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Title:
PEER-TO-PEER LENDING COMPARISON PLATFORM FOR REAL TIME AUTOMATIC BIDDING OF QUOTATIONS/APRS BY PEER LENDERS
Document Type and Number:
WIPO Patent Application WO/2018/229532
Kind Code:
A1
Abstract:
This Invention has methods/process/capacity/explanation of how to get/fetch/receive and enable peer lenders to offer loan quotations/bids/APRs/rate of interests/monthly installments Automatically in real time or instantly/immediately for each/all types/categories of borrowers/loan applicants/loan deals where borrower/loan applicant is required to fill/complete/process one single loan application on one single Peer- to-Peer lending company's website/platform/marketplace and by performing only one single credit check on the Borrower's/Loan Applicant's name to achieve the purpose/object of the Invention.

Inventors:
GUJRAL, Gurprit Singh (TIGER LION FINANCIAL LIMITED, 71-75 SHELTON STREETCOVENT GARDEN, LONDON WC2H 9JQ, WC2H 9JQ, GB)
Application Number:
IB2017/053568
Publication Date:
December 20, 2018
Filing Date:
June 15, 2017
Export Citation:
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Assignee:
GUJRAL, Gurprit Singh (TIGER LION FINANCIAL LIMITED, 71-75 SHELTON STREETCOVENT GARDEN, LONDON WC2H 9JQ, WC2H 9JQ, GB)
International Classes:
G06Q40/02
Other References:
No relevant documents disclosed
None
Download PDF:
Claims:
CLAIMS

First Claim:

1. A Peer-to-Peer Lending ComparisonCompany/website/platform/marketplace to get/fetch/receive or enable peer lenders to offer loan

quotations/bids/ APRs/rate of interests/monthly installments Automatically in real time or instantly/immediately for the borrowers/loan applicants using same/similar/identical/close to same process/methods/techniques mentioned in the Invention or by using some variations/combinations of the

Process/Methods mentioned in the Invention by keeping the Object/Purpose of the Invention same where borrower/loan applicant is required to

fill/complete/process one single loan application on one single Peer-to-Peer lending company website/platform/marketplace and by performing only one single credit check on the Borrower/Loan Applicant to fulfill the

purpose/object of Invention. [Ref. Fig.l & Tablel, Fig.2 & Table2 with Fig.3 & Table3], [Ref Point 2.1.B.(c) in Fig. 2 & Table 2]

Subsequent Claims:

2. Same/similar/identical or close to same methods/process/explanations

mentioned in the Invention or slight combination/variation of methods/process of how to allow/enable the cheapest/general peer lender(s) to make/decide to make other/following peer lender(s) partner in the Loan Deal(s) and share/distribute it's/their risk in the loan over/among other/following peer lender(s) in an automatic way in real time or instantly/immediately. [Ref. Point 2.1.B.(b) in Fig. 2 & Table 2]

3. Same/similar/identical or close to same methods/process/explanations

mentioned in the Invention or slight combination/variation of methods/process of how to allow/enable the cheapest/general peer lender(s) to make the Peer- to-Peer lending company partner in it's/their Loan Deal(s) and thus share the risk in loan deal(s) with the Peer-to-Peer Lending Company in an automatic way in real time or instantly/immediately. [Ref. Point 2.1.B.(a) in Fig. 2 & Table 2]

Description:
DESCRIPTION

Section 1:

Title:Peer-to-Peer Lending Comparison Platform with ability to fetch/acquire the Quotations/APRs from all Peer Lenders through real time automatic Bids/Offers method Lenders in order to deliver the Loan to the borrower from the cheapest(s) bidding Peer Lenders with further methods to enable peer lenders to pass on and share the risk automatically with other peer lenders and with the Peer-to-Peer Lending company also.

Section 2: Background of Invention:

Section 2.1: The Problem:

Section 2.1.1

People/Borrower who are looking for loans, they go to Google, search for Loan with different words/phrases and Google shows them 100s of related results for

Loans. Now just by seeing the search results shown by Google, Borrower/Loan Applicant can not judge/find which lender will approve his/her loan application and Google also do not have any system to give assurance to Loan Applicant that the displayed search results/Loan companies will approve the Loan for him/her.So due to this borrower/loan applicant generally apply the loan on multiple websites generally to be on safer side if in case loan requirement is immediate.

All the loan websites/loan companies where borrower/loan applicant apply the loan, perform the individual/lender's personal credit check on the borrower's name to check borrower's loan eligibility.Every single credit check affects the borrower's credit score/FICO score/Credit profile.The more credit checks the borrower has on his/her name the more it impact the borrower's credit profile and it makes the borrower's credit profile look more riskier to the next lender/loan company.

The lower the credit score or the more Credit- Application checks borrower has on his/her name, the higher the APRs/Rate of Interest borrower gets and thus end up getting an expensive loan which some time borrower can not afford and end up with mis-payments or defaults on them which further affect the borrower's financial life negatively.

Borrower is also not sure if the loan he/she is getting from any lender(if in case any lender/loan company approve the borrower's loan) is the cheapest/best available loan for him/her for his/her credit profile as there is no available way/method to check the quotations/monthly payments with other loan companies/lenders unless the borrower apply the loan with other lenders/loan companies individually or his/her loan application is processed or underwritten with other lenders/loan companies, which again will require multiple credit checks as an inevitable process. Section 2.2: Existing Solution(s)/Prior Art :

Section 2.2.1

There are some Loan/credit comparison websites which shows/displays a list of different lenders/loan companies with their loan application criteria, terms for loans and proposed APRs/Quotations/Rate of Interest.These comparison website(s) work as Affiliate websites where they either redirect the borrower to one or more lender/loan company or show them all available loan lender(s) with whom customer can apply the loan or complete the loan application.The situation here is these Comparison websites do not underwrite/process the loan application on their own website/platform and borrower has to complete the loan application with lender or lenders in order to get/check/compare the loan quotations/ APRs/Rate of Interests. So the problem here stands still.These comparison websites just bring all the loan companies/lenders in one place/one website/one platform but borrower still can not compare the quotes/APRs/Rate of interests unless he/she fill his/her loan application with the listed/displayed lenders individually. Here if borrower fill/complete the loan application with multiple lenders, all these lenders will perform individual credit check on borrower's name which is a big existing problem in this loan industry.

Section 2.2.2

There are some other Peer-to-Peer lending companies who bring some/many/all peer lenders (Institutional and Individual both) in one marketplace/platform/website to deliver the loan to Borrower(s)/Loan Applicant(s). These peer-to-peer lending companies underwrite/process the Loan Application of borrower on their own platform/website and then either categorize the Borrower in one of their Risk category and Peer-to-Peer Lending company offer it's own APR/rate of Interest to the borrower.Then Peer lenders deliver/transfer the loan to such borrower either in parts or in full on the terms & APRs/Quotations decided by Peer-to-Peer Lending company. Or the other way these Peer-to-peer lending companies work is after underwriting/processing the Loan application of borrower, they offer the

Quotations/APRs/Rate of Interest to borrower, which if borrower accepts, then they deliver the Loan to such borrower from their own Balance Sheet and later

sell/securitize these loans(in bulk or in portfolios) to big lenders/Equity

firms/Banks/Investment bankers or Peer lenders. In both cases/ways of working by these peer-to-peer lending comapnies, the APRs/Quotations/rate of Interest is decided by the Peer-to-Peer lending companies only.Peer Lenders here don't have any control or option to offer their individual/personal

APR/Quotation/Rate of Interest.So the main problem stands still which is borrower not able to compare the Quotations/APRs/Rate of Interests among different Loan Companies/lenders/Peers. Borrower is offered One single Quotation/rate of

Ineterst/APR by Peer-to-Peer lending company(marketplace) which borrower can either accept or reject.Peer Lenders do not have capacity/option to offer their individual/personal Quotation/ APR/rate of Interest to borrower with such existing Peer-to-Peer lending comapnies. However in such Peer-to-peer lending companies, there is only One single credit check (performed/done by peer-to-peer lending company) for a Loan Application and many/multiple peer lenders lend the money together to the Borrower. Section 2.2.3

There are few other Peer-to-Peer Lending companies existing in some countries which underwrite/process the Loan Applications on their own

platform/marketplace/servers by performing a single credit check and then allow the Peer Lenders to offer/bid their own individual/personal quotations/APRs/rate of interest for the loan deals. However in all such existing Peer-to-Peer lending companies/marketplaces, once they underwrite/process the Loan Application, they make a Credit Summary/Credit Profile/loan profile with Risk Scoring for the borrower on the basis of their (Peer-to-Peer lending company's) proprietary credit risk model/methods/calculations and then post it either on their

Marketplace/Platform/dashboard or directly notify the peer lenders about new loan application/profile upon which peer lenders view the credit profile/loan profile of Borrower with risk score and offer/bid their(peer lender's) personal/customized Quotations/APRs/rate of interests Manually after viewing/analyzing such Credit profile/Loan profile of Loan Applicant.For every new credit profile/loan profile and for each new loan Application, peer lenders are required to view it manually(which is time consuming) and have to offer the bids/quotations manually by their own choice/decision. So in this case it is possible that these peer lenders may offer two different quotations/APRs to two different borrowers having exactly same Credit Profile/Loan profile.Peer lenders here can discriminate the borrowers as

bids/quotations are offered manually and there is no standardization

rules/policies/methods for peer lenders to offer their quotations/bids.

Section 2.3 : Summary of the Invention/New Solution : Section 2.3.1

This Invention has process/methods/embodiments to create a next generation Peer-to- Peer lending platform/website which will allow/enable peer lenders to create their own account(s)/campaign(s)[Ref. Fig. 2 with Table 2] on the Peer-to-Peer Lending company's website/marketplace/platform individually/separately/together for each different/separate type/category of Borrower/Loan Applicant/Loan profile/Credit profile and predefine individual/separate/personal APRs/B ids/Quotations/Rate of Interests/Monthly Installments for each types/category of borrowers/loan

applicants/credit profile/loan profile in order to offer/bid/fetch/pull the

APRs/Bids/Quotations/Rate of Interests/Monthly Installments automatically in real time or instantly if a borrower's Loan Application/Credit profile/Loan profile match(es) with any/some/all campaign(s)/account(s) created by peer lenders. So with this invention, whenever a new borrower apply the loan with this new Peer-to-Peer lending company, the Peer-to-Peer lending company will first process/underwrite the loan application (including performing the credit check on borrower) [Ref. Fig. 1 & table 1] and then will match/process such created Loan/credit profile with

all/some/any campaign(s)/account(s) created by peer lenders on [Ref. Fig. 2 - Server 2(Data Aggregator)] and automatically pull/fetch the Quotations/Bids/APRs/ Monthly Installments from all those Campaign(s)/Account(s) to which the Loan profile/Loan Application/Credit Profile match(es)(as per the criteria/factor/value/data predefined by peer lenders) [Ref. Fig. 3 & Table 3] and will compare/analyze all the Bids/APRs/Quotations/ Monthly Installments/Rate of Interests automatically pulled/fetched from such campaigns/accounts and show the cheapest/best/some/all Bid(s)/APR(s)/Quotation(s)/ Monthly Installment(s)/Rate of Interest(s) to the borrower/loan applicant.If borrower accept the bid/quotation/ APR/ Monthly

Installment/Rate of Interest then he/she will be delivered/transferred the loan on such cheapest/best APR/Bid/Rate of Interest/ Monthly Installment/Rate of Interest which is pulled/fetched/analyzed/selected after processing the loan application/loan

profile/credit profile with different servers/accounts/campaigns and

comparing/analyzing the bid/APR/quotes/ Monthly Installments/rate of interests from all of the campaigns/accounts of all peer/lenders and with just one single credit check on borrower's/loan applicant's name.

This way the invention has the methods/process/capacity/explanation of how to get/fetch/receive/compare/analyze loan quotations/APRs/rate of

interests/bids/Monthly Installments from many/multiple/some/all peer lenders Automatically and to select/choose/pick the best/general Bid/APR/Rate of

Interest/Quotation/ Monthly Installment automatically in real time or instantly, with borrower/loan applicant just required to fill/complete/process one single loan application on one single Peer-to-peer lending company's

website/platform/marketplace and by performing only one single credit check on the Borrower/Loan Applicant. [Ref. Fig. l, Fig.2, Fig.2.A, Fig.3 and Fig.3. A] , [Ref Point 2.1.B.(c) in Fig. 2 & Table 2]

Section 2.3.2

The invention has methods/capacity/process/explanation of how to allow/enable the peer lender(s) to make other following/next peer lender(s) partner in Loan Deals and share/distribute the risk in the loan over/among other peer lender(s) in an automatic way in real time or instantly/immediately. [Ref. Point 2.1.B.(b) in Fig. 2 & Table 2]

Section 2.3.3

This invention has further methods/capacity/process/explanation of how to allow/enable the peer lender(s) to make the Peer-to-Peer lending company partner in the Loan Deal(s) and thus share the risk in the loan deal(s) with the Peer-to-Peer Lending Company in an automatic way in real time or instantly/immediately. [Ref. Point 2.1.B.(a) in Fig. 2 & Table 2]

Section 3: Detailed description of Invention's methods & Features Section 3.1.A

Loan Application Module(or Serverl) [Ref. Fig. 1 & Table 1] will

ask/populate/show different questions/options/value to Loan applicant on the basis of previous selected/filled option/value/details.Once borrower start the loan application process, he/she will fill few basic details on the basis of which Loan Application Module will ask/show/populate further questions/options/values to the Loan ApplicantOnce Loan Applicant fill up the next question/value/option or give value/data to it, then this Loan Application Module will further show/ask/populate more questions/values/options which will be dependant on the previous answer/value/option and this process will continue till the values/answers to all the questions/options are

provided/filled.This Loan Application Module is the front end/dashboard for Loan Applicant and it will Verify borrower's /loan applicant's Identity, AML/KYC checks, Fraud Checks, Credit Score Check, Internal Credit Risk scoringfusing internal and 3 rd party APIs/Tools/Servers) and then will create the Loan Profile/Credit profile for borrower in the format/way required by Decision EnginefServer 3) to match it with Campaign(s) created by Peer Lenders (on Server 2 -Data Aggregator) to process/underwrite the Loan application in order to show/pull/fetch quotes/APRs/Rate of Interest/Monthly Installments. [Ref. Fig.l, Fig. 3]

Section 3.1.B

Explanations to Fig. 1 : To understand it's working

Embodiment o Server 1- Loan Application Module

1. All Loans Application's categories are in Individual Sense which means on selecting a Sub Category under a Main Category will populate further options/categories and so on.

2. Loan Applicant can create/fill Loan Application using any combination of Options/fields/values/arrows between Table 1.1 and Table 1.2 to find best/cheapest APR/Bids/Quotes for his/her loan application either in real time or otherwise by processing of Loan application with Decision EnginefServer 3) which gets the Quotes/Bids/Offers from Peer Lenders from Data Aggregator (Server 2).[Ref.Fig.l & Fig.2]

3. Table 1.1.1 and Table 1.1.2 will interact in a way so to complete Loan

Application/ processing of all filled data & creation of Loan profile/Information to be sent to Decision EnginefServer 3) in a meaningful way which Server 3 requires to get the Bids /APRs /Quotations for this Loan Application from Data Aggregator-Server 2.

4. Server 1 will check/verify Identity, AML, KYC & Fraud check and will check Credit Score & other financial factors and will make ratios, credit profile, risk profile and send it to Decision EnginefServer 3)

5. Loan Application ModulefServer 1) will display/show

advice(s)/suggestions/explains to the Loan Applicant in real time or otherwise to get better/alternative/other loan deals for him/her after/by interacting with Server 3(Decision Engine). Section 3.2. A

Data Aggregator (Server2) [Reference Fig. 2 & Fig 2.A] is the front- end/dashboard for peer lenders where they can create their account(s) and then campaign(s) to offer bids/quotations/APRs.The method/process to create campaign is described in Fig.2. In such campaign(s) peer lenders can feed/insert all/some of the values/data/information they use/need/require to

underwrite/process a loan application in order to offer a

bid/quote /APR/Monthly Payment/rate of Interest for any loan application. In this Server, Peer Lenders can create their separate/different campaign(s) for separate/different type of loan applicants/borrowers and can predefine the APRs/ Rate of Interest/Monthly Payments/Quotations in each

campaign/account separately [Ref. Point 2.1. B.(c) in Fig.2,Table 2.1.B] to offer customized/separate/different Bids/Offers for every different type/category of loan application in case if application match all of the values

fed/inserted/required by Peer Lender for different options/factors of it's campaign(s) /account(s).[Ref.Fig 2.A]

This data aggregator will then pass on all the data/information of the

factors/values/data required by each and all campaign(s)/account(s) of all peer lenders to the Decision EnginefServer 3) [Ref. Fig.3 & Table3], [Ref. Fig 3.A].This will enable the Decision Engine (Server 3) to considerffind out) what are all the Calculations/checks /values it require to fulfill the requirements of

underwriting/processing of all campaign(s)/account(s) at their individual level and together for all campaigns/accounts of all Peer lenders.

Alternative to Data Aggregator Server (Server 3) [Ref. Fig 3.B]: Standard API

This Data Aggregator Server can be removed from the Embodiment of Whole Invention while keeping the working of other methods/process

same/similar/identical or close to same.This can be done by creating a Standard API which can be given to Peer Lenders to host it in their own personally owned servers/hostings.This Standard API will work exactly same for the account and campaigns creation of Peer Lenders as shown in Fig.2 and to transfer their Loan application processing/underwriting data/criteria to Decision EnginefServer 3) [Ref. Fig.3. B].The only difference is now Peer Lenders are able to create the Account and campaigns on their own Servers instead of Peer-to-Peer Lending Company's Server (Server 2). This Standard API can be built/developed by replicating the workings/process/methods of Data Aggregator ServerfServer 2) either similarly/identically or close to similarly.Standard API now will work as a Link between all the campaigns of all Peer lenders and the Decision

EnginefServer 3). Once the peer lender host/install the Standard API on it's Personal Server, it will let Peer Lenders Create the Campaign(s) in same way [using Table 2.1.A & Table 2.1.B of Fig.2] as if they were creating it on the Data Aggregator Server (Server 2) would they were not using the Standard API.

In this case of using Standard API, working of other methods/process/features of the Invention will remain same. Further if we remove/delete the feature/option/factor where we are asking Peer Lenders if they want to make other Peer Lenders [Ref. Point 2.1.B.(b) in Fig.2] and Peer-to-Peer Lending Company[Ref. Point 2.1.B.(a) in Fig.2] as partner(s) in the Loan deal, then this platform will be a pure Real Time Loan quotation Comparison Website where this website will have the capacity using all other features/methods/process of this Invention in same/similar way to pull/fetch and then compare the Actual Quotes/APRs/Rate of Interests in Real Time and in Automatic way.Here in this case the cheapest lender will lend 100% loan individually in case if any loan application matches all the requirements of any campaign(s) of the Lender.Such Real Time Loan comparison website will allow the borrowers to select the cheapest bidding Lender.The way this Real Time Actual loan quota tion/APRs comparison website will be different than the existing Loan Comparison websites is that in existing loan comparison websites they do not process/underwrite the loan application on their end/on their platform or server(s) (some however perform a Soft Credit check to check borrower's credit score) and rather after showing a proposed range of APRs of Different Lender(s), they ask the Borrower to pick/selected/choose any lender from the List (List is built on the basis of basic details provided by borrower which may include the Credit Score received after soft credit check) and then borrower has to complete/process the loan application on that

selected/picked/chosen lender's personal website/server(s) which can then, after performing Full/Hard credit check on the borrower's name and after processing/underwriting the Loan Application, give Actual quotation/APRs to that particular borrower.Now if borrower do want to compare such Actual Quotation of this selected/chosen lender with the Actual quotations of other lenders, borrower will need to complete/process loan application on other Lender's websites too which will incur multiple Credit Checks(Every lender perform it's own individual Full/Hard credit check on borrower's name before offering the Loan Quotations) on Borrower's name(the problem which this Invention will solve) and which require manual work and comparison of quotations/APRs is done in manual way.

Note: Soft Credit check is different than Full Credit check.Soft credit check is usually used by Landlords/Tenancy Agents/Gyms/Clubs to verify the identity of their customer and which may/can sometime show the credit score of the customer too. But for loan business, lenders need the information of all financial matters related to the borrower which include CCJs, Defaults, bankruptcies, other existing loans,mortgages,credit cards,bank accounts to assess the

Eligibility of borrower and to calculate the risk of lending to such borrower.All such information can only be gained/gathered by performing a Full Credit Check on borrower's name which is sometimes called as Credit Application Check or Hard Credit Check.If there are multiple Full Credit Checks on anyone's name in the short period of time, it makes the Credit Profile of that person very risky for Loan lenders. Section 3.2.B

Explanations to Fig. 2 & Fig. 2. A: To understand it's working

Embodiment of Server 2 (Data Aggregator):

Different campaigns can be created by peer lenders as follows :

a. Installment, Without Guarantor, Tenant, Full time Employed

b. Installment, Without Guarantor, Tenant, Part time Employed c. Installment, Without Guarantor, Home Owner, Full time Employed d. Installment, With Guarantor, Tenant, Full time Employed

e. By making any combination of all categories, boxes, sections, fields and arrows in between Table 2.1.A & Table 2.1.B in Fig.2

- Then Peer Lenders may/can create Sub-Campaigns as follows to offer separate/customized APRs:

* For Eg. Sub-Campaigns are created with main campaign of "Installment, Without Guarantor, Tenant, Full Time Employed"

a. For Credit Score from 500 to 550

b. For Credit Score from 551 to 600

- Then Peer Lenders may/can further create Sub-Sub Campaign to offer more relevant customized APRs:

* For Eg. Sub-Sub Campaign is created with Campaign of ("Installment, Without Guarantor, Tenant, Full time Employed"-For Credit Score 551 to 600 a. For Income from £1000 to £1500

b. For Income from £1501 to £2000

So this way campaign(s) can be further created digging deeper/going downward in the Tablefat the creation time) for the options/values/factors of Table 2.1.A & 2.1.B till the last factor/option/value point By making/selecting/defining any combination of all categories, boxes, sections, fields, factors, values and arrows in between Table 2.1.A & Table 2.1.B

1. All Loans Campaigns' Categories are in Individual Sense which means on selecting a Sub Category under a Main Category will populate further sub categories and which will keep populating sub-sub categories till the value/data for the final point/option/factor/data is not determined/filled/put/selected by the Peer Lender(s).

2. Loan Application/Loan profile/Credit profile will be

processed/analyzed/matched with those relevant Campaign(s)/Account(s) and Sub-Campaign(s)/Sub-Account(s) which matches with loan Application's/Loan Profile's/Credit Profile's details/data/information.

3. Before/anytime/after a application is been processed/matched/analyzed with any/some/all campaign(s) /sub-campaign(s) /account(s), system/server 1/Loan Application Module/Server(s) will make/calculate/compute all/some ratio(s) to enable/process/match a Loan Application/Loan profile as per the requirements of campaign(s) /sub-campaign(s) /account(s).

4. Before/anytime/after doing/performing any calculations/computations or any processing/analyzing. Loan Application Module(Serverl) will check the Identity, perform Anti-Money Laundry or KYC checks & Fraud checks and will check/analyze/calculate Credit Score and will calculate different ratio(s), make credit profile, risk profile to match it with campaign(s) created by Peer Lenders and will process the application with relevant Campaigns/Sub- campaigns/accounts of all of the peer lenders using Server 3(Decision Engine) and Server 2(Data Aggregator), and then Server 3(Decision Engine) will pull/fetch/calculate the Bids/APRs/Monthly Payments/rate of Interests from the campaigns which Server 3(Decision Engine) will then pass/send to Server l(Loan Application Module) to show/display to Borrower/Loan Applicant and/may let the Borrower/Loan Applicant to use it.[Ref. Fig.2, Fig.2.A, Fig.3, Fig.3.A]

5. Explanation of how Real Time Automatic Bidding is successfully implemented in peer-to-Peer lending model with the process/methods developed by this Invention.

This Invention has methods/process/explanation of how Peer Lenders may/can predefine the actual/minimum/range of values for APRs/Rate of Interest for the calculation/computation of offer Bids for APRs/Monthly Installments/Rate of Interests in Real Time in an automatic way if any Loan application/Loan profile/Credit Profile match(es) a campaign(s)/sub- or sub-sub

campaign(s)/account(s) created by a Peer Lender.[Ref. Point 2.1.B.(c) in Fig.2, Fig.3 & Fig.3.A].

In Point 2.1.B.(c) when the peer lender define/mention/fill the value of

Percentage(%) they (Peer Lenders) want to offer if any Loan

Application/borrower/credit profile/loan profile match(es) with

all/any/some(as required/mentioned by peer lender) of the

criteria/factors /values of such campaign, it creates a process which enables the Peer lenders to Bid/Offer the APRs/Quotations in Real Time or

instantly/immediately. Whenever a new application is processed by server(s), the server(s) will identify such relevant campaign(s) /Account(s) matching the Loan Application's details/processed details for every loan Application and pull/fetch/pick the APR/rate of interest value automaticallyfwhich is already defined by Peer lender in the campaign) from such campaign/account through internal programming/process/tools which can further be used to

calculate/compute/compare monthly installments/quotations through programming/process in an automatic way in real time or instantly and thus this invention can compare/analyze/show bids/APRs/rate of Interests/Monthly payments of/from all/some/any Peer Lender automatically and can

display/show such APRs/Bids/rate of Interests/Monthly Installments to the Loan Applicant/Borrower in an automatic way and in Real Time.

6. Explanation of how to enable/allow a Peer Lender to share/distribute the risk in Loans with Peer-to-Peer Lending company in real time with the methods/process developed by this Invention.

This Invention has methods/process/explanation of how Peer Lender(s) may/can predefine the Percentage(%)/Value/Amount of actual/total Loan amount for which they want to make Peer-to-Peer lending company a partner in their loan deals in an automatic way in real time or instantly and thus can share/distribute the risk with the Peer-to-Peer lending company in an automatic way. [Ref. Point 2.1.B.(a) in Fig. 2 & Table 2]

Eg: In Point 2.1.B.(a) if the peer lender selects/opt "Yes" to make the

Company(Peer-to-Peer Lending company) as a partner in the loan deal(s) for any loan application matching the campaign, they (Peer Lenders) then define how much Percentage of its actual/total loan amount theyfpeer lenders) want the company(Peer-to-Peer lending company) to contribute/lend in the Loan Deal if the/any/all Loan Application(s) /borrower(s) /credit profile(s) /loan profile(s) matches with all/any/some(as required/mentioned by peer lender) of the criteria/factors /values of this/such campaign(s)/account(s) , then for the loan deal of that/any/all borrower(s) /loan application(s) /credit profile(s) /loan profile(s) matching such campaign/account, the Server(s) will automatically make this Company (Peer-to-Peer lending company) a partner in such loan deal(s) and in such ratio/percentage mentioned/required/defined by the peer lender in such campaign/account for such type/category of borrower/loan applicant/loan profile.

Eg: If the Total Loan Amount requested by borrower is $100 and the cheapest Peer Lender-A ,to whose campaign such Loan Application is matched by Decision Engine (Server 3), has previously decided/opted "Yes" in it's campaign in Point 2.1.B.(a) to make Peer-to-Peer lending company a partner in all loan deals that matches the criteria of such Campaign, and decided 10% to be Contributed by Peer-to-Peer Lending company, then in this case at the time this borrower's loan application for $100 match with this campaign, the Cheapest Peer Lender-A become the owner of the Loan Deal and since it has defined in it's campaign that Peer-to-Peer lending company will lend 10% of it's Loan Deals, so Peer-to-Peer lending company is automatically becomes the partner of Cheapest Peer lender- A for this Loan Deal in real time and by $10. Here cheapest peer lender-A is not required to do anything manually to make Peer-to-Peer lending company it's partner in this loan deal.lt is done automatically by internal

programming/process & by linking of all/different server(s). 7. Explanation of how to enable/allow a Peer Lender to share/distribute the risk in Loans with other Peer Lenders in real time with

methods/process developed by this Invention.

This Invention has methods/process/explanation of how Peer Lender(s) may/can make the other next/following peer lenders as partner(s) in the loan deal in an automatic way to share/distribute the risk in the Loan automatically in real time & instantly. [Ref. Point 2.1.B.(b) in Fig. 2], [Fig.2, Fig.2.A, Fig.3, Fig.3.A].

In Point 2.1.B.(b) if the peer lender(s) selects/opt "Yes" to make other/following Peer Lenders as partners in the loan deals, it (such Peer Lender) then define how much Percentage of the actual/total loan amount it is (such peer lender) is willing to Consider itself first(i.e how much percentage out of total/actual loan such peer lender willing to lend from it's own account) if a Loan

Application/Borrower/Loan profile matches the criteria/factors/values required by such campaign and then for the rest of Loan Amount it make(s) other peers it's partner(s) for that loan deal.Thus now for the loan deal(s) of any/all borrower(s) /loan applicants matching such campaign/account, the Server(s) will automatically check how much Percentage of the Loan Amount, the first/original peer lender willing to Consider itself and will automatically release the remaining Loan Amount to other following/next peer lenders and automatically make next/following peer lender(s) partner in such loan deal(s) and in such a ratio/percentage mentioned/defined by the following/next peer lender(s) in their own personal campaigns/accounts for such type/category of borrower/loan applicant and in such cases the Original/the first peer lender will be a partner in the loan deal only for the Percentage it defined in its own such campaign/account and next/following peer lenders will automatically become partner(s) in such loan deal(s) by the Percentage they(following peer lenders) defined in their personal campaign(s)/account(s).

Eg: If the total Loan Amount requested by borrower is $100 and the Cheapest Peer Lender-A, to whose campaign such Loan Application of such borrower is matched by Decision Engine (server 3), opted/chose "Yes" in it's Campaign in Point 2.1.B.(b) to make other following/next Peer Lenders partner in Loan deals for the loan applicants /borrowers matching such campaign, and has

decided/inserted 30% as the Value to Consider out of the total actual loan amount, then in this case such Cheapest Peer Lender-A will deliver/lend only $30 to such borrower and will release $70 to the other following/next peer lenders Automatically (through programming/methods/process of the

Invention). Now for say, the next Cheapest Lender-B also opted "Yes" to make other peer lenders partner in their loan deals after considering 60% of the Actual Loan amount, then in such case the Actual Loan amount for Peer Lender-B is $70 and as it defined to Consider 60% of it, so Peer Lender-B will lend/transfer $42 and will release remaining 40% (i.e $28 here) automatically to the other following/next peer lenders. Now again for say, the next Cheapest Peer Lender-C did not opt/decided to make any peer lender partner for it's loan deals and want to Consider 100% of the Actual Loan amount, then the Actual Loan amount for Peer Lender-C is $28 and it will lend/transfer full $28 to the borrower. Thus,

Peer Lender A has 2 partners in this Loan Deal- Peer Lender B and Peer Lender C Peer Lender B has 1 partner in this Loan Deal- Peer Lender C

Peer lender C has no partner in this Loan Deal.

Section 3.3. A

Decision Engine (Server 3) [Reference Fig. 3 & Table 3] will match/process the Loan Application/Loan Profile with all of the campaign(s)/account(s) created by peer lenders on Server 2(Data Aggregator). Once relevant/matched campaign(s)/account(s) are filtered/found, after processing the details mentioned in Loan Application/Loan Profile with the Campaign(s)/Account(s) created by the peer lenders, then Decision Engine (Server 3) will

process/underwrite the Loan Application through all these matched

campaign(s)/account(s) of all peer lenders and then will pull/fetch/acquire the Bids/Quotations/APRs from these Campaigns on Server 2 (Data Aggregator) & show the Bids/Quotations/APRs/ Monthly payments to the Borrower/Loan applicant in Server 1 (Loan Application Module) either in the form of bids or general display or list mode showing the cheapest bids/quotations only or in sequence/filter selected.

Section 3.3.B

Explanations to Fig. 3 & Fig. 3. A: To understand it's working

Embodiment of Server 3 - Decision Engine

1. Server 3(Decision Engine) is the link between Server l(Loan Application Module) and Server 2(Data Aggregator).

2. Server 3 has the capacity/process/methods/programming to gather/provide data/information to-and-fro from both Servers 1 & 2 in order to efficiently process a Loan Application and as and when required by either Server (s).

3. Every single/multiple change(s) in any/multiple data/information/values of either Server 1 or Server 2 will have real time instant/immediate effect on the working/processing of Server 3 and/or other servers and the respective result(s). Section 3.4

Server 3 (Decision Engine) will/may use its own proprietary

programming/coding and set of tools/APIs/methods/processes to

advice/explain/suggest the borrower (after/by interacting with Server 1 & 2) way(s) to improve his/her loan/credit profile in order to get/receive/pull/fetch the better/cheaper Bids/APRs/Quotations for the loan deal(s).All these suggestions/tips/advices will be displayed to borrower through Server 1 either in real time or otherwise.

Eg. Working of this Section: If borrower's spare income per month is $200 but for the loan amount which he/she has applied, he/she gets the cheapest bid/offer of monthly payment of $180 which is almost equal to the spare income of borrower.So in this case if some unexpected expense appear to the borrower during any month, then there are chances this borrower will make default in monthly payments as he/she does not have room for any extra expense(s).So this Loan Profile/borrower will seem very risky to Peer Lenders and they will offer comparatively higher Bid/APRs/Quotations for such borrowers which will make the Loan expensive. So in such cases Decision Engine (Server 3) will advise/suggest the borrower (after/by interacting with Server 1 & 2) about how to make this loan cheaper/affordable for him/her.Suggested advices could be like to increase the loan term /tenure which will lower down the monthly payments and borrower will have more room in spare income to cover unexpected expenses or to reduce the Loan Amount to bring down the monthly installments or select a different category of loan(like secured loan) if Decision Engine find the customer eligible for it. Thus now this same borrower's loan profile may look comparatively less risky to Peer Lender and they may offer comparatively cheaper Quotations/APRs/rate of Interest to this borrower.

Section 3.5

[Explanation of Point 2.1.B.(b) in Fig.2]

The invention will enable/allow a peer lender to share/distribute it's risk in the loan over/among other/following peer lender(s) in automatic way and in any

Percentage(%) of the Actual Loan amount.The original peer lender (first cheapest peer lender) will decide how much percentage(%) of loan it want to consider to deliver/lend to customer from it's own account and to release the remaining portion of Loan Amount for the other next/following peer lenders who will also have capacity to consider any % of the Loan Amount from the Actual Loan Amount (for other following/next peer lender, the actual loan amount is the amount released to it by the previous cheapest peer lender) and further release the rest loan amount to other next/following peer lenders and this may continue till the last peer lender available for that loan deal or till the Loan is fully deliver/served, whichever is earlier.

Examples to understand this section:

Eg.l

If the total Loan amount asked by borrower is $100 and the cheapest Peer Lender-A (with APR 7.25%, for say) opted to make other Peer Lenders partner in the loan deal for this type of borrower/loan profile after considering 50% of the Actual Loan amount, then in this case Peer Lender-A will only transfer/lend $50 to this borrower @7.25% APR.Then here the next cheapest Peer Lender-B(with APR 7.30%, for say) also opted to make other peer lenders partner for this type of borrower/loan profile after considering 70% of Actual Loan amount, then in this case Peer Lender-B will transfer/lend only $35 (i.e 70% of $50, for Lender B Actual Loan amount is $50) and will release the remaining portion of loan (i.e $15) to the next cheapest Peer Lender.Then the next cheapest Peer Lender-C did not opted to make other peer lenders partner in this type of Loan

Borrower/Loan profilefi.e Peer Lender-C predefined if any such borrower/loan profile comes/matches to it's campaigns, it will deliver/lend 100% of its loan amount/actual loan amount itself) , then in this case Peer Lender-C will lend $15 @7.35% APR to the borrower.

Now internal servers (Peer-to-Peer Lending company's servers) will calculate the average Bid/APR for the borrower and will show the Average Bid/APR to borrower and if borrower accepts this Average Bid/APR then respective amounts will be collected/deducted from all of the above peer lenders in their respective ratios and will be transferred/lent to borrower in one go.

For this Example, Peer-to-Peer Lending company will collect $50 fro Peer Lender-A's account, $35 from Peer Lender-B's account & $15 from Peer Lender- C's account and will transfer full $100 to the borrower in one go instantly.

Eg. 2:

If the borrower applied for the Loan amount of $100 and the cheapest Peer Lender-A (with APR of 7.25%) opted to make other peers/lenders partner in such loan profile/deal after considering 50% of Actual Loan amount but there is no other peer Lender who offered bid/quotations or there is no other peer lender willing to lend to such type of borrower/loan profile, so if borrower accepts the Bid/Quotations of Peer Lender-A then in this case Peer Lender-A will deliver/lend 100% of it's Actual Loan amount i.e $100 to borrower @7.25%., as it predefined the criteria in it's campaign(s) (created on Server 2) of types of borrowers/credit profile to whom it is willing to lend at a predefined APR/rate of Interest.

Note: Concept of making other peer lenders partner in a loan deal will only work if there is next cheapest or next peer lender available who also offered the bid/quotations for such loan profile/loan applicantln case of non-existence of next peer lender, the previous peer lender (i.e the previous cheapest peer lender) will deliver/consider/lend the 100% of it's Actual Loan amount( which may be or may not be equal to the Total Loan amount of borrower). Section 3.6

[Explanation of Point 2.1.B.(a) in Fig. 2]

This invention will enable or provide capacity to Peer lenders to make the Peer- to-Peer lending company a partner in their loan deals if they(Peer lenders) want to share/distribute the risk with the Peer-to-Peer lending company in a predefined/automatic way.

Examples to understand this Section:

Eg.l :

The total loan amount applied by borrower is $100 and the cheapest Peer Lender-A(with APR 7.25%) opted to make other peer lenders partner in such loan deal after considering 50% of it's actual loan amount and has also made the Peer-to-Peer lending company a partner in it's Loan amount by 10%. So in this case for Peer Lender-A the actual loan amount is $100 and the Considered Loan amount is $50 (i.e 50% of Actual Loan amount). But since Peer Lender-A has made the Peer-to-Peer lending company a partner in it's loan deal by 10% of it's considered loan amount i.e by $5 here, so Peer Lender-A will lend/transfer $45 to this borrower @7.25% APR and the Peer-to-Peer lending company will transfer $5 @7.25% APR i.e same APR of that of the Peer Lender-A. So both Peer Lender and the Peer-to-Peer lending company are at the same level of risk.Now since Peer Lender-A considered 50% of total loan amount, so the remaining loan amount will be released to the next cheapest peer lender.Next cheapest Peer Lender-B(with 7.30% APR, for say) did not opted to make other peer lenders partner in Loan but chose/opted to make the Peer-to-Peer lending company a partner in its loan by 15% of its considered Loan AmountHere the Actual Loan amount for Lender B is $50 (as released by previous cheapest peer lender-A), and since it has not opted to make any other Peer Lenders partner in this Loan deal so it means Peer lender-B will consider 100% of it's Actual Loan amount i.e Peer Lender-B will consider $50. But since Peer Lender-B has opted to make the Peer-to-Peer lending company a partner in the loan deal by 15% of it's

Considered loan amount, so here the Peer-to-Peer lending company will lend/transfer $7.50 (15% of $50) @7.30% APR from its own Balance

Sheet(Peer-to-Peer Lending company's balance Sheet/Bank account) and Peer Lender-B will transfer/lend 85% of Loan Considered i.e $42.50 @ 7.30% APR. So now the Peer-to-Peer lending company will collect $45 from Peer lender-A, $42.50 from Peer Lender B and $12.50 from its own Balance sheet to transfer $100 to borrower.Final APR to borrower will be re-calculated after

averaging/calculating the amount considered by both peer lenders and their respective APRs.

Section 3.7

Peer Lenders can opt/decide any Percentage(%)of their respective actual loan amount to be considered by them and can release the rest loan amount to the following cheapest peer lenders, if they are available.To consider a % of the loan amount, the peer lender will only consider that part of the Total loan amount which is released by the previous cheapest peer lender to it, if it is the case. So for every following peer lender, the Actual Loan amount will differ.Such peer lenders can make other peer lenders partners in their loan deal only from their own respective Actual Loan amounts. So if a Peer Lender is considering a % of its actual loan amount, then for the rest part of its actual loan amount "it is making"/"it want to make" other peer lenders it's partner in the loan deal.

Section 3.8

Peer Lenders can make the Peer-to-Peer lending company a partner in their loan only for a Percentage(%) of their Considered Loan amountSo if considered loan amount is 50% of actual loan amount, then peer lender can make the Peer-to- Peer lending company a partner only out of such 50% of the Actual Loan amountSo Peer Lenders can/may share the loan with the Peer-to-Peer lending company from within their own respective considered Loan Amount.

Eg: Total Loan amount of a borrower is $100 and cheapest Peer Lender A decided to consider 50% of the Actual Loan and so releasing remaining to make other peer lenders partner and also decided to make the Peer-to-Peer lending company 10% partner for such loan deal.Then here considered Loan amount for Lender A is $50 and share of the Peer-to-Peer Lending company is 10% of Peer Lender- A's considered loan amountSo share of Loan Amount for the Peer-to- Peer lending company is 10% of Considered Loan amount of Peer Lender-A i.e $5 and for the Peer Lender A it is 90% of considered loan amount i.e $45.

Section 4:

Embodiment of the Invention:

Fig. 3 along with Fig. 3.A is a partial view of how different Servers will operate /work in their individuality and together with other Servers to meaningfully operate and/or process a Loan Application made by borrower to achieve the object of this invention i.e to make loans cheaper, faster & easier by comparing quota tions/bids/APRs from all peer lenders and in automatic way in real time/instantly to increase the speed of loan fulfilling/delivery process and to enable peer lenders to distribute their risk to/among other peer lenders and with the Peer-to-Peer lending company too.

Alternative Embodiments:

Fig. 3.B is a partial view of how different Servers and Standard API will operate /work in their individuality and together with other Servers to meaningfully operate and/or process a Loan Application made by borrower to achieve the object of this invention i.e to make loans cheaper, faster & easier by comparing quota tions/bids/APRs from all peer lenders and in automatic way in real time/instantly to increase the speed of loan fulfilling/delivery process and to enable peer lenders to distribute their risk to/among other peer lenders and with the Peer-to-Peer lending company too.