US 8,571,971 B1Granted

Credit application status monitor

AssigneeWells Fargo Bank, N.A.

InventorsDavid H. Brown, Shelley I. Stadler, Donald E. Wratislaw, Joy M. Wyche

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Abstract

A management system and method for a credit decision-making process. The system and method provide access to an automatically generated and updated status report providing information about conditions required for final credit approval. The status report is available via computer systems used by parties to the credit decision-making process, such as the potential borrower, the creditor, and a business partner working with the potential borrower and creditor. Notifications of changes to the status report and/or updated status reports are automatically provided to the parties via the computer systems. In some embodiments, a request for the current status report can be requested in response to the notification. The system and method also include the capability to access dates scheduled for fulfilling the conditions for final credit approval and to allow requests for changes to the scheduled dates. Notifications of requests for date changes can be automatically provided to all parties needing the information.

Claims12

Dependent claims

A computer system comprising:

a processor,
a computer readable medium for storing software modules executable by the processor, the software modules comprising:
a first module for generating a first status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;
an obtaining module for obtaining information indicating that a status of the first condition has changed;
a second generating module for automatically generating a second status report from contents of the first status report, wherein the second status report indicates that the status of the first condition has changed;
a sending module for automatically sending a first message to a first computer system in response to the generation of the second status report;
a receiving module for receiving a reply message from the first computer system;
a providing module for automatically providing the second status report to the first computer system in response to the receiving module receiving the reply message from the first computer system;
a third generating module for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;
a second providing module for automatically providing the third status report to a plurality of computer systems, including the first computer system and a second computer system;
a second receiving module for receiving a request to change the date from the first computer system;
and
a third providing module for automatically providing the request to the plurality of computer systems other than the first computer system.

10 more elements

A computer system comprising:

a processor;
and
a computer readable memory, the computer readable memory comprising instructions executable by the processor, the instructions comprising:
instructions for generating a first, status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;
instructions for obtaining information indicating that a status of the first condition has changed;
instructions for automatically generating a second status report based on contents from the first status report, wherein the second status report indicates that the status of the first condition has changed;
instructions for automatically sending a first message to a first computer system in response to generating the second status report;
and
instructions for receiving a reply message from the first computer system in response to sending the first message;
instructions for automatically providing the second status report to the first computer systems in response to the receiving the reply message;
instructions for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;
instructions for automatically providing the third status report to the plurality computer systems, including the first computer system and a second computer system;
instructions for receiving a request to change the date from the first computer system;
instructions for automatically providing the request to the plurality of computer systems other than the first computer system.

11 more elements

An apparatus comprising:

a first generating circuit for generating a first status report comprising status information for a first condition that is necessary to be met before an application for financial credit can be approved;
an obtaining circuit for obtaining information indicating that a status of the first condition has changed;
a second generating circuit for automatically generating a second status report from the first status report, wherein the second status report indicates that the status of the first condition has changed;
a sending circuit for automatically sending a first message to a first computer system in response to the generating the second status report;
a receiving circuit for receiving a reply message from the first computer system in response to sending the first message;
a providing circuit for automatically providing the second status report to the first computer system in response to the receiving the reply message;
a third generating circuit for automatically generating a third status report using contents of the second status report, wherein the third status report comprises a scheduled date;
a second providing circuit for automatically providing the third status report to a plurality of computer systems, including the first computer system and a second computer system;
a second receiving circuit for receiving a request to change the date from the first computer system;
and
a third providing circuit for automatically providing the request to the plurality of computer systems other than the first computer system.

8 more elements

Dependencies are inferred from the claim text.