Patent ID: 8175972
Filing Date: 2012-05-08
Classification: G06Q

Abstract:
1. A computer associated with a bank defining a bank computer to facilitate activating a plurality of prepaid card accounts and to release a plurality of loan proceeds to the plurality of prepaid card accounts, the bank computer comprising: a processor positioned to facilitate activating a plurality of prepaid card accounts positioned remote from a bank computer and to facilitate releasing loan proceeds to the plurality of prepaid card accounts, the plurality of prepaid card accounts being associated with a plurality of prepaid card processors each having a different preselected loan processing format; non-transitory computer-readable medium encoded with computer program and operable on the bank computer, the computer program including: a prepaid card processor taxonomy module to determine the plurality of prepaid card processors to be associated with loan data received from a second computer associated with a lending institution defining a lending institution computer, the prepaid card taxonomy module comprising a set of instructions that, when executed by the bank computer, cause the bank computer to perform the operations of: processing a plurality of loan authorizations for a plurality of approved loans each pending activation of one or more of the plurality of prepaid card accounts responsive to receiving loan data from the lending institution computer in a first preselected loan processing format, the lending institution computer configured to approve a plurality of borrowers for the plurality of loans each pending activation of one or more of the plurality of prepaid card accounts, and determining one or more of the plurality of prepaid card processors to be associated with one or more of the plurality of loans responsive to receiving loan data from the lending institution computer, the one or more of the plurality of prepaid card processors each having a preselected processing format different than the first preselected loan processing format and being different from each other, a format translator module to format the loan data to be compatible with each of the one or more of the plurality of prepaid card processors, the format translator module comprising a set of instructions that, when executed by the bank computer, cause the bank computer to perform the operation of: converting the loan data received in the first preselected loan processing format into a second preselected loan processing format to thereby be compatible with the one or more of the plurality of prepaid card processors responsive to the first preselected loan processing format being determined to be different with the one or more of the plurality of prepaid card processors, a loan manager module to manage the plurality of loans pending activation of one or more of the plurality of prepaid card accounts, the loan manager module comprising a set of instructions that, when executed by the bank computer, cause the bank computer to perform the operations of: communicating the loan data in a compatible format to the one or more of the plurality of prepaid card processors to thereby request activation of one or more of the plurality of prepaid card accounts at each of the one or more of the plurality of prepaid card processors on behalf of one or more corresponding borrowers, each of the one or more of the plurality of prepaid card accounts configured to have an associated prepaid card, and releasing loan proceeds of one or more of the plurality of loans pending activation of the one or more of the plurality of prepaid card accounts to the one or more of prepaid card processors so that the loan proceeds are available to the corresponding borrower and each of the prepaid cards associated with the one or more of the plurality of prepaid card accounts are converted into a loan delivery apparatus, the releasing being responsive to receiving notification from the one or more of the plurality of prepaid card processors that the one or more of the plurality of prepaid card accounts have been activated.