System and method for providing an incentive program
OwnerBarry Goulding, Katherine Morrison +2inventors
InventorsBarry Goulding, Katherine Morrison, Esther Wisdom, Mark Merithew
Life of this patent
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Abstract
The present invention provides a computer-based system and method for providing a management tool and incentive program that gives an incentive to borrowers to meet specified requirements. The program rewards the borrower with a benefit when the borrower satisfies the necessary requirements.
Claims25
A financial computer system comprising:
- a computer network;
- at least one server in communication with the computer network;
- a storage device for storing information;
- at least one website linked to the at least one server through the computer network, wherein the website provides a user interface through which users can access an online loan application;
- complete the loan application and receive information regarding an incentive benefit;
- and
- an incentive module for determining user eligibility for the incentive benefit based on terms and conditions stored in said storage device.
A method of providing an incentive for borrowers during an online loan process, the method comprising the steps of:
- storing on a storage device information about the terms and conditions a borrower must meet to receive a benefit;
- accepting an electronic loan application from the borrower;
- notifying the borrower of eligibility;
- electronically providing the borrower with a set of terms and conditions to which the borrower can agree;
- storing the status of the borrower's acceptance of the set of terms and conditions on the storage device;
- if the borrower meets at least a portion of the set of terms and conditions, awarding the benefit to the borrower.
A computer program transmitted over a communication medium to a computer system, the computer system comprising memory, a storage device and a processor in communication with the memory and the storage device, the computer program causing the processor to perform the acts of:
- giving a borrower access to a loan application on a lender's website;
- allowing the borrower to electronically sign the loan application;
- determining whether the borrower is eligible for a benefit;
- if the borrower is determined to be eligible for the benefit, electronically providing the borrower with a set of terms and conditions for receiving the benefit;
- allowing the borrower to electronically accept the set of terms and conditions;
- storing the borrower's acceptance of the set of terms and conditions on the server;
- awarding the benefit to the borrower if the borrower agrees to the set of terms and conditions.
A method of providing an incentive program for borrowers, the method comprising the steps of:
- providing a borrower an online loan application;
- storing on a storage device the requirements for receiving a benefit;
- determining whether a borrower is eligible for the benefit;
- electronically providing the borrower with a set of terms and conditions if the borrower is determined to be eligible;
- allowing the borrower to electronically agree or disagree with the set of terms and conditions;
- storing the borrower's acceptance of the set of terms and conditions on the server;
- and
- awarding the benefit to the borrower if the borrower agrees to the set of terms and conditions.
Dependencies are inferred from the claim text.