Abstract:
According to one embodiment, an apparatus may comprise a memory unit and a processing unit. The memory unit may store loan and tax regulations of a plurality of countries. The processing unit may receive a country designation and a currency designation. The processing unit may determine, based at least in part upon the loan regulations associated with the country designation, at least one service location that is allowed to service a loan according to the currency designation and the country designation. The processing unit may further determine, based at least in part upon the retrieved tax regulations associated with the country designation, a tax withholding on the loan.

Description:
TECHNICAL FIELD 
       [0001]    This disclosure relates generally to a tool for enhancing competency of foreign regulations. 
       BACKGROUND 
       [0002]    As the world becomes increasingly digital and interconnected, regulation of foreign transactions and services grows more complex and intricate. When a client requests a merchant to provide a good or service in a foreign country, the merchant should know the regulations of that country that pertain to the requested good or service. However, inexperienced merchants may not know all the relevant regulations, which may cause the transaction to be hindered later on. 
       SUMMARY OF THE DISCLOSURE 
       [0003]    According to one embodiment, an apparatus may comprise a memory unit and a processing unit. The memory unit may store loan and tax regulations of a plurality of countries. The processing unit may receive a country designation and a currency designation. The processing unit may determine, based at least in part upon the loan regulations associated with the country designation, at least one service location that is allowed to service a loan according to the currency designation and the country designation. The processing unit may further determine, based at least in part upon the retrieved tax regulations associated with the country designation, a tax withholding on the loan. 
         [0004]    Certain embodiments may provide one or more technical advantages. A technical advantage of one embodiment includes reduced network traffic by minimizing the number of data retrievals by service providers. By retrieving and storing foreign regulations, the embodiment apparatus may reduce the number of data retrievals each service provider must perform in order to determine how best to provide the services in a particular country. Certain embodiments may include none, some, or all of the above technical advantages. One or more other technical advantages may be readily apparent to one skilled in the art from the figures, descriptions, and claims included herein. 
     
    
     
       BRIEF DESCRIPTION OF THE DRAWINGS 
         [0005]    For a more complete understanding of the present disclosure, reference is now made to the following description, taken in conjunction with the accompanying drawings, in which: 
           [0006]      FIG. 1  illustrates a system implementing a cross border competencies tool; 
           [0007]      FIG. 2  illustrates a server of the system of  FIG. 1 ; 
           [0008]      FIG. 3  is a flowchart illustrating a method implemented by the server of  FIG. 1 . 
       
    
    
     DETAILED DESCRIPTION 
       [0009]    Embodiments of the present disclosure and its advantages are best understood by referring to  FIGS. 1 through 3  of the drawings, like numerals being used for like and corresponding parts of the various drawings. 
         [0010]    As the world becomes increasingly digital and interconnected, regulation of foreign transactions and services grows more complex and intricate. The regulations, both of the source country and the destination country, may give rise to several issues including issues associated with tax, licensing, documentation, etc. For example, suppose a company based in country A wishes to build a warehouse in country B. In order for the company to build the warehouse in country B, the company would need to acquire financing in country B. The regulations of country A and/or country B may determine which loan provider the company uses, how much money the company may borrow, what type of loan is allowed, the amount of tax withholding on the loan, and other related issues. However, loan providers in country B and country A may not be familiar with the regulations of the other country. As a result, the process by which the company acquires financing for its new warehouse may be slow and inefficient. 
         [0011]    The proposed system may gather information relevant to transactions and services in multiple countries. The information may then be used to make transactions and services more efficient. In the previous example, the system may be used to gather regulations pertinent to the financing needed to build the warehouse in country B. For example, the system may gather loan regulations and tax regulations of country A and country B. 
         [0012]    Furthermore, the system may gather information associated with the loan providers&#39; ability to service a loan in country B. For example, the system may gather the office locations of the loan provider in country A as well as employee information of the office locations. In this manner, when the company requests a loan from the loan provider in country A, the system may provide answers to questions such as which office location is best suited to service the loan in country B, what tax implications are there for a loan provider in country A to provide a loan in the currency of country B, and is there any special documentation required to provide a loan in country B. 
         [0013]    In this manner, a service provider may provide services efficiently in a foreign country even if the service provider is not familiar with the regulations of the foreign country. Moreover, the service provider may efficiently determine whether the service provider is able and/or is allowed to provide services in a particular country. These efficiency gains may lead to reduced network traffic as representatives of the service provider make fewer calls and data pulls in order to determine whether the service provider can provide services in a foreign country. 
         [0014]      FIG. 1  illustrates a system  100  implementing a cross-border competencies tool. As provided in  FIG. 1 , system  100  may include a device  114 , network  120 , server  110 , and databases  150 . A user  112  may use device  114  to access server  110  over network  120 . Server  110  may be used to aggregate and analyze various regulations of particular countries. Server  110  may then return the results of that analysis to device  114 . In this manner, system  100  may allow user  112  to determine the most efficient way of providing services in a particular country. 
         [0015]    To better understand the functions of system  100  and server  110 , an example of servicing a loan will be used. However, it is understood that system  100  and server  110  may be used in a variety of contexts and areas in order to help user  112  understand the regulations of a foreign country, such as providing utilities, construction and zoning, sale of food products, and labor management. 
         [0016]    User  112  may use device  114  to interact with system  100 . For example, user  112  may use device  114  to request information about a country. Server  110  may then return the requested information to device  114 . Device  114  may use a processor and a memory to execute an application in order to perform any of the functions described herein. Device  114  may be a mobile device such as a cell phone or tablet. Device  114  may be a personal computer, a workstation, a laptop, a wireless or cellular telephone, an electronic notebook, a personal digital assistant, a tablet, or any other device (wireless, wireline, or otherwise) capable of receiving, processing, storing, and/or communicating information with other components of system  100 . Device  114  may also include a user interface, such as a display, a touchscreen, a microphone, keypad, or other appropriate terminal equipment usable by user  112 . 
         [0017]    Network  120  facilitates communications between device  114  and server  110 . This disclosure contemplates any suitable network  120  operable to facilitate communication between the components of system  100 . Network  120  may include any interconnecting system capable of transmitting audio, video, signals, data, messages, or any combination of the preceding. Network  120  may include all or a portion of a public switched telephone network (PSTN), a public or private data network, a local area network (LAN), a metropolitan area network (MAN), a wide area network (WAN), a local, regional, or global communication or computer network, such as the Internet, a wireline or wireless network, an enterprise intranet, or any other suitable communication link, including combinations thereof, operable to facilitate communication between the components. This disclosure contemplates end networks having one or more of the described properties of network  120 . 
         [0018]    Server  110  may perform various functions in order to provide information about requested countries to user  112 . Server  110  may include a processor  132  and a memory  134  that performs the functions described herein. For example, memory  134  may perform storage functions such as storing loan regulations of foreign countries and processor  132  may analyze these loan regulations to determine a best course of conduct for user  112 . 
         [0019]    Memory  134  may store, either permanently or temporarily, data, operational software, or other information for processor  132 . Memory  134  may include any one or a combination of volatile or non-volatile local or remote devices suitable for storing information. For example, memory  134  may include random access memory (RAM), read only memory (ROM), magnetic storage devices, optical storage devices, or any other suitable information storage device or a combination of these devices. 
         [0020]    Processor  132  may control the operation and administration of server  110  by processing information received from network  120  and memory  134 . Processor  132  may include any hardware and/or software that operates to control and process information. Processor  132  may be a programmable logic device, a microcontroller, a microprocessor, any suitable processing device, or any suitable combination of the preceding. 
         [0021]    Server  110  may gather information from databases  150 . Databases  150  may store information associated with particular countries. For example, databases  150  may store loan regulations and tax regulations associated with various countries. Server  110  may gather and store this information from databases  150 . After the information has been stored, server  110  may use that information to respond to requests  180  from user  112 . 
         [0022]    Server  110  may receive regulations  170  from databases  150 . Regulations  170  may include loan regulations and/or tax regulations associated with various countries. For example, the loan regulations may indicate whether a foreign office is allowed to service a loan into that country, whether same-day funding and/or a swing-line loan is allowed, whether a cross-border license such as a European Economic Area (EEA) passport is required to service a loan in the country, and other requirements associated with servicing the loan. These other requirements may include booking requirements, documentation requirements, execution requirements, and/or disclosure requirements associated with servicing the loan. For example, regulations  170  may indicate that in order for a loan to be effective in a particular country, the loan must be written and executed by three witnesses and the terms of the loan must be disclosed to a particular agency. Server  110  may then use regulations  170  to inform user  112  how best to service a loan to a particular country. 
         [0023]    In particular embodiments, server  110  may gather and store general business regulations from databases  150 . For example, the business regulations may indicate restrictions or requirements associated with soliciting business in a particular country. As another example, the business regulations may indicate restrictions and/or requirements associated with providing business advice in a particular country. Server  110  may then use these business regulations to resolve particular issues associated with providing business in a particular country. 
         [0024]    Server  110  may gather and store employee information from databases  150 . For example, the employee information may include the names and language proficiencies of employees of a particular service provider. When the loan provider is asked to service a loan in country B, server  110  may use the employee information to determine which employees and/or office locations are best suited to service that loan. For example, an employee who is fluent in the language of country B may be best suited to service the loan in country B. 
         [0025]    Server  110  may further gather and store client preferences. Client preferences may be provided by user  112  and/or stored in databases  150 . Server  110  may use client preferences to make recommendations when multiple options are available. For example, the client preferences may indicate that a client prefers to have loans serviced in country A even if the loan is to be provided in country B. If the client needs a loan in country B, server  110  may determine, based on regulations  170 , that the loan may be serviced in either country A or country B. Then based on the client preferences, server  110  may determine that it would be more desirable to service the loan in country A than country B. Server  110  may then provide a ranking or prioritization of service locations. For example, server  110  may indicate that servicing the loan in country A is preferable to servicing the loan in country B. 
         [0026]    Server  110  may receive a request  180  from device  114 . Request  180  may indicate a service request in a particular country. For example, request  180  may indicate that a company in country A is requesting a loan be provided in country B. Request  180  may also indicate that the loan should be provided in a particular currency. Server  110  may use stored information gathered from databases  150 , such as regulations  170 , to respond to request  180 . For example, server  110  may determine based on the stored information that a loan provider is allowed to service a loan in country B according to the designated currency. As another example, server  110  may determine the amount of tax withholding on the loan required by the tax regulations of country B. 
         [0027]    Server  110  may use information gathered and stored from databases  150  to form a response  190  to request  180 . Server  110  may then communicate response  190  to device  114 . Response  190  may include information associated with providing a requested service. For example, if the requested service is providing a loan in a particular country, then response  190  would include information associated with providing that loan in the country. As an example, response  190  may indicate the office locations that are allowed to service a loan of a particular currency in a designated country. As another example, response  190  may indicate the tax withholdings on the loan. 
         [0028]    In particular embodiments, response  190  may indicate additional information associated with servicing a loan in a particular country. For example, based on stored client preferences, response  190  may indicate a ranking or priority of office locations that are capable of servicing the loan in the country. As another example, response  190  may indicate whether particular types of loans, such as same-day funding and/or a swing-line loan, are allowed in the country. As yet another example, response  190  may indicate whether a cross-border license, such as an EEA passport, is required to service a loan to the country. 
         [0029]    Response  190  may also indicate general requirements and disclosures associated with the loan. For example, response  190  may indicate a booking requirement, a documentation requirement, and an execution requirement associated with the loan. As another example, response  190  may indicate disclosure obligations associated with servicing the loan in the country. By following these requirements and obligations, a loan provider may be confident that the terms of the loan are enforceable in the country. 
         [0030]    Response  190  may also indicate certain business requirements. For example, response  190  may indicate particular restrictions or requirements associated with soliciting business in the country. As another example, response  190  may indicate restrictions and requirements associated with providing business advice in the country. In particular embodiments, response  190  may also indicate employees who are capable of assisting and servicing the loan in the country. For example, response  190  may indicate the employees who are fluent in the language of the country. 
         [0031]    In operation, system  100  may assist service providers in efficiently providing services to foreign countries. In particular embodiments, the service provider may be a loan provider who has been requested by a company based in country A to service a loan in country B. User  112 , who may be a representative of the loan provider, may use device  114  to communicate with server  110  in order to determine how best to service the requested loan. 
         [0032]    User  112  may designate country B as the destination country and the currency of country B as the desired currency on device  114 . Device  114  may then communicate a request  180  to server  110 . The request  180  may indicate that a loan to country B has been requested by a company based in country A and that the loan should be in the currency of country B. 
         [0033]    Server  110  may use information gathered and stored from databases  150  to respond to request  180 . The information may include regulations  170  associated with various countries. Server  110  may retrieve the regulations  170  associated with country B in order to determine the best way of servicing a loan to country B. For example, server  110  may determine which office locations of the loan provider are allowed to service a loan to country B. As another example, server  110  may determine the tax withholdings on the loan required by the tax regulations of country B. When responding to request  180 , server  110  may indicate which office locations are allowed to service the loan and how much tax to withhold. 
         [0034]    As another example, regulations  170  may indicate whether particular types of loans are allowed in country B such as same-day funding and swing-line loans. Regulations  170  may also indicate whether a cross-border license, such as an EEA passport, is required to service a loan in country B. Lastly, regulations  170  may indicate various requirements and obligations associated with servicing a loan in country B. For example, regulations  170  may indicate booking requirements, documentation requirements, execution requirements, and disclosure obligations associated with servicing a loan in country B. When responding to request  180 , server  110  may indicate these requirements and obligations. 
         [0035]    Server  110  may also gather and store the preferences of the company requesting the loan. For example, server  110  may gather and store the preferred location through which loans are to be serviced. If the company prefers that loans be serviced in country A rather than country B, then server  110  will store the preference that loans of the company should be serviced in country A. When responding to request  180 , server  110  may rank office locations in country A above those in country B. 
         [0036]    Server  110  may further store business regulations of country B. For example, server  110  may store restrictions and requirements associated with soliciting business in country B. As another example, server  110  may store restrictions and requirements associated with providing business advice in country B. When responding to request  180 , server  110  may indicate these business restrictions and requirements, so that user  112  complies with the laws of country B in the course of doing business. 
         [0037]    Server  110  may further gather and store employee information. For example, server  110  may gather and store information about the employees of the loan provider, such as their names, home office locations, and language proficiencies. Server  110  may then use this information to determine which employees are best suited to service the loan to country B. 
         [0038]    Server  110  may use the stored information to form a response  190  in response to request  180 . Server  110  may communicate response  190  to device  114 . Response  190  may include information associated with servicing a loan to country B for the company based in country A. For example, response  190  may indicate whether the loan provider is allowed to service the loan according to the currency of country B. As another example, response  190  may indicate the tax withholding on the loan in order to comply with the tax regulations of country B. 
         [0039]    Response  190  may also indicate whether particular types of loans are available, such as same-day funding and swing-line loans. Furthermore, response  190  may indicate whether a cross-border license, such as an EEA passport, is required to service the loan. Moreover, response  190  may indicate the booking requirements, documentation requirements, execution requirements, and disclosure obligations associated with servicing the loan. 
         [0040]    Device  114  may receive response  190  and present the information to user  112 . Then, based on this information, user  112  may determine how best to service the loan for the company to country B. In this manner, the loan provider may efficiently service a loan to country B even though the representative of the loan provider is not familiar with the intricacies and nuances of the regulations of country B. As a result, server network traffic may be reduced because user  112  would not have to query each database  150  in order to determine how best to service the loan. 
         [0041]    A component of system  100  may include an interface, logic, memory, and/or other suitable element. An interface receives input, sends output, processes the input and/or output, and/or performs other suitable operations. An interface may comprise hardware and/or software. Logic performs the operations of the component. For example, logic executes instructions to generate output from input. Logic may include hardware, software, and/or other logic. Logic may be encoded in one or more non-transitory, tangible media, such as a computer readable storage medium or any other suitable tangible medium, and may perform operations when executed by a computer. Certain logic, such as a processor, may manage the operation of a component. Examples of a processor include one or more computers, one or more microprocessors, one or more applications, and/or other logic. 
         [0042]    Modifications, additions, or omissions may be made to system  100  without departing from the scope of the invention. For example, server  110  may retrieve information from databases  150  for a request  180  after receiving request  180 . As another example, response  190  may include empty or null fields associated with missing information. Furthermore, the components of system  10  may be integrated or separated. For example, voice-based management system  108  may be incorporated into on-line account management system  106 . 
         [0043]      FIGS. 2 and 3  further illustrate the operation of system  100 .  FIG. 2  provides more detail as to the operation of server  110 .  FIG. 3  illustrates a method implemented by server  110 . 
         [0044]      FIG. 2  illustrates a server  110  of the system  100  of  FIG. 1 . As provided by  FIG. 2 , server  110  may gather and store regulations  170 . Server  110  may further receive a request  180 . Server  110  may then use regulations  170  in order to form a response  190  to request  180 . Server  110  may then communicate response  190 . 
         [0045]    Regulations  170  may be gathered and stored from databases  150 . In the illustrated example of  FIG. 2 , regulations  170  include the regulations of various countries such as Brazil, China, Mexico, and Canada. These regulations  170  may be the loan regulations of these countries. 
         [0046]    Request  180  may indicate aspects of the requested service. In the example of servicing the loan, request  180  may include information such as the name of the client requesting the loan, the destination country of the loan, and the loan type. Request  180  may also indicate a currency associated with the loan. For example, the company may have requested a loan in China to be provided in U.S. dollars. As a result, request  180  would indicate a currency of U.S. dollars. In the illustrated example of  FIG. 2 , request  180  may indicate that the company has requested a loan of a particular type in order to build a new warehouse in China. 
         [0047]    After server  110  receives request  180 , server  110  may use regulations  170  to determine information pertinent to servicing the loan. In the illustrated example, server  110  may reference the regulations  170  of China to respond to request  180 . Server  110  may then use this information to form response  190 . After response  190  is formed, server  110  may communicate response  190  to device  114  in order to inform user  112  on how best to service the requested loan. 
         [0048]    Response  190  may include information associated with servicing the loan in China. For example, response  190  may include tax information, such as the amount of tax withholding on the loan required by Chinese regulations. Response  190  may further include service locations, such as office locations, of the loan provider that can provide the loan in China. As an example, response  190  may indicate that a loan office in New York and a loan office in Hong Kong can service the loan in China. 
         [0049]    Response  190  may further indicate servicing types that are available for the loan. As an example, response  190  may indicate that same-day funding and/or swingline loans are available for the loan to China. Response  190  may also indicate whether a cross-border license, such as an EEA passport, is required to service the loan in China. 
         [0050]    Response  190  may also indicate various requirements, restrictions, and disclosures associated with servicing the loan in China. For example, response  190  may indicate the booking requirements, documentation requirements, execution requirements, and disclosure obligations as required by Chinese regulations. For example, Chinese regulations may require that the loan agreement be written and executed by two witnessing parties and that the terms of the loan be disclosed to a government agency in order for the loan to be valid. 
         [0051]    In particular embodiments, response  190  may further indicate a ranking or prioritization of office locations that are suited to service the loan. For example, if an office location in New York and an office location in Hong Kong are both suited to service the loan in China, response  190  may indicate that the office location in New York is preferred over the office location in Hong Kong. Server  110  may have determined the rankings and/or prioritizations based on stored client preferences. For example, server  110  may have stored information indicating that the company prefers loans to be serviced in the United States rather than China. 
         [0052]    In particular embodiments, response  190  may further indicate employees of the loan provider who are best suited for servicing the loan in China. As an example, if the company chooses to service the loan out of the Hong Kong office, response  190  may indicate the names of employees who are fluent in Chinese. In this manner, response  190  would indicate the employees of the loan provider who are best suited for servicing the loan to China. Server  110  may determine these employees based on stored employee information gathered from an employee database. 
         [0053]    Response  190  may also indicate general business requirements as indicated by the Chinese regulations. For example, response  190  may indicate whether the desired office location is allowed to solicit business in China. Furthermore, response  190  may indicate whether the office location is allowed to provide business advice in China. 
         [0054]    Server  110  may communicate response  190  to a device  114  so that user  112  may view the determined information. By using this information, user  112  may determine how best to service the company&#39;s loan in China. 
         [0055]      FIG. 3  is a flowchart illustrating a method  300  implemented by server  110  of  FIG. 1 . Server  110  may begin in step  305  by retrieving regulations of a plurality of countries. These regulations may be stored so that server  110  may use them to respond to requests from a user. In particular embodiments, these regulations may be the loan regulations and tax regulations of these countries. These regulations may also include business regulations. In some embodiments, server  110  may also retrieve and store client preferences. 
         [0056]    In step  310 , server  110  may receive a request for a loan in a designated country. The request may specify the client, the loan amount, the loan type, and the loan currency. Based on the request, server  110  may determine which regulations to reference. For example, server  110  may reference Chinese regulations if the request indicates that a company in the United States is requesting a loan to China. 
         [0057]    In step  315 , server  110  may determine whether the regulations of the designated country are in the retrieved regulations. If not, server  110  may retrieve the regulations of the designated country from databases  150  in step  320  and continue to step  325 . If the regulations were in the retrieved regulations, server  110  may continue to step  325 . Using the previous example, if the Chinese regulations are not stored in server  110  when it receives the request, server  110  will retrieve and store the Chinese regulations. Otherwise, server  110  will use the stored Chinese regulations to respond to the request. 
         [0058]    In steps  325  through  340 , server  110  may determine various aspects of a response to the request based on the stored regulations. In step  325 , server  110  may determine a service location for the loan. Server  110  may then determine the tax withholding for the loan in step  330 . In step  335 , server  110  may determine whether a license is required for the loan. For example, server  110  may determine whether an EEA passport is required to service the loan. Server  110  may then continue to step  340  to determine requirements and restrictions for the loan. As an example, server  110  may determine booking requirements, documentation requirements, execution requirements, and disclosure obligations associated with the loan. 
         [0059]    Server  110  may conclude in step  345  by communicating a response using the determined information. The communicated response may be used by a user to determine how best to service the loan in the designated country. In this manner, the user may be confident that the loan provider has complied with the laws and regulations of China without having to call various experts on Chinese regulations and having to perform multiple data pulls from various databases. 
         [0060]    Although the present disclosure includes several embodiments, a myriad of changes, variations, alterations, transformations, and modifications may be suggested to one skilled in the art, and it is intended that the present disclosure encompass such changes, variations, alterations, transformations, and modifications as fall within the scope of the appended claims.