SYSTEM AND METHODS FOR PROVIDING LEAST COST DATA ACQUISITION FOR FINANCIAL DECISIONS

摘要

Systems and methods for providing credit decisions using the least cost necessary to access data sources. A lending institution can create custom credit decisioning rules which use only the data needed to grant or deny credit. Credit decision data sources are optimized for cost or likelihood of success to provide the lowest overall cost for the credit query. Embodiments allow for early identification of denial or approval of credit and also for identification of various credit products or packages.

主权项

1. A hosted computing system for credit decisioning comprising:
one or more processors configured to receive financial applications; the processors further configured to acquire data from a plurality of repositories of credit histories, said credit histories corresponding to the credit risk associated with persons making said financial applications, said repositories having a cost range in using said data from low to relatively high values; and said processors further configured to identify the financial risk to persons using said data from said repositories, the processors being further configured to select a least cost risk module and said processors being configured to enable said person to make a financial decision without having to check a relatively higher cost value module.