Algorithm and models for creditworthiness based on user entered data within financial management application

US11037236B1 · kind B1 · utility

Assignee

• Intuit Inc. · US

Inventors

• Siddharth Ram · Menlo Park, US
• Richard N. Preece · San Diego, US
• Joseph Timothy Callinan, Jr. · Campbell, US
• Kathy Tsitovich · Mountain View, US
• Eva Diane Chang · Mountain View, US
• Madhu Shalini Iyer · Fremont, US

Key dates

• Filing date: Jan 31, 2014
• Grant date: Jun 15, 2021
• Expiry date: Aug 29, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06N20/20
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for modeling risk of a derogatory financial event. The method includes generating a risk profile of a small business (SMB) using a risk model based on accounting data and other third party business management application (BMA) data of the SMB. In particular, the risk model is generated using a training data set that includes accounting data and other third party BMA data of multiple SMBs over particular time periods related to historic derogatory events (e.g., to be delinquent and/or to default on a loan) of these SMBs. Generated using the risk model, the risk profile of the SMB represents the likelihood of a derogatory financial event occurring to the SMB.