US 8,543,475 B2 · System and method for obtaining automated third-party confirmations in receivables factoring

Abstract

Systems and methods are defined for facilitating the factoring process involving a business client, one or more factors, and a third-party (i.e., a debtor doing business with the business client) providing confirmations for the accounts receivables upon the client's request. The client requests confirmation of accounts receivables from a confirmation system, the confirmation system queries the debtor(s) for confirmation of their accounts payable to the client, and the confirmation system provides completed accounts receivables to one or more factors designated by the client (i.e., initially provided to the confirmation system with the accounts receivable data that initiates the confirmation process).

Claims20

Dependent claims

A method of obtaining a confirmation of client account data associated with a client from at least one responder comprising the steps of:

receiving, via a communications network, client account data from a computer associated with a requestor at a computer of the confirmation system;
storing the received client account data in a computer database of the confirmation system;
receiving authorization to request confirmation of the client account data at the confirmation system via the communications network;
receiving response data via the communications network at the confirmation system from a computer associated with at least one responder, wherein the response data approves the client account data;
generating a completed confirmation as a function of the received response data;
and
providing the completed confirmation to the computer associated with the requestor.

4 more elements

A computer readable storage media having computer executable instruction modules operable to obtain an electronic confirmation of client account data associated with a client from at least one responder by performing the steps of:

receiving, via a communications network, client account data from a computer associated with a requestor at a computer of a confirmation system;
storing the received client account data in a computer database of the confirmation system;
receiving authorization to request confirmation of the client account data at the confirmation system via the communications network;
receiving response data via the communications network at the confirmation system from a computer associated with at least one responder, wherein the response data approves the client account data;
generating a completed confirmation as a function of the received response data;
and
providing the completed confirmation to the computer associated with the requestor.

4 more elements

Dependencies are inferred from the claim text.

System and method for obtaining automated third-party confirmations in receivables factoring

Life of this patent

System and method for obtaining automated third-party confirmations in receivables factoring

Life of this patent

Abstract

Claims20