Method and apparatus for performing collective validation of credential information
First Claim
1. In a computer system, a method for collectively performing validation of credential information of one or more product distributors associated with one or more product distribution transactions, the method comprising:
- processing code in the computer system to cause the computer system to perform;
obtaining a set of available credential information;
of each of the one or more product distributors associated with the one or more product distribution transactions;
storing the set of credential information in the computer system, wherein the credential information is stored in a form that can be processed by the computer system;
loading from at least one data source a set of credential validation rule data;
obtaining the one or more product distribution transactions associated with the one or more product distributors;
processing in the computer system the one or more product distribution transactions and the credential validation rule data to validate the obtained one or more product distribution transactions associated with the one or more product distributors in accordance with predetermined validation criteria to determine if the one or more transactions can be used for compensating one or more product distributors, to validate the obtained credential information of one or more product distributors associated with one or more transactions to determine whether the one or more product distributors meet eligibility requirements for compensation associated with each of the obtained product distribution transactions for the one or more product distributors, and to generate results data representing at least any validated transactions and determined-eligible product distributors; and
generating compensation data from the results data for each of the one or more product distributers to be compensated for the one or more product distribution transactions.
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Abstract
An embodiment of the invention comprises a method and apparatus for performing collective validation of credential information. The invention has applicability in industries that require sales agents or those related to the distribution of a certain product to be credentialed (e.g., licensed and/or appointed) when selling certain products (e.g., life insurance, etc. . . . ). For example, in order to sell some financial instruments sales representatives must meet state and/or federal licensing requirements. Embodiments of the invention provide a way to ensure that sales representatives operate within any regulatory constraints put in place by government or any other organization. Companies may, for instance, utilize embodiments of the invention to ensure that sales representatives operate within a set of defined constraints. One aspect of the invention provides a method for validating sales agents'"'"' credentials while processing the sales transaction data to determine commission amounts. The system is configured to perform such transaction processing in an efficient manner that minimizes the amount of computational resources required to determine whether a sales agent has valid credential at the time of a particular sale and is therefore entitled to compensation (e.g., a commission) for the sale.
18 Citations
20 Claims
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1. In a computer system, a method for collectively performing validation of credential information of one or more product distributors associated with one or more product distribution transactions, the method comprising:
processing code in the computer system to cause the computer system to perform; obtaining a set of available credential information; of each of the one or more product distributors associated with the one or more product distribution transactions; storing the set of credential information in the computer system, wherein the credential information is stored in a form that can be processed by the computer system; loading from at least one data source a set of credential validation rule data; obtaining the one or more product distribution transactions associated with the one or more product distributors; processing in the computer system the one or more product distribution transactions and the credential validation rule data to validate the obtained one or more product distribution transactions associated with the one or more product distributors in accordance with predetermined validation criteria to determine if the one or more transactions can be used for compensating one or more product distributors, to validate the obtained credential information of one or more product distributors associated with one or more transactions to determine whether the one or more product distributors meet eligibility requirements for compensation associated with each of the obtained product distribution transactions for the one or more product distributors, and to generate results data representing at least any validated transactions and determined-eligible product distributors; and generating compensation data from the results data for each of the one or more product distributers to be compensated for the one or more product distribution transactions. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20)
Specification