Customized lending product system and method

Patent metadata

Field	Value
Publication number	US-10032218-B1
Application number	US-201314055665-A
Country	US
Kind code	B1
Filing date	Oct 16, 2013
Priority date	Oct 16, 2013
Publication date	Jul 24, 2018
Grant date	Jul 24, 2018

Abstract

A computer-implemented method includes providing an application form configured for electronic display and data entry, receiving loan application data via the form, and providing selectable lending product features based on the loan application data. The selectable lending product features include an approved range of selectable credit options. Each of the selectable credit options has a different associated amount of required collateral. The method also includes receiving feature selection data. The feature selection data includes a selection of at least one of the selectable credit options. The method further includes providing a customized lending product based on the feature selection data.

First claim

What is claimed is:

1. A computer-implemented method for providing a customized lending product via a graphical user interface displayed in a client device, comprising:
providing, by processing circuitry of a financial institution computing system associated with a financial institution, a hyperlink to a lending product application, the hyperlink being accessible by a client device associated with a user;
providing, by the processing circuitry of the financial institution computing system to a graphical user interface of the client device, an electronic application form in response to a user selecting the hyperlink, the electronic application comprising a personal data input section, a financial data input section, and an asset data input section that are displayed in the graphical user interface of the client device, each of the personal data, financial data and asset data input sections instructing the user to enter data into the application form, wherein the user is applying for a loan;
receiving, by the processing circuitry of the financial institution computing system and from the client device, loan application data via the application form, the loan application data based on the information provided in the input sections of the application and including user financial data and asset data related to assets the user is willing to provide as collateral;
identifying, by the processing circuitry of the financial institution computing system, one or more lending products offered by the financial institution that the user qualifies for based on the received loan application data;
pre-approving, by the processing circuitry of the financial institution computing system, the user for each of the one or more identified lending products;
providing, by the processing circuitry of the financial institution computing system to the client device, selectable lending product features via the graphical user interface displayed in the client device, each of the selectable lending product features relating to the one or more identified, pre-approved lending products, the selectable lending product features including a range of selectable credit amounts, each of the selectable credit amounts having a different percentage of required collateral;
receiving, by the processing circuitry of the financial institution computing system from the client device, feature selection data provided by the user via the graphical user interface displayed in the client device, the feature selection data including a selection of at least one of the selectable credit amounts;
selecting, by the processing circuitry of the financial institution computing system, a pre-approved customized lending product from the one or more identified, pre-approved lending products based on the feature selection data; and
providing, by the processing circuitry of the financial institution computing system to the client device, a webpage confirming the details of the pre-approved customized lending product, the communication including an indication of the selected credit amount including any associated security and collateral requirements for the pre-approved customized lending product.

2. The method of claim 1 , further comprising evaluating, by the financial institution computing system, the loan application data against lending criteria in order to determine the selectable lending product features.

3. The method of claim 1 , wherein receiving the feature selection data includes receiving a selection of one of a loan and a line of credit.

4. The method of claim 1 , wherein providing the customized lending product includes providing at least one of an interest rate and a payment amount.

5. The method of claim 1 , wherein receiving the feature selection data includes receiving a selection requesting card access to the customized lending product.

6. The method of claim 1 , wherein the selected collateral type is at least one of real property, tangible personal property and intangible personal property.

7. The method of claim 1 , wherein providing the application form, the selectable lending product features, and the customized lending product includes providing the application form, the selectable lending product features, and the customized lending product via an online financial institution website.

8. A financial institution computer system associated with a financial institution, the financial institution computer system comprising:
processing circuitry; and
machine readable storage media having instructions stored therein that, when executed by the processing circuitry, cause the processing circuitry to:
provide a hyperlink to a lending product application, the hyperlink being accessible by a client device associated with a user;
provide, to a graphical user interface of the client device, an electronic application form in response to a user selecting the hyperlink, the electronic application comprising a personal data input section, a financial data input section, and an asset data input section that are displayed in the graphical user interface of the client device, each of the personal data, financial data and asset data input sections instructing the user to enter data into the application form, wherein the user is applying for a loan;
receive, from the client device, loan application data via the application form, the loan application data based on the information provided in the input sections of the application and including user financial data and asset data related to assets the user is willing to provide as collateral;
identify, based the loan application data, one or more lending products offered by the financial institution that the user qualifies for;
pre-approve the user for each of the one or more identified lending products;
provide, to the client device, selectable lending product features via the graphical user interface displayed in the client device, each of the selectable lending product features relating to the one or more identified, pre-approved lending products, the selectable lending product features including a range of selectable credit amounts, each of the selectable credit amounts having a different percentage of required collateral;
receive, from the client device, feature selection data including a selection of at least one of the selectable credit amounts via the graphical user interface displayed in the client device;
select, from the one or more identified, pre-approved lending products, a pre-approved customized lending product based on the feature selection data; and
provide, to the client device, a webpage confirming the details of the pre-approved customized lending product, the communication including rate and payment information for the pre-approved customized lending product.

9. The system of claim 8 , wherein the selectable lending product features include a selection of a loan and a line of credit.

10. The system of claim 8 , wherein the selectable lending product features include a selection requesting card access to the customized lending product.

11. The system of claim 8 , wherein the associated types of collateral include at least one of a savings account, a certificate of deposit, an automobile, and real estate.

12. The system of claim 8 , wherein a processor is associated with an online financial institution website.

13. A method for providing a customized lending product via a graphical user interface displayed in a client device, comprising:
providing, by processing circuitry of a financial institution computing system associated with a financial institution, a hyperlink to a lending product application, the hyperlink being accessible by a clien

Assignees

• Wells Fargo Bank Na

Inventors

• Denbo Todd Lawrence

Classifications

• G06Q40/03 Primary

  Credit; Loans; Processing thereof · CPC title

• G06Q40/025 Primary

  Physics · mapped topic

• G06Q40/02

  Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03) · CPC title