Abstract: A browser based automated loan system includes a loan engine offered individually to financial institutions to set up, operate and manage loan product offerings, a consumer website interface having a loan application form with data fields relevant to the loan product offerings, a designer component that establishes tasks in the form of a loan process checklist associated with each loan product offering, and a workflow engine for automatically evaluating the loan application form using the applicable loan process checklist in conjunction with rules, logical mathematical computational components, and risk based offer configurations for generating an instant loan offer when a borrower qualifies. Each task has attributes available for establishing entry conditions to provide workflow automation, and each task is performed when the entry conditions associated therewith are satisfied.
Type:
Grant
Filed:
May 26, 2009
Date of Patent:
November 15, 2011
Assignee:
International Projects Consultancy Services, Inc.
Inventors:
Kuldeep K. Dhar, James Ahles, Anupa Dhar
Abstract: A browser based automated loan system includes a loan engine offered individually to financial institutions to set up, operate and manage loan product offerings, a consumer website interface having a loan application form with data fields relevant to the loan product offerings, a designer component that establishes tasks in the form of a loan process checklist associated with each loan product offering, and a workflow engine for automatically evaluating the loan application form using the applicable loan process checklist in conjunction with rules, logical mathematical computational components, and risk based offer configurations for generating an instant loan offer when a borrower qualifies. Each task has attributes available for establishing entry conditions to provide workflow automation, and each task is performed when the entry conditions associated therewith are satisfied.
Type:
Application
Filed:
May 26, 2009
Publication date:
October 8, 2009
Applicant:
INTERNATIONAL PROJECTS CONSULTANCY SERVICES, INC.
Inventors:
Kuldeep K. Dhar, James Ahles, Anupa Dhar
Abstract: A workflow engine for rendering instant credit decisions includes a workflow designer, a web site interface, a database, checklists created by the workflow designer and associated with at least one loan offering, and a messaging system for brokering messages between a consumer and a lender. The workflow engine accepts web-based loan applications, processes the loan applications programmatically, and renders a loan decision within seconds. The workflow engine uses checklists to evaluate loan applications. Each checklist is associated with one loan offering and one lender. Multiple lenders offer multiple loan offerings through the system to compete for consumer/borrowers. The system evaluates loan applications and renders a programmatic loan decision without human intervention, subject to verification of the application data.
Type:
Grant
Filed:
October 2, 2001
Date of Patent:
June 30, 2009
Assignee:
International Projects Consultancy Services, Inc.
Inventors:
Kuldeep K. Dhar, James Ahles, Anupa Dhar
Abstract: A workflow engine for rendering instant workflow decisions includes a workflow designer, a web site interface, a database, checklists created by the workflow designer and associated with at least one workflow process, and a messaging system for brokering messages. The workflow engine uses checklists to evaluate workflow processes. Each checklist is associated with one workflow decision. The workflow checklist is an object-based representation of the sequential ordering of functions within the workflow engine. Administrative tools allow an end-user to modify workflow checklists and their associated parameters without recompiling or rebooting the system.
Type:
Grant
Filed:
October 2, 2001
Date of Patent:
September 23, 2008
Assignee:
International Projects Consultancy Services, Inc.
Inventors:
Kuldeep K. Dhar, James Ahles, Anupa Dhar