debt protection, or financing fees;

receiving personal information about said user;

a lender computer receiving credit information from credit bureau servers about said user;

a monthly payment affordability tool calculating available options for said user, based on said received financing options, said provided applicable taxes and fees, said value of said vehicle, said credit information about said user, and said received personal information about said user;

storing said calculated available options for said user in a customer database;

said lender computer receiving a down-payment amount value that said user desires to pay;

said lender computer receiving an installment payment amount value that said user desires to pay;

said lender computer receiving a length of time value for said automotive loan that said user desires to obtain;

said lender computer receiving a type of loan for said automotive loan, in terms of fixed or variable rate, said user desires to obtain;

said lender computer receiving a number of payments per month or per year for said automotive loan said user desires to obtain;

said lender computer communicating with said verification device or module;

said lender computer communicating with said estimator device or module;

said lender computer communicating with lender underwriting rules database;

said lender computer communicating with a lender underwriting rules engine;

said lender computer communicating with a loan origination and application system;

said loan origination and application system communicating with a loan and financing options rules database;

said loan origination and application system communicating with a loan and financing options rules engine;

said lender computer communicating with loan and financing options rules database;

said lender computer communicating with a loan and financing options rules engine;

said lender computer calculating a set of personalized loan parameters based on said down-payment amount value that said user desires to pay, said installment payment amount value that said user desires to pay, said length of time value for said automotive loan that said user desires to obtain, said type of loan for said automotive loan in terms of fixed or variable rate said user desires to obtain, and said number of payments per month or per year for said automotive loan said user desires to obtain;

said lender computer determining whether said set of personalized loan parameters is feasible, with respect to said calculated available options for said user, stored in said customer database;

wherein in case said set of personalized loan parameters is feasible, an output device sends a notice of approval to said user;

wherein in case said set of personalized loan parameters is not feasible, said lender computer asks said user to change at least one of following, to repeat steps in said method again;

said down-payment amount value that said user desires to pay, said installment payment amount value that said user desires to pay, said length of time value for said automotive loan that said user desires to obtain, said type of loan for said automotive loan in terms of fixed or variable rate said user desires to obtain, and said number of payments per month or per year for said automotive loan said user desires to obtain.

2. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

receiving information about other loans.

3. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

receiving information from other banks or lenders.

4. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

receiving information from other divisions of said lender.

5. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

applying rules regarding maximum allowable monthly payments.

6. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

applying federal or local banking rules.

7. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

comparing cost and coverage for said user.

8. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

suggesting alternative automobile options for said user.

9. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

suggesting alternative payment options for said user.

10. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

suggesting alternative loan options for said user.

11. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

adding cosigner for said user.

12. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

applying to multiple lenders or banks for said user.

13. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

comparing multiple lenders or banks for said user.

14. The method of customizable offering for an automotive loan product by a lender as recited in claim 1, said method comprising:

presenting refinancing options for said user.