System and method for matching vendors and clients

A financial institution system comprising:

• a communication receiver module that receives, via a network, an electronic application from a vendor management system, the electronic application including data elements;
• a processor that executes a first evaluation of the data elements against data elements associated with a credit risk and a pricing model to determine a preliminary application status;
• and
• a communication transmit module that transmits, via a network, the preliminary application status, the preliminary application status including an indicator which indicates whether the application is eligible for same-day funding.

A method for same-day funding comprising the steps of:

• submitting, via a network, from a vendor management system via a network, an application for same-day funding of a sale to a financial institution system;
• receiving, at the vendor management system via the network, a notification indicating whether the application is eligible for same-day funding;
• and
• transmitting, from the vendor management system via the network, a contract submission containing same-day funding data to an open exchange system, wherein the open exchange system performs a preliminary assessment of the application data before transmitting the application data to the financial institution system, and wherein the financial institution performs a secondary assessment of the application data;
• and
• receiving, via the network, same-day funding in an account associated with the vendor management system to fund the sale based on a determination that the application data passes the preliminary assessment at the open exchange and the secondary assessment at the financial institution.

A method for same-day funding comprising the steps of:

• receiving, at a financial institution system via a network, data associated with an application for same-day funding from a vendor management system via a network;
• executing, using a computer processor associated with the financial institution system, a first evaluation of the application against a credit risk and a pricing module to determine a preliminary application status;
• and
• transmitting the preliminary application status to the vendor management system via a network, the preliminary application status including a same-day funding indicator which indicates whether the application is eligible for same-day funding.