CONSUMER LENDING USING A MONEY TRANSFER NETWORK SYSTEMS AND METHODS

摘要

A method of lending money includes receiving a loan application from a consumer. The consumer is a prior customer of a money transfer service provider. The method includes using information indicative of the consumer's prior service usage provided by or through the money transfer service provider to approve the loan application. The method further includes using a money transfer network to provide loan proceeds to the consumer or designee of the consumer and/or transfer loan payments associated with the loan application. In some embodiments, using information indicative of the consumer's prior service usage provided by or through the money transfer service provider to approve the loan application includes approving the loan in absence of a credit report on the consumer. The method also may include using the consumer's usage history of pre-paid accounts serviced by the money transfer service provider to approve the loan application.