Patent ID: 7392221
Filing Date: 2008-06-24
Classification: G06Q

Abstract:
1. A method for identifying and retaining customers who are likely to terminate an existing loan contract at a date earlier than the loan termination date identified in the loan contract, wherein the existing loan contract is provided by a lender that provides financing for purchasing a product by a customer from a dealer, said method comprising the steps of: storing customer data in a database including a payment history for each existing loan contract by the corresponding customer; using an early termination model to identify for the lender customers likely to terminate an existing loan contract at a date earlier than the loan termination date identified in the loan contract, the early termination model uses the customer data stored within the database; providing a list of early termination customers identified by the lender to the dealer, each customer identified by the lender on the list of early termination customers is a customer that satisfies the early termination model and is a customer the lender would like to retain as a customer; notifying the customers identified on the early termination list by the dealer of new products and new loan opportunities at competitive loan interest rates, wherein the new loan opportunities are provided by the lender to finance a future purchase of new products from the dealer by the customers identified on the early termination list; and cross selling the new loans to the customers identified in the early termination list before the identified customers terminate the existing loan contracts associated therewith.