US 8,694,401 B2 · Systems and methods for using online social footprint for affecting lending performance and credit scoring

Abstract

Provided are apparatuses, computer media, and methods for analyzing data gathered from the online social footprint and determining a credit score to facilitate access to financial services. A credit score is determined based on available personal data and data gathered from the online social footprint and is indicative of a borrower's propensity to pay an owed amount. A credit score is determined from a scoring expression that is associated with a score cluster, typically including a subset of available data gathered from the online social footprint. The credit score can also be affected by means such as endorsements or negative behavior of individuals in a borrower's social network. Corresponding apparatus, systems, programs for computers, and communications mechanisms are also provided to gain access to financial services based upon at least one borrower's request criterion, optimization of reputation in the borrower's online social footprint and performing a lending transaction.

Claims20

Dependent claims

A method implemented in a computer processing system, the method comprising:

for each user in a set of users including at least one user;
analyzing, by a computer, data corresponding to an online social footprint of the user, wherein the online social footprint includes data corresponding to interactions of the user with a social networking service;
and
applying, by a computer, at least one scoring expression to the data to generate a credit score of the user;
facilitating, by a computer, a loan between at least two parties which comprise a borrower and a lender based on the analyzing and applying, wherein the borrower corresponds to a user in the set of users;
and
performing, by a computer, a collections treatment for the loan, wherein the collections treatment includes affecting an online social footprint of at least one user in the set of users by providing data corresponding to the loan for publication on the social networking service.

4 more elements

A method implemented in a computer processing system, the method comprising:

evaluating, by a computer, data obtained about a user from at least one social networking service along with information of a user profile for the user to determine a credit score for the user by applying at least one scoring expression;
transmitting, by a computer, a request for more information in response to the credit score not qualifying the user for any loan, wherein the transmitting includes requesting more information, and wherein the requested information includes at least one of:
requiring the user to provide, by a computer, at least one more social networking service and log in credentials in which the user participates;
requiring the user to include more people in the user's social network;
requiring the user to get endorsements, by a computer, from people in the user's social network;
requiring the user to build, by a computer, a trusted network within the user's social network;
or requiring the user to complete education relevant to lending;
updating, by a computer, the evaluating in response to receiving more information for the user;
receiving, by a computer, a loan application for a loan from the user;
making a determination regarding the loan qualification of the user based on the evaluation of the user information and loan requirements for the loan;
and
transmitting, by a computer, the determination of the loan qualification for presentation to the user.

9 more elements

A method implemented in a computer processing system, the method comprising:

evaluating, by a computer, data obtained about a user from at least one social networking service to which the user belongs and information provided by the user in conjunction with a loan request to determine a loan score for the loan request by applying at least one loan scoring expression, wherein the at least one loan scoring expression determines the loan score using:
an evaluation of an accuracy of the information provided by the user in conjunction with the loan request using data corresponding to interactions with the at least one social networking service relating to the user and data corresponding to a payment history of at least one of:
the user or at least one user associated with the user in the at least one social networking service;
making, by a computer, a determination regarding a loan qualification of the user based on the loan score and loan requirements for the loan;
and
transmitting, by a computer, the determination of the loan qualification for presentation to the user.

3 more elements

Dependencies are inferred from the claim text.

Systems and methods for using online social footprint for affecting lending performance and credit scoring

Life of this patent

Systems and methods for using online social footprint for affecting lending performance and credit scoring

Life of this patent

Abstract

Claims20