18588542. SELF-SERVICE LENDER PORTAL simplified abstract (Capital One Services, LLC)

SELF-SERVICE LENDER PORTAL

Organization Name

Capital One Services, LLC

Inventor(s)

Dinesh Sundaram of Plano TX (US)

Sanjiv Yajnik of Dallas TX (US)

Raman Bajaj of Frisco TX (US)

Jacques Morel of Colleyville TX (US)

Alex Baird of Carrollton TX (US)

Rajaboopathy Vijayaraghavan of Carrollton TX (US)

SELF-SERVICE LENDER PORTAL - A simplified explanation of the abstract

This abstract first appeared for US patent application 18588542 titled 'SELF-SERVICE LENDER PORTAL

Simplified Explanation: A self-service lender portal allows lenders to interact with a multi-lender system that automates pre-qualification and eligibility evaluation for loan applicants. Lenders can upload rule sets, download operational data, generate security keys, and manage access policies.

Key Features and Innovation:

• Automated pre-qualification and eligibility evaluation for loan applicants
• Interface for lenders to upload rule sets defining lending and eligibility criteria
• Downloading operational data generated from processing loan applicant information
• Generating and managing security keys for encryption and decryption of sensitive data
• Managing access policies for providing single sign-on by interfacing with the lender's identity management systems

Potential Applications: This technology can be used in the financial industry for streamlining the loan application process and improving efficiency in evaluating loan applicants.

Problems Solved: This technology addresses the challenges faced by lenders in manually evaluating loan applicants and streamlines the process by automating pre-qualification and eligibility evaluation.

Benefits:

• Improved efficiency in evaluating loan applicants
• Streamlined loan application process
• Enhanced security through encryption and decryption of sensitive data

Commercial Applications: The self-service lender portal can be utilized by financial institutions, credit unions, and online lending platforms to enhance their loan application processes and improve customer experience.

Prior Art: Readers can explore prior art related to self-service lender portals in the field of financial technology and loan processing systems.

Frequently Updated Research: Stay informed about the latest advancements in self-service lender portals and financial technology to optimize loan processing systems.

Questions about self-service lender portals: 1. How does the self-service lender portal improve the efficiency of loan application processes? 2. What security measures are in place to protect sensitive data in the lender portal?

Original Abstract Submitted

A self-service lender portal provides lenders with a suite of tools for interacting with a multi-lender architecture configured to provide loan applicants with automated pre-qualification and eligibility evaluation for multiple candidate lenders. The lender portal provides lenders with an interface for uploading rule sets defining lending and eligibility criteria, downloading operational data generated from processing loan applicant information, generating and managing security keys for encryption and decryption of sensitive data, and managing access policies for providing single sign-on by interfacing with the lender's own identity management systems.