US Patent Application 18231654. AUTOMATED LENDING DATA COLLECTION AND VERIFICATION SYSTEM AND METHODS simplified abstract

AUTOMATED LENDING DATA COLLECTION AND VERIFICATION SYSTEM AND METHODS

Organization Name

Wells Fargo Bank, N.A.

Inventor(s)

Alan W. Hecht of Chanhassen MN (US)

Ann M. Kirk of Deerwood MN (US)

Javier S. Silva of Concord NC (US)

AUTOMATED LENDING DATA COLLECTION AND VERIFICATION SYSTEM AND METHODS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18231654 titled 'AUTOMATED LENDING DATA COLLECTION AND VERIFICATION SYSTEM AND METHODS

Simplified Explanation

The patent application describes a system that includes a processing circuit with one or more processors and memory.

• The system generates a requestor token that contains information about an applicant.
• It determines if verification information is needed to process an application associated with the applicant.
• The system retrieves the necessary verification information from previously stored data related to the applicant.
• If additional information is required, the system generates a task that specifies what needs to be fulfilled.
• The system provides a list of tasks, including the generated task, to the applicant.

Original Abstract Submitted

A system includes a processing circuit having one or more processors coupled to memory, the processing circuit configured to generate a requestor token comprising information of an applicant and determine verification information is required to process an application associated with the applicant. The processing circuit is further configured to retrieve the verification information based on previously stored information corresponding to the applicant, generate a task comprising a requirement to fulfill based on determining additional information is required, and provide a list of tasks comprising the task to the applicant.