News Column

"On-Line Automated Loan System" in Patent Application Approval Process

August 7, 2014

By a News Reporter-Staff News Editor at Politics & Government Week -- A patent application by the inventors Sivacki, Nikola (London, GB); Hegarty, Daniel (London, GB); Griffith, Gareth (London, GB), filed on March 15, 2013, was made available online on July 24, 2014, according to news reporting originating from Washington, D.C., by VerticalNews correspondents.

This patent application has not been assigned to a company or institution.

The following quote was obtained by the news editors from the background information supplied by the inventors: "This invention relates to methods and systems for verification of websites and other sources of data relating to an entity to improve lending decisions.

"Online systems are increasingly being used in which a client device connects with a website system over a communication path, such as the Internet, and in which a third party software module forms part of the communication chain. An example of such an approach is a so called popup or plugin used in a Web browser to request data from a user and provide data to a remote system while the user interacts with a website server."

In addition to the background information obtained for this patent application, VerticalNews journalists also obtained the inventors' summary information for this patent application: "An arrangement of this disclosure provides a lending system in which a browser may be redirected to a remote third party site of an online lender to exchange information and to request an online loan.

"A computer implemented system for electronically processing a loan decision in which funds are to be provided to a merchant from a lending institution on behalf of a customer browsing a website is provided.

"In one embodiment of the invention, the system comprises an input, connected to a communications network, for receiving a notification from a client device operated by the customer of the possibility of a transaction for the supply of goods from the merchant to the customer as a result of the client device browsing the merchant website, the notification being by the communications network. Such a notification may be by intercepting at the point of display of a price, a shopping basket or other indication of a possible purchase.

"An output is connected to the communications network, for sending a request to the website of the merchant for one or more responses. The request may be for specific data, keywords or generally to aggregate data from the website of the merchant.

"A loan module is coupled to the input and the output, and operable to process the notification, to generate the request to the website for one or more responses from pages within the website, to receive the responses, to process the responses to determine the presence or absence of specified content, and to provide a loan decision based at least in part on the presence or absence of the specified content. The loan decision may thereby take into account factors related to the identity of the user, but also factors related to a merchant website.


"The invention will now be described in more detail by way of example with reference to the drawings, in which:

"FIG. 1: is a functional diagram of the key components of a system embodying the invention;

"FIG. 2: is an overview of the key functional components of the remote system component embodying the invention;

"FIG. 3: is a flow diagram showing data collection using a crawling process;

"FIG. 4: shows the process of accessing and parsing multiple external data sources concurrently;

"FIG. 5: shows the aggregation of data from various sources; and

"FIG. 6: shows the output module of FIG. 1."

URL and more information on this patent application, see: Sivacki, Nikola; Hegarty, Daniel; Griffith, Gareth. On-Line Automated Loan System. Filed March 15, 2013 and posted July 24, 2014. Patent URL:

Keywords for this news article include: Patents.

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Source: Politics & Government Week

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