Method for Retail On-Line Account Opening

Abstract

A system and method for a retail customer interfacing with a financial institution through a computer network is presented. The method includes a verification of customer-provided information with a pre-existing client identification profile for the customer, a determination of the customer's credit score using a set of predetermined criteria, and presenting a set of account options based at least in part on the verification of the customer-provided information and the customer's credit score. Additional customer-provided information may be received and verified and used to enroll the customer in one or more programs offered by the financial institution at a predefined level based at least on one or more predetermined factors.

What we claim is: 
     
         1 . A method of interfacing with a financial institution using a computer interface, the method comprising the steps of:
 (a) receiving an interface request from a customer after the customer has reached, via a path through a computer network, a predetermined webpage on a computer system for the financial institution;   (b) presenting a first content to the customer;   (c) receiving a first input from the customer;   (d) receiving from the customer a first set of information;   (e) presenting the first set of information to the customer for review by the customer and receiving a second set of information from the customer wherein the second set of information comprises the first set of information and any modifications to the first set of information made by the customer;   (f) presenting to the customer a set of terms and conditions;   (g) receiving an application from the customer;   (h) verifying at least a part of the second set of information;   (i) factoring whether the customer is a new or existing client of the financial institution in determining a credit score of the customer;   (j) presenting to the customer a set of account options and associated terms and conditions wherein the account options presented are based at least in part on the verification of the second set of information and the customer's credit score;   (k) receiving a funding option from the customer;   (l) verifying the funding option;   (m) determining that the customer is to be enrolled for a debit card or an automated teller machine (“ATM”) card;   (n) processing the customer for the debit card or ATM card enrollment;   (o) determining that the customer is to be enrolled in an online banking program;   (p) reserving account numbers at the financial institution for the customer;   (q) presenting to the customer information related to the customer's approved products, accounts, or enrollments; and   (r) sending a communication to the customer indicating approval of the customer's approved products, accounts, or enrollments.   
     
     
         2 . The method of  claim 1  further comprising the steps of:
 (s) adding or updating the customer's identification information at the financial institution; 
 (t) performing a risk analysis on the customer; 
 (u) performing a fraud analysis on the customer; 
 (v) opening a new account for the customer at the financial institution based on the customer's approved products, accounts, or enrollments; 
 (w) processing the customer's approved online banking enrollment; 
 (x) initiating a fund transfer to the new customer account; 
 (y) adding an overdraft protection account at the financial institution for the customer; 
 (z) linking the debit card or ATM card to the new customer account; 
 (aa) ordering a credit card for the customer; 
 (ab) processing fulfillment information; and 
 (ac) sending a communication to the customer indicating funding of the new customer account. 
 
     
     
         3 . The method of  claim 1  wherein the first content includes at least one of a checking account, a savings account, and an online only savings account. 
     
     
         4 . The method of  claim 1  wherein the first content is selected from the group consisting of: certificate of deposit, individual retirement account, retirement account, a 401(k) account, tax-deferred college savings account, and combinations thereof. 
     
     
         5 . The method of  claim 1  wherein the first content is determined by the path through the computer network. 
     
     
         6 . The method of  claim 1  wherein the first content includes a list of products, and wherein one of the products is automatically highlighted on a display device being viewed by the customer wherein the product highlighted is based on the path through the computer network. 
     
     
         7 . The method of  claim 1  wherein the first set of information includes at least one of: an online client user identification and password for the customer; the customer's last name; and the last four digits of the customer's social security number. 
     
     
         8 . The method of  claim 1  wherein the second set of information includes at least one of the customer's personal information and a co-applicant associated with the customer. 
     
     
         9 . The method of  claim 1  wherein the verifying at least a part of the second set of information includes determining a first verification information, evaluating the first verification information, querying the customer, verifying the customer's answers to the queries, and authenticating the customer based on the first verification information and the customer's answers. 
     
     
         10 . The method of  claim 1  wherein the first set of predetermined criteria further includes at least one of a determination of whether the customer has been identified as a fraudster or abuser by the financial institution, a determination of whether the customer has been identified as a fraudster by a second financial institution, and a determination of whether a customer identity verification score for the customer exceeds a predetermined threshold. 
     
     
         11 . The method of  claim 1  wherein the funding option includes at least one of sending a check by mail to the financial institution, making a deposit at a branch of the financial institution, electronically transferring funds to the financial institution from a source outside of the financial institution, and providing funding from a preexisting account at the financial institution. 
     
     
         12 . The method of  claim 1  wherein the customer can choose a personal identification number for the debit card or the ATM card. 
     
     
         13 . A method of interfacing with a financial institution using a computer interface, the method comprising the steps of:
 (a) receiving an interface request from a customer after the customer has reached, via a path through a computer network, a predetermined webpage on a computer system for the financial institution;   (b) presenting a list of products to the customer wherein the list of products presented is determined at least in part by the path through the computer network;   (c) receiving a choice of one or more products from the customer;   (d) authenticating the customer using a first set of identification information;   (e) reviewing the first set of customer identification information:
 (i) if the first set of customer identification information is not verified, requesting a second set of customer identification information that includes personal data of the customer; 
 (ii) if the first set of customer identification information is verified, evaluating a predetermined client identification profile (“CIP”) for the customer:
 (A) if the CIP is acceptable, displaying the customer's personal information on the customer's display device and collecting and verifying a set of co-applicant identification information; 
 (B) if the CIP is not acceptable, requesting a third set of customer identification information that includes personal data of the customer that is different than the second set of customer information; 
 
   (f) for the received second or third set of customer identification information:
 (i) determining the customer's primary residence location; 
 (ii) obtaining a secondary residence location from the customer where the customer's determined primary residence location is not within an operating area of the financial institution; 
 (iii) collecting and verifying a set of co-applicant identification information where there is a co-applicant associated with the customer; 
   (g) factoring whether the customer is a new or existing client of the financial institution in determining a credit score of the customer and presenting terms and conditions to the customer for at least one of the one or more products chosen by the customer; and   (h) receiving an application from the customer for at least one of the one or more products chosen by the customer.   
     
     
         14 . The method of  claim 13  wherein the terms and conditions presented to the customer include at least one of an electronic disclosure, a retail bank services agreement a state pricing guide, a corporate privacy notice, and a tax identification number certification. 
     
     
         15 . The method of  claim 13  further comprising the steps of:
 (i) determining and evaluating a first set of verification data for a demand deposit account (“DDA”); 
 (j) determining a second set of verification data where the first set of verification data is not acceptable; 
 (k) determining and evaluating a third set of verification data where a co-applicant is associated with the customer; 
 (l) evaluating the second set of verification data; 
 (m) determining a status of the customer where the evaluation of either the second or third set of verification data is not acceptable:
 (i) placing the customer in a pending status in the instance where the customer is an existing client of the financial institution; 
 (ii) ending the process in the instance where the customer is not an existing client of the financial institution; 
 
 and 
 (n) approving the customer for a DDA where the second set of verification data is acceptable. 
 
     
     
         16 . The method of  claim 15  wherein the evaluation of the second or third verification data includes applying a predetermined set of business rules. 
     
     
         17 . The method of  claim 16  wherein the predetermined set of business rules includes a go/no go decision of at least one of a social security number evaluation, a tax identification number evaluation, an identity theft evaluation, a retail indicator evaluation, a previous inquiries evaluation, a closure summary evaluation, and a closure details evaluation. 
     
     
         18 . The method of  claim 13  further comprising the steps of:
 (i) presenting option package terms to the customer where the customer has requested an option package, wherein the option package includes at least one of a debit card and an automated teller machine (“ATM”) card; 
 (j) receiving funding information from the customer; 
 (k) verifying the customer's funding information; 
 (l) requesting additional funds from the customer where the customer's funding information is not valid; 
 (m) determining customer debit card information where the customer is eligible for a debit card; 
 (n) determining customer ATM card information where the customer is eligible for an ATM card; 
 (o) determining information to open an online banking account for the customer where the customer is not an online banking client of the financial institution; and 
 (p) generating account numbers at the financial institution for at least one account associated with the customer for at least one of the debit card or the ATM card and presenting final summary information to the customer, otherwise placing the customer in a review process. 
 
     
     
         19 . The method of  claim 18  further comprising the steps of:
 (q) determining an updated client identification profile (“CIP”) for the customer where the customer is an online banking client of the financial institution; 
 (r) creating a CIP for the customer where the customer is not an online banking client of the financial institution; 
 (s) creating a CIP for a co-applicant where a co-applicant is associated with the customer; 
 (t) performing a hot list check of the customer:
 (i) reperforming the hot list check of the customer where the performing of the hot list check of the customer identified a hit; 
 (ii) ending the process where the reperformance of the hot list check of the customer identified a hit; 
 
 (u) performing a risk rating of the customer; 
 (v) performing a hot list check of the co-applicant where a co-applicant is associated with the customer:
 (i) reperforming the hot list check of the co-applicant where the performing of the hot list check of the co-applicant identified a hit; 
 (ii) ending the process where the reperformance of the hot list check of the co-applicant identified a hit; 
 
 and 
 (w) performing a risk rating of the co-applicant. 
 
     
     
         20 . The method of  claim 18  further comprising the steps of:
 (q) creating a demand deposit account (“DDA”) for the customer where the customer's choice of one or more products includes a DDA; 
 (r) creating a savings account (“SAV”) for the customer where the customer's choice of one or more products includes an SAV; 
 (s) linking the customer to at least one of the DDA or the SAV accounts; 
 (t) updating a list of preapproved products for the customer based on additional offers presented by the financial institution that were accepted by the customer; 
 (u) enrolling the customer in an online banking program where the customer has selected online banking program enrollment; 
 (v) initiating an internal transfer where the customer's funding information includes funding via an internal transfer within the financial institution; 
 (w) initiating an external transfer where the customer's funding information includes funding via an external transfer; 
 (x) adding a new account at the financial institution to an existing debit card or ATM card account owned by the customer where the customer has an existing debit card or ATM card account; 
 (y) where the customer has selected overdraft protection:
 (i) if the customer has selected a new line of credit, generating a new credit line (“CRL”) account number, creating a new CRL account, and linking the new CRL account to the customer; 
 (ii) if the customer has not selected a new line of credit, determining if the customer has selected to use an existing CRL account; 
 (iii) linking either the existing CRL account or the new CRL account to the customer's DDA; 
 (iv) linking an existing SAV to the customer's DDA where the customer has not selected either a new line of credit or where the customer has selected to use the existing SAV; 
 
 and 
 (z) initiating an order for a credit card where the customer has selected the credit card.