Automated Referral Fee Allocation System for Online Lending
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Solution Overview
Problem
Current systems lack an efficient method for distributing loan payments and allocating referral fees in online lending platforms, leading to inefficiencies in matching lenders and borrowers and rewarding referrers.
Innovation Solution
A computer system processes indications of referrals, lender information, and borrower information to facilitate loan matching and allocate a portion of the loan payment to referrers, using electronic messages to manage the referral and payment processes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual methods are used for distributing loan payments and allocating referral fees, then system simplicity is maintained, but processing efficiency and accuracy deteriorate
Solution Approach 1:
The system enables automatic self-service processing where the computer system autonomously receives referral indications, matches lenders with borrowers, calculates referral fees, and distributes payments without requiring manual intervention for each transaction. This automation resolves the contradiction by dramatically improving processing efficiency while the system handles the complexity internally.
Solution Approach 2:
The patent replaces manual mechanical processes (paper-based tracking, manual fee calculation, manual payment distribution) with an electronic computer-based system that automatically processes referrals, performs matching algorithms, calculates fees, and executes payments. This substitution resolves the contradiction by improving productivity through automation while managing complexity through software rather than manual procedures.
2Measurement precision
If automated systems are implemented for loan matching and fee allocation, then processing speed and accuracy improve, but system complexity increases
Solution Approach 1:
The system implements feedback mechanisms where the computer automatically tracks referral sources, monitors loan matching outcomes, calculates referral fees based on predefined criteria, and distributes payments. This automated feedback loop ensures accurate fee allocation by continuously monitoring transactions and applying allocation rules consistently, resolving the contradiction between precision and complexity through systematic automation.
Solution Approach 2:
The patent creates a universal computer-based platform that handles multiple functions: receiving referrals, matching lenders and borrowers, calculating various types of fees, tracking payments, and distributing funds. This multi-functional system resolves the contradiction by consolidating complexity into a single automated platform that improves accuracy across all functions simultaneously rather than through separate manual processes.
3Reliability
If comprehensive tracking of referral sources is implemented, then referrer reward accuracy improves, but data processing complexity increases
Solution Approach 1:
The system introduces a computer-based intermediary platform that automatically captures referral source data, tracks the matching process, and manages fee calculations. This intermediary resolves the contradiction by reliably tracking referral sources and ensuring accurate referrer rewards through automated data capture and processing, while the system itself manages the data processing complexity rather than requiring manual tracking procedures.
Data Source
AI summary
Various techniques of distributing revenue and/or other money, selecting/bonding delivery agents, and performing other tasks are providing herein. Methods include distributing portions of loan payments to one or more referrers associated with one or more loans, bonding of delivery agents, selecting delivery agents, allocating portions of credit card payments and/or sharing advertisement revenue. Other apparatus and methods are disclosed.