Multi-lender platform that securely stores proprietary information for pre-qualifying an applicant

US11430059B2 · kind B2 · utility

Assignee

• CAPITAL ONE SERVICES, LLC · US

Inventors

• Dinesh Sundaram · Plano, US
• Rajaboopathy Vijayaraghavan · Carrollton, US
• Sanjiv Yajnik · Dallas, US
• Raman Bajaj · Frisco, US
• Jacques Morel · Colleyville, US
• Trent Jones · Toledo, US
• Thomas Sickert · Plano, US
• Jacob Creech · McKinney, US
• Alan Ilango · McKinney, US
• Alex Baird · Carrollton, US

Key dates

• Filing date: May 22, 2020
• Grant date: Aug 30, 2022
• Expiry date: May 22, 2040

Classification

• Technology area (CPC —): General

Abstract

The system and methods described herein allow users to apply for a purchase of a good from multiple providers using provider specific methodologies for generating offers for the product. For example, the system described herein may include a multi-layer architecture that includes interactive micro-services that communicate together in a bi-directional manner to create a normalized process for the purchase of a good, such as commercial goods/products (e.g. a vehicle) or real property. The micro-services may assess prequalification for a loan or financing for a good, followed by determining eligibility of the good for financing, and further followed by calculating pricing details for loans (e.g. for financing purchase of the good) that would be offered for a consumer's particular financial credentials, for each of a plurality of lenders. Prequalification and pricing may be performed on a good by good basis, or for a plurality of goods near or substantially simultaneously.