System and method for generating dynamic repayment terms
US11348190B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 16, 2020 |
| Grant date | May 31, 2022 |
| Priority date | — |
| Expiry date | Jan 16, 2040 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/03
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In one embodiment, a method includes receiving, by a payment service system (PSS), a request for a cash advance drawn from a line of credit approved for a user. The line of credit is associated with an account maintained by the PSS and includes default repayment terms. The method includes in response to receiving the request, identifying, by the PSS, context characteristics of the request. The method includes determining, by the PSS using a machine learning model applied to the identified characteristics and historical context information stored at the payment service system, that the requested cash advance qualifies for repayment terms that are different form the default repayment terms. The method includes based on the determination, generating a set of modified repayment terms to be associated with the cash advance. The method includes transmitting, by the PSS, an indication of the modified repayment terms to a user device for authorization.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.