US 2015/0310545 A1 · SYSTEM AND METHOD FOR PROGRESS ACCOUNT OPENING BY MEANS OF RISK-BASED CONTEXT ANALYSIS

Abstract

Systems and methods permit flexible and convenient customer account opening to minimize both customer friction and the risk to financial service providers. In one embodiment, a computing device associated with a financial service provider receives an account application containing customer information and a request to open a new account or a request to upgrade an existing account. The computing device performs a verification analysis to validate inputs, authenticate customer identity, ensure compliance with regulatory requirements, or evaluate the risk posed by a customer. The computing device performs a recommendation analysis to determine the appropriate product types and account restrictions that should be offered to a customer, if any. The computing device creates an account application status message indicating approval or denial of the account application.

Claims18

Dependent claims

A computer-implemented method of processing an account application comprising:

(a) providing a computing device associated with a provider;
(b) receiving by the provider computing device, an account application containing customer information and a request selected from the group consisting of a request to open a new account, a request to upgrade an existing account, and a request to downgrade an existing account;
(b) performing a verification analysis;
(c) performing a recommendation analysis;
and
(d) generating an application status message indicating an approval or disapproval of the account application.

3 more elements

A system for processing an account application comprising:

a first processor associated with a provider;
a data storage device including a computer-readable medium having computer readable code for instructing the first processor, and when executed by the first processor, the first processor performs operations comprising:
(a) receiving an account application containing customer information and a request selected from the group consisting of a request to open a new account, a request to upgrade an existing account, or a request to downgrade an existing account;
(b) performing a verification analysis;
(c) performing a recommendation analysis;
and
(d) generating an application status message indicating an approval or disapproval of the account application.

4 more elements

Dependencies are inferred from the claim text.

System and method for progress account opening by means of risk-based context analysis

Life of this patent

System and method for progress account opening by means of risk-based context analysis

Life of this patent

Abstract

Claims18