System and method for modular electronic signature block

• US 8,121,946 B1
• Filed: 08/01/2006
• Issued: 02/21/2012
• Est. Priority Date: 08/01/2006
• Status: Active Grant

• Current Assignee: United Services Automobile Association
• Original Assignee: United Services Automobile Association
• Inventors: Zettner, Steven Dale, DiGiacomo, Ron, Arguello, Michael
• Primary Examiner(s): Havan, Thu-Thao
• Assistant Examiner(s): Liu, Jennifer
• Application Number:
  US11/461,735
• Time in Patent Office: 2,030 Days
• Field of Search: 705 35- 40
• US Class Current: 705/40
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/3825 Use of electronic signatures
• 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

Method and system are directed to capturing consumer agreement to the terms of a transaction conducted online. The method/system uses a modular electronic signature block that may be applied to electronic versions of any standardized form. The electronic signature is implemented in a non-invasive way that does not alter or replace the contents of the electronic forms. The modular nature of the electronic signature block allows a separate electronic signature to be used for each online form, or a single electronic signature for multiple online forms. The online forms themselves are generated by populating a generic template of the standardized forms with consumer-specific data. The electronically-signed forms may thereafter be stored as data for a particular template. Such an arrangement provides a more secure, reproducible, verifiable, and unalterable means of capturing consumer consent, thereby allowing consumer transactions to be conducted entirely online.

Claims

1. A method of facilitating a commercial transaction requiring financing by a lending institution, the method comprising:

utilizing a memory and one or more processors in a number of computing apparatuses, wherein the one or more processors execute program instructions stored in the memory to perform the method for;

receiving, by at least one of the number of computing apparatuses, financing application information via a network from a consumer involved in said commercial transaction, said financing application information including information required to determine whether said consumer is eligible for said financing;

determining, by at least one of the number of computing apparatuses, whether said consumer is eligible for said financing based on said financing application information;

presenting, by at least one of the number of computing apparatuses, a financing agreement to said consumer over said network, said financing agreement having a physical signature block and a modular electronic signature block appended thereto, where said modular electronic signature block is applicable to a plurality of agreements;

obtaining, by at least one of the number of computing apparatuses, an electronic signature from said consumer for said financing agreement via said modular electronic signature block, wherein said electronic signature is a personal identification number that locks said modular electronic signature block so that no further entries may be made to said modular electronic signature block;

providing, by at least one of the number of computing apparatuses, a personal identification number authentication code that replaces said personal identification number as authentication for said electronic signature, wherein said personal identification number authentication code is generated simultaneously with obtaining said personal identification number from said consumer;

discarding, by at least one of the number of computing apparatuses, said personal identification number after generation of said personal identification number authentication code and using said personal identification number authentication code when said electronic signature authentication is needed;

maintaining one or more data files related to the financing agreement and a reference to a template used to create the financing agreement along with the personal identification number authentication code, a document authentication code for the financing agreement, and a specific encryption algorithm used;

reproducing a copy of the financial agreement from the maintained data files, template reference, personal identification number authentication code, document authentication code for the financing agreement, and specific encryption algorithm;

generating, by at least one of the number of computing apparatuses, a unique transaction identification for said financing in response to determining that said consumer is eligible for said financing; and

electronically, by at least one of the number of computing apparatuses, providing said unique transaction identification to said consumer via said network.

2. The method according to claim 1, wherein said modular electronic signature block is non-invasive, such that said generic modular electronic signature block does not modify a content of the plurality of agreements.

3. The method according to claim 1, wherein said financing agreement includes a plurality of sub-agreements, further comprising appending said modular electronic signature block to each of the plurality of sub-agreements.

4. The method according to claim 1, wherein said personal identification number (PIN) is previously provided to said consumer and said obtaining comprises entry by said consumer of said PIN in said modular electronic signature block.

5. The method according to claim 1, further comprising generating, by at least one of the number of computing apparatuses, said authentication code for said consumer.

6. The method according to claim 1, further comprising generating, by at least one of the number of computing apparatuses, the document authentication code for said financing agreement from consumer information and financing terms in the financing agreement.

7. The method according to claim 1, wherein said commercial transaction comprises an automobile purchase.

8. A system of facilitating a commercial transaction requiring financing by a lending institution, the system comprising at least one subsystem having a computing device with a processor and memory for storing executable instructions that are executable by the processor, wherein the processor is configured to:

receive financing application information via a network from a consumer involved in said commercial transaction, said financing application information including information required to determine whether said consumer is eligible for said financing;

determine whether said consumer is eligible for said financing based on said financing application information;

present a financing agreement to said consumer over said network, said financing agreement having a physical signature block and a modular electronic signature block appended thereto, where said modular electronic signature block is applicable to a plurality of agreements;

obtain an electronic signature from said consumer for said financing agreement via said modular electronic signature block, wherein said electronic signature is a personal identification number that locks said modular electronic signature block so that no further entries may be made to said modular electronic signature block;

provide a personal identification number authentication code that replaces said personal identification number as authentication for said electronic signature, wherein said personal identification number authentication code is generated simultaneously with obtaining said personal identification number from said consumer;

discard said personal identification number after generation of said personal identification number authentication code and use said personal identification number authentication code when said electronic signature authentication is needed;

maintain one or more data files related to the financing agreement and a reference to a template used to create the financing agreement along with the personal identification number authentication code, a document authentication code for the financing agreement, and a specific encryption algorithm used;

reproduce a copy of the financial agreement from the maintained data files, template reference, personal identification number authentication code, document authentication code for the financing agreement, and specific encryption algorithm;

generate a unique transaction identification for said financing in response to determining that said consumer is eligible for said financing; and

electronically provide said unique transaction identification to said consumer via said network.

9. The system according to claim 8, wherein said modular electronic signature block is non-invasive, such that said generic modular electronic signature block does not modify a content of the plurality of agreements.

10. The system according to claim 8, wherein said financing agreement includes a plurality of sub-agreements, and further including instructions that are executable by the processor to append said modular electronic signature block to each of the plurality of sub-agreements.

11. The system according to claim 8, wherein said personal identification number (PIN) is previously provided to said consumer and further including instructions that are executable by the processor to obtain said electronic signature comprises at least one subsystem configured to receive said PIN from said consumer in said modular electronic signature block.

12. The system according to claim 8, further including instructions that are executable by the processor to generate said authentication code for said consumer.

13. The system according to claim 8, further including instructions that are executable by the processor to generate the document authentication code for said financing agreement from consumer information and financing terms in the financing agreement.

14. The system according to claim 8, wherein said commercial transaction comprises an automobile purchase.

15. A non-transitory computer-readable medium comprising computer-readable instructions for facilitating a commercial transaction requiring financing by a lending institution, the computer-readable instructions comprising instructions for:

receiving financing application information via a network from a consumer involved in said commercial transaction, said financing application information including information required to determine whether said consumer is eligible for said financing;

determining whether said consumer is eligible for said financing based on said financing application information;

presenting a financing agreement to said consumer over said network, said financing agreement having a physical signature block and a modular electronic signature block appended thereto, where said modular electronic signature block is applicable to a plurality of related agreements;

at least one of a predefined set of rules or a number of entries in a lookup table;

obtaining an electronic signature from said consumer for said financing agreement via said modular electronic signature block, wherein said electronic signature is a personal identification number that locks said modular electronic signature block so that no further entries may be made to said modular electronic signature block;

providing a personal identification number authentication code that replaces said personal identification number as s authentication for said electronic signature, wherein said personal identification number authentication code is generated simultaneously with obtaining said personal identification number from said consumer;

discarding said personal identification number after generation of said personal identification number authentication code and using said personal identification number authentication code when said electronic signature authentication is needed;

maintaining one or more data files related to the financing agreement and a reference to a template used to create the financing agreement along with the personal identification number authentication code, a document authentication code for the financing agreement, and a specific encryption algorithm used;

reproducing a copy of the financial agreement from the maintained data files, template reference, personal identification number authentication code, document authentication code for the financing agreement, and specific encryption algorithm;

generating a unique transaction identification for said financing in response to determining that said consumer is eligible for said financing; and

electronically providing said unique transaction identification to said consumer via said network.

16. The computer-readable medium according to claim 15, wherein said modular electronic signature block is non-invasive, such that said generic modular electronic signature block does not modify a content of the plurality of agreements.

17. The computer-readable medium according to claim 15, wherein said financing agreement includes a plurality of sub-agreements, further comprising computer-readable instructions comprising instructions for appending said modular electronic signature block to each of the plurality of sub-agreements.

18. The computer-readable medium according to claim 15, wherein said personal identification number (PIN) is previously provided to said consumer and said computer-readable instructions for obtaining comprises instructions for receiving said PIN from said consumer in said modular electronic signature block.

19. The computer-readable medium according to claim 15, further comprising computer-readable instructions for generating said authentication code for said consumer.

20. The computer-readable medium according to claim 15, further comprising computer-readable instructions for generating the document authentication code for said financing agreement from consumer information and financing terms in the financing agreement.

21. The computer-readable medium according to claim 15, wherein said commercial transaction comprises an automobile purchase.