Real-time credit rating using a single financial account

• US 20060106695A1
• Filed: 11/12/2004
• Published: 05/18/2006
• Est. Priority Date: 11/12/2004
• Status: Abandoned Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Rodriguez, Herman, Carlson, Michael P.
• Application Number:
  US10/988,469
• Publication Number:
  US 20060106695A1
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/403 Solvency checks
• 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

Abstract

Provided is a real-time method for calculating a credit report based upon information associated with a single, integrated financial account. The account has an associated balance based upon deposits and withdrawals, regardless of the type of transaction that generated a particular deposit or withdrawal. An account history is maintained and employed to calculate a credit rating. The rating is determined by an inspection of the integrated account. Information associated with the account is transferable. As deposits and withdrawals are made to an account, the credit rating can be adjusted in real-time. Metric information such as the frequency of deposits and withdrawals can be used as a factor in the calculation of a credit rating. Payment made by another customer on a co-signed loan, can also be a factor. Collateral deemed appropriate may be placed in the account and the customer'"'"'s credit rating adjusted to reflect the value of the collateral.

Claims

1. A method for determining a credit rating based upon a single financial account, the method comprising:

establishing, for an account holder, a single financial account having one or more assets and liability components;

entering transactions corresponding to one or more of the components;

creating an account history based upon the transactions; and

assigning a credit rating to the account holder based upon the account history.

2. The method of claim 1, further comprising:

determining a frequency to the transactions and an amount corresponding to each of the transactions based upon the account history; and

assigning a credit rating to the account holder based upon the determination.

3. The method of claim 1, further comprising:

analyzing the value of all cash and non-cash asset components of the single financial account; and

modifying the credit rating based upon the asset analysis.

4. The method of claim 3, wherein at least one asset component is collateral.

5. The method of claim 1, further comprising:

analyzing a financial obligation corresponding to all cash and non-cash liability components of the single financial account; and

modifying the credit rating based upon the liability analysis.

6. The method of claim 5, wherein at least one liability component is a co-sign agreement.

7. The method of claim 1, wherein the types of components may include:

a checking account;

a savings account;

a mortgage account;

a credit card account; and

a personal loan account.

8. A system for determining a credit rating based upon a single financial account, the system comprising:

a single financial account, corresponding to an accountholder, having one or more assets and liability components;

transactions corresponding to one or more of the components;

an account history based upon the transactions; and

logic for assigning a credit rating to the account holder based upon the account history.

9. The system of claim 8, further comprising:

logic for determining a frequency to the transactions and an amount corresponding to each of the transactions based upon the account history; and

logic for assigning a credit rating to the account holder based upon the determination.

10. The system of claim 8, further comprising:

logic for analyzing the value of all cash and non-cash asset components of the single financial account; and

logic for modifying the credit rating based upon the asset analysis.

11. The system of claim 10, wherein at least one asset component is collateral.

12. The system of claim 8, further comprising:

logic for analyzing a financial obligation corresponding to all cash and non-cash liability components of the single financial account; and

logic for modifying the credit rating based upon the liability analysis.

13. The system of claim 12, wherein at least one liability component is a co-sign agreement.

14. The system of claim 8, wherein types of components may include:

a checking account;

a savings account;

a mortgage account;

a credit card account; and

a personal loan account.

15. A computer programming product for determining a credit rating based upon a single financial account, comprising:

a memory;

a single financial account corresponding to an account holder having one or more assets and liability components;

logic, stored on the memory, for entering transactions corresponding to one or more of the components;

an account history, stored on the memory, based upon the transactions; and

logic, stored on the memory, for assigning a credit rating to the account holder based upon the account history.

16. The computer programming product of claim 15, further comprising:

logic, stored on the memory, for determining a frequency to the transactions and an amount corresponding to each of the transactions based upon the account history; and

logic, stored on the memory, for assigning a credit rating to the account holder based upon the determination.

17. The computer programming product of claim 15, further comprising:

logic, stored on the memory, for analyzing the value of all cash and non-cash asset components of the single financial account; and

logic, stored on the memory, for modifying the credit rating based upon the asset analysis.

18. The computer programming product of claim 17, wherein at least one asset component is collateral.

19. The computer programming product of claim 15, further comprising:

logic, stored on the memory, for analyzing a financial obligation corresponding to all cash and non-cash liability components of the single financial account; and

logic, stored on the memory, for modifying the credit rating based upon the liability analysis.

20. The computer programming product of claim 19, wherein at least one liability component is a co-sign agreement.