Using automated data validation in loan origination to evaluate credit worthiness and data reliability
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United States of America Patent
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Apr 14, 2020
Grant Date -
Nov 23, 2017
app pub date -
May 18, 2016
filing date -
May 18, 2016
priority date (Note) -
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status (Latency Note)
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Abstract
A system, comprises a device including a memory with an application configured to validate data in an acquisition installed thereon, wherein the system is improved by the application being configured to electronically receive a query for a financial transaction between a first party and a second party, electronically transmit an encryption key from the second party to a third party, electronically transmit the encryption key from the second party to a data source and accessing a first set of a data associated with the financial transaction, electronically receive the first set of data associated with the financial transaction and validate the first set of data associated with the financial transaction by applying validation heuristics and output a finding report and provide the second party validation heuristic output in the finding report.
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