Patent ID: 7716125
Filing Date: 2010-05-11
Classification: G06Q

Abstract:
1. Apparatus for generating and processing lending and borrowing orders in a networked loan market and lending management system, the apparatus comprising: a computer; a computer readable medium containing software; a borrowing order receiver, configured to receive, over a communication network, borrowing orders from at least one computing device operable by a borrower, each borrowing order comprising borrower-requested loan terms; a lending order receiver, configured to receive, over a communication network, lending orders from at least one computing device operable by a lender, each lending order comprising lender-requested loan terms; and a matcher, associated with said borrowing order receiver and said lending order receiver, and configured to automatically match borrowing orders and lending orders using a multi cyclic process that is optimized according to criteria of an operator-definable utility function, the matcher being further configured to provide said matches using a multi dimensional matrix of cells being populated according to said orders, wherein each cell of the matrix includes a first value indicative of whether the borrower-requested loan terms of a particular borrowing order satisfy the lender-requested loan terms of a particular lending order and a second value representative of an amount of the particular lending order to be allocated to the particular borrowing order during a current cycle of a multi cyclic optimization process, and wherein during each cycle of the optimization process, the matcher is configured to: