System and method for real-time electronic inquiry, delivery, and reporting of credit information

• US 7,133,935 B2
• Filed: 11/07/2003
• Issued: 11/07/2006
• Est. Priority Date: 10/19/1999
• Status: Expired due to Term

• Current Assignee: F Poszat Hu LLC (Intellectual Ventures LLC)
• Original Assignee: Shad Hedy
• Inventors: Hedy, Shad
• Primary Examiner(s): Reagan, James A
• Application Number:
  US10/704,289
• Publication Number:
  US 20040133521A1
• Time in Patent Office: 1,096 Days
• Field of Search: 705/1, 705/14, 705/26, 705 35- 40, 705/44, 709/217, 709/230, 235/375, 235/379, 235/380, 707/3, 707/10
• US Class Current: 709/250
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• 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
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: Y10S 707/99933 Query processing, i.e. searching

Abstract

A system and method for providing electronic inquiry, delivery, and reporting of personal credit information to and from credit bureaus, via the Internet. In the preferred embodiment, the system includes a web site that, by using a web browser, allows clients to request credit information from, or provide credit reports to, credit bureaus by entering certain data on pre-built forms in a web browser-supported format. The data is encrypted using means for secure transmission, such as a web browser with at least a 128-bit secure socket layer (SSL) technology, and then sent to at least one web application executed by web server software. The web server software decrypts and reformats the data to a standard format specified by the credit bureau. The web server software initiates a query. The at least one web applications reformat the response from the credit bureau to a web browser-supported format and encrypt the data using the means for secure transmission. The web browser-supported formatted data is then sent back to the client'"'"'s computer over the Internet and displayed on the client'"'"'s web browser in an easily read format.

Claims

1. A computer program product for enabling a computer to transmit a credit bureau inquiry pertaining to a client customer to a credit bureau and receive a response to the inquiry from the credit bureau, said computer program product comprising:

software instructions for enabling the computer to perform predetermined operations; and

a computer readable medium bearing the software instructions, the predetermined operations including the steps of;

(a) displaying the credit bureau inquiry and the credit bureau response in a web browser-supported format,

(b) directing and controlling the formatting and transmitting of the credit bureau inquiry and credit bureau response between a client terminal and the credit bureau,

(c) connecting the web browser to said at least one web application via the Internet, thereby facilitating the transfer of the credit bureau inquiry from the web browser to said at least one web application and the transfer of the credit bureau response from said at least one web application to the web browser,

(d) displaying the credit report in a web browser-supported format,

(e) formatting and transmitting the credit bureau inquiry and the credit bureau response between the client terminal and the credit bureau, and

(f) connecting the web browser to said at least one web application via the Internet, thereby facilitating the transfer of the credit bureau report from the web browser to the web application;

whereby the client is able to send credit information about a client customer electronically to the service provider, the service provider then forwarding the credit information to the credit bureau, providing the ability for the client to generate an on-line credit report for submission to the credit bureau, and

whereby the client is able to enter the credit report in the web browser of the client terminal in web browser-supported format, rather than using the format required by the credit bureau, providing easier and better understandable entry of the credit information.

2. The system of claim 1, wherein the client terminal further comprises:

one of an Applet, a plug-in and an Active X that are launchable from the web browser for receiving the credit bureau inquiry and for displaying the credit bureau response on the client terminal.

3. A computer system adapted to transmit a credit bureau inquiry and a credit bureau response between a client and a credit bureau, said computer system comprising:

a processor;

a memory including software instructions that cause the computer system to perform the steps of;

(a) formatting and transmitting the credit bureau inquiry and the credit bureau response between the client terminal and the credit bureau;

(b) transmitting the credit bureau inquiry from the web browser to the web server software across the Internet;

(c) receiving the credit bureau inquiry by the web server software;

(d) converting the credit bureau inquiry, by the web server software, from web browser-supported format to a required credit bureau format;

(e) receiving the credit bureau response by the web server software;

(f) converting the credit bureau response, by the web server software, from the credit bureau format to a web browser-supported format;

(g) transmitting the credit bureau response in a web browser-supported format, from the web server software to the web browser;

(h) displaying the credit bureau response in the web browser of the client terminal in a web browser-supported format; and

(i) forwarding a credit report to the credit bureau;

(j) transmitting the credit report from the web browser to the web server software across the Internet;

(k) receiving the credit report by the web server software;

(l) converting the credit report, by the web server software, from the web browser-supported format to a required credit bureau format;

(m) storing the credit report for approximately 30 days in the computer hardware;

(n) downloading the stored credit report to a tape medium; and

(o) forwarding the tape to the credit bureau;

whereby the client is able to send credit information about a client customer electronically to the service provider, the service provider then forwarding the credit information to the credit bureau, providing the ability for the client to generate an on-line credit report for submission to the credit bureau, and

whereby the client is able to enter the credit report in the web browser of the client terminal in web browser-supported format, rather than using the format required by the credit bureau, providing easier and better understandable entry of the credit information.

4. The system of claim 3, wherein the client terminal further comprises:

one of an Applet, a plug-in and an Active X that are launchable from the web browser for receiving the credit bureau inquiry and for displaying the credit bureau response on the client terminal.