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System and methods for producing a credit feedback loop

A credit and credit technology, applied in data processing applications, finance, instruments, etc., can solve problems such as inaccuracy and unreliable credit information

Inactive Publication Date: 2014-05-07
CREDIBILITY CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

This available credit information is often unreliable and inaccurate because it is not directly derived from the credit provider's algorithm and is not based on credit that the credit provider has actually extended

Method used

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  • System and methods for producing a credit feedback loop
  • System and methods for producing a credit feedback loop
  • System and methods for producing a credit feedback loop

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Embodiment Construction

[0037] In the following detailed description, many details, examples and embodiments of the credit feedback loop system and method are explained and described. As those skilled in the art will understand from this description, the system and method are not limited to the illustrated embodiments, and the system and method may be practiced without some of the specific details and examples discussed. In addition, reference is made to the accompanying drawings that illustrate specific embodiments in which the invention may be practiced. It should be understood that other embodiments may be used, and structural changes may be made without departing from the scope of the embodiments described herein.

[0038] Define certain terms to help the discussion below. The term "credit seeker" includes any entity seeking to ascertain the credit available to it. Credit seekers can do so in order to obtain credit or to check their reputation. Credit seekers include individuals or businesses (ie...

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Abstract

Some embodiments provide a credit feedback loop system that directly identifies credit that is available to a credit seeker based on recent credit that others with similar qualifications (e.g., credit scores) as the credit seeker have obtained. The credit feedback loop system establishes a reciprocal system to benefit credit providers and credit seekers. The credit providers participate by providing information about the credit they have recently extended to credit seekers. In return, the credit feedback loop system acts as a lead generation platform for the credit providers by identifying potential new credit seekers. A credit seeker benefits by obtaining a direct and accurate measure of its available credit without having to divulge confidential information. In so doing, the credit feedback loop system allows a credit seeker to accurately identify its available credit and be quasi-preapproved for credit without having to apply for credit from any single credit provider.

Description

[0001] Claim the rights of related applications [0002] This application claims the rights of U.S. Provisional Application 61 / 487,565 filed on May 18, 2011, entitled "System and Method for Generating Credit Feedback Loops". The content of the provisional application 61 / 487,565 is incorporated herein by reference. Technical field [0003] The present invention belongs to a system, method and software product for determining credit availability and reputation. Background technique [0004] Personal credit scores and corporate credit scores are well-established measures. According to the measures, financial institutions and other trading partners measure risks and determine the likelihood that individuals or enterprises will fulfill their debt obligations. by Score to quantify an individual’s credit score or personal credit. More generally through the development of Dun & Bradstreet Score to quantify the credit score of the company. These credit scores are listed for illustrative...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q40/02
CPCG06Q40/02
Inventor A.斯蒂贝尔J.斯蒂贝尔J.洛布J.哈克特M.卡泽拉尼
Owner CREDIBILITY CORP