Application processing and decision systems and processes

Abstract

The present invention relates to application processing and decisioning systems and processes. One embodiment of the invention includes a method for automating decisioning for a credit request associated with an applicant. The method includes providing a user computer interface adapted to receive information associated with an applicant, and further adapted to display and receive information associated with at least one decision rule. The method also includes receiving information associated with an applicant through the user computer interface; receiving information associated with the applicant from at least one data source; and receiving a selection of information associated with a plurality of decision rules through the user computer interface. Furthermore, the method includes receiving a selection of rule flow information associated with the plurality of decision rules through the user computer interface; generating a plurality of decision rules based at least in part on the information associated with the applicant, based at least in part on the information associated with the applicant from at least one data source, and based at least in part on the selection of information associated with a plurality of decision rules, wherein an outcome associated with the at least one decision rule can be obtained; and based in part on at least the rule flow information, displaying at least a portion of the plurality of decision rules through the user computer interface.

Description

RELATED APPLICATIONS[0001]This application is a divisional application of U.S. patent application Ser. No. 10 / 546,931, entitled “Application Processing and Decision Systems and Processes,” filed Aug. 10, 2006, which is the United States national phase of International Application No. PCT / US2004 / 028020 filed on Aug. 27, 2004, which claims the benefit to U.S. Provisional Application No. 60 / 498,395 entitled “Application Processing and Decision Systems and Processes,” filed on Aug. 27, 2003, each of which is hereby incorporated by reference.FIELD OF THE INVENTION[0002]The invention is generally directed to systems and methods for processing information. More particularly, the invention relates to systems and processes for automating tasks related to processing applications such as credit related applications and related decision making.BACKGROUND[0003]Commercial entities such as financial institutions, commercial entities, retail businesses, health care entities, utilities, and telecoms...

AI Technical Summary

Benefits of technology

This solution enables financial institutions to efficiently process credit applications and manage portfolios by automating tasks, reducing costs and increasing efficiency through real-time decision-making and improved risk assessment, while minimizing human intervention and errors.

Problems solved by technology

The need for human intervention to conduct the data searches, to draw appropriate inferences based on operative criteria and to report the decision and basis therefore is accordingly time consuming and expensive.

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