Systems and methods for collateral deposit identification

Patent metadata

Field	Value
Publication number	US-12373887-B2
Application number	US-202418438847-A
Country	US
Kind code	B2
Filing date	Feb 12, 2024
Priority date	Oct 27, 2017
Publication date	Jul 29, 2025
Grant date	Jul 29, 2025

Abstract

A secured credit provider computing system is provided. The system includes a network interface configured to communicate data over a network and a processing circuit including one or more processors coupled to non-transitory memory. The processing circuit is configured to receive, from a user computing device, an application for secured credit; generate a passcode corresponding to the application and transmit the passcode to the user computing device; receive the passcode from an automated teller machine (ATM) of a second provider; responsive to identifying the application based on the passcode, transmit, to the ATM for display, a collateral request for the application; receive, from the ATM, a message acknowledging a collateral deposit; determine that the collateral deposit satisfies the collateral request for the identified application; and transmit, to the user computing device or to the ATM, a notification indicating that the application has been approved.

First claim

What is claimed is:

1. A computing system, comprising:
a network interface configured to communicate data over a network; and
a processing circuit comprising one or more processors coupled to a non-transitory memory, wherein the processing circuit is configured to:
receive, from a user computing device, via a website or software application running on the user computing device, a first request for a secured credit product;
generate a passcode corresponding to the first request, the passcode having an expiration determined based on the first request;
transmit the passcode to the user computing device;
receive a second request corresponding to the secured credit product from an automated teller machine (ATM), the second request comprising the passcode;
responsive to identifying the first request for the secured credit product based on the passcode and determining that the passcode is active based on the expiration, cause the ATM to display a graphical user interface including an element that, when interacted with, causes the ATM to accept a check or paper currency corresponding to a collateral deposit;
receive, from the ATM, a message acknowledging the collateral deposit, the message generated by the ATM responsive to the ATM accepting the check or paper currency corresponding to the collateral deposit;
determine that the collateral deposit satisfies a collateral request for the secured credit product; and
transmit, to the user computing device or to the ATM, a notification indicating that the first request has been approved.

2. The computing system of claim 1 , wherein the message acknowledging the collateral deposit indicates that the check or paper currency was deposited at the ATM.

3. The computing system of claim 1 , wherein the passcode is received by the ATM from the user computing device via near-field communication or RFID.

4. The computing system of claim 1 , wherein transmitting the passcode comprises transmitting an email to an email address associated with the first request.

5. The computing system of claim 1 , wherein transmitting the passcode comprises transmitting a text message to a mobile phone associated with the first request.

6. The computing system of claim 1 , wherein the passcode is provided as an in-application message by the software application installed on a smartphone associated with the first request.

7. The computing system of claim 1 , wherein the passcode comprises an alphanumeric string.

8. The computing system of claim 1 , wherein the secured credit product is at least one of a secured credit card, a secured line of credit, or a secured loan.

9. The computing system of claim 1 , wherein the first request is for secured credit for a requested amount, and wherein the processing circuit is further configured to determine a security amount satisfying a predetermined ratio with the requested amount.

10. The computing system of claim 9 , wherein determining that the collateral deposit satisfies the collateral request for the secured credit product comprises determining that the collateral deposit corresponds to the security amount.

11. The computing system of claim 1 , wherein the processing circuit is further configured to issue the secured credit product responsive to determining that the collateral deposit satisfies the collateral request.

12. The computing system of claim 11 , wherein issuing the secured credit product comprises provisioning a secured credit card to a mobile wallet account.

13. The computing system of claim 11 , wherein issuing the secured credit comprises generating an account number associated with the secured credit.

14. A computer-implemented method comprising:
receiving, by a computing system, from a user computing device, via a website or software application running on the user computing device, a first request to apply for a secured credit product;
generating, by the computing system, a passcode corresponding to the first request, the passcode having an expiration determined based on the first request;
transmitting, by the computing system, the passcode to the user computing device;
receiving, by the computing system, a second request to complete the first request to apply for the secured credit from an automated teller machine (ATM), the second request comprising the passcode;
responsive to identifying the first request based on the passcode and determining that the passcode is active based on the expiration, cause the ATM to display a graphical user interface including an element that, when interacted with, causes the ATM to accept a check or paper currency corresponding to a collateral deposit;
receiving from the ATM, by the computing system, a message acknowledging the collateral deposit, the message generated by the ATM responsive to the ATM-accepting the check or paper currency corresponding to the collateral deposit;
determining, by the computing system, that the collateral deposit satisfies a collateral request for the secured credit product; and
transmitting, by the computing system, to the user computing device or to the ATM, a notification indicating that the first request has been approved.

15. The computer-implemented method of claim 14 , wherein the message acknowledging the collateral deposit indicates that the check or paper currency was deposited at the ATM.

16. The computer-implemented method of claim 14 , wherein the passcode is received by the ATM from the user computing device via near-field communication or RFID.

17. The computer-implemented method of claim 14 , wherein transmitting the passcode comprises at least one of transmitting an email to an email address associated with the first request or transmitting a text message to a mobile phone associated with the first request.

18. The computer-implemented method of claim 14 , wherein the passcode is presented as an in-application message via an application installed on a smartphone associated with the first request.

19. The computer-implemented method of claim 14 , wherein the first request is for secured credit for a requested amount, and wherein the method further comprises determining a security amount satisfying a predetermined ratio with the requested amount.

20. The computer-implemented method of claim 19 , wherein determining that the collateral deposit satisfies the collateral request for the secured credit product comprises determining that the collateral deposit corresponds to the security amount.

Assignees

• Wells Fargo Bank Na

Inventors

• Ho Peter
• Lo Robin
• Schur Lisa M

Classifications

• G06Q20/3226

  Use of secure elements separate from M-devices · CPC title

• G06Q20/24 Primary

  Credit schemes, i.e. "pay after" · CPC title

• G06Q20/4014

  Identity check for transactions · CPC title

• G06Q40/03 Primary

  Credit; Loans; Processing thereof · CPC title