Methods and apparatus for evaluating a credit application
In a method and apparatus for facilitating review of a credit application for true name fraud, an applicant might provide or submit an application for credit. One or more rules may govern when information regarding an application or its associated applicant is obtained, used, displayed as part of the application evaluation process and whether or not the application should be approved or denied.
1. A computer implemented method for facilitating evaluation of a credit application for fraud, comprising:
storing, in a computer, a first plurality of rules governing when different portions of information are to be obtained for use in true name fraud evaluation;
storing, in said computer, a second plurality of rules governing how an application is to be evaluated in view of information obtained in accordance with said first plurality of rules;
receiving data indicative of a first application requiring true name fraud evaluation;
obtaining information associated with said first application in accordance with said first plurality of rules from a first source;
obtaining, from at least one second source different than said first source, additional information associated with said first application in accordance with said first plurality of rules and in response to said received data; and
evaluating, for true name fraud, said first application in accordance with said second plurality of rules; and
displaying at least a portion of said information from each of said first source and said at least one second source, each in a distinct window of an interface screen.
2. The method of claim 1 , wherein each of said different portions of information has an associated cost.
3. The method of claim 2 , wherein storing said first plurality of rules includes establishing rules that minimize a cost associated with evaluating said application in accordance with said second plurality of rules.
4. The method of claim 2 , wherein said first plurality of rules includes rules that reduce a chance of information being obtained unnecessarily for an application being reviewed.
5. The method of claim 2 , wherein a cost of a portion of information is incurred when said portion of information is obtained.
6. The method of claim 1 , wherein said first plurality of rules includes at least one rule regarding when information regarding an application can be obtained from a designated information source.
7. The method of claim 1 , wherein said first plurality of rules includes at least one rule regarding when information regarding an application can be obtained by a designated user.
8. The method of claim 1 , wherein said second plurality of rules includes at least one rule regarding when an application can be approved by a designated user.
9. The method of claim 1 , wherein said second plurality of rules includes at least one rule regarding when an application must be declined.
10. The method of claim 1 , wherein said second plurality of rules includes at least one rule regarding when an application may be approved without further retrieval of information.
11. The method of claim 1 , further comprising storing data indicative of said first plurality of rules in a database.
12. The method of claim 1 , further comprising storing data indicative of said second plurality of rules in a database.
13. The method of claim 1 , wherein said first application is for a credit card.
14. A computer program in a computer readable medium for facilitating evaluation of an application for credit, said computer readable medium executed on a computer, said computer program comprising:
instructions for obtaining data indicative of an application requiring true name fraud evaluation;
instructions for identifying at least one first rule regarding obtaining of information associated with said application;
instructions for identifying at least one second rule regarding evaluation of said application using said information;
instructions for obtaining information regarding said application in accordance with said at least one first rule from a first source;
instructions for obtaining, from at least a second source different than said first source, additional information associated with said first application in accordance with said first plurality of rules and in response to said received data;
instructions for evaluating, for true name fraud, said application in accordance with said at least one second rule; and
instructions for displaying at least a portion of said information from each of said first source and said at lest one second source, each in a distinct window of an interface screen.
15. A system for facilitating evaluation of an application for credit, comprising:
a memory;
a communication port; and
a processor connected to said memory and said communication port, said processor being operative to:
receive data indicative of an application requiring a true name fraud evaluation;
determine at least one first rule regarding obtaining of information associated with said application;
determine at least one second rule regarding evaluation of said application using said information;
obtain information regarding said application in accordance with said at least one first rule from a first source;
obtain, from at least a second source different than said first source, additional information associated with said first application in accordance with said first plurality of rules and in response to said received data;
make a determination regarding approval of said application in accordance with said at least one second rule; and
display at least a portion of said information from each of said first source and said at lest one second source, each in a distinct window of an interface screen.
16. The system of claim 15 , wherein said processor is operative to display at least a portion of said information via an interface.