A System And Method For Validating Transaction Data In A Voice Based Conversation

Abstract: The present invention relates to validation of data relating to credit and debt transactions through an interactive voice response system over a telecommunication network and more particularly to systems and methods for validating debt settlements amongst users using an interactive voice response system over a telecommunication network with an asynchronous system architecture. A method and system for recording and tracking a lending transaction representing a debt owed by a debtor to a creditor through an interactive voice response system over a telecommunication network further comprises the steps of triggering a request for response corresponding to a first notification to the debtor for validating the lending transaction and scheduling a plurality of notifications to the debtor based on the validation status of the lending transaction until the debtor validates the lending transaction.

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