Description:TECHNICAL FIELD
[0001] The present disclosure relates to the field of loan services. More particularly the present disclosure relates to a system for facilitating a quick platform where users and banks can easily interact.

BACKGROUND
[0002] Background description includes information that may be useful in understanding the present invention. It is not an admission that any of the information provided herein is prior art or relevant to the presently claimed invention, or that any publication specifically or implicitly referenced is prior art.
[0003] Usually, rural users such as farmers have less exposure to digital finance and there are very few financial products that are being digitally given to such users. Sourcing for such users is mostly done offline. Most of the banks, especially the public sector banks (PSBs) follow a business correspondent (BC) model. Wherein the business correspondent (BC) works on a commission basis collecting customers’ preliminary data and documents by physically visiting their places. Once the user is sourced, the file/application is processed at branch level, it is processed under the traditional methods of underwriting and manual process by the credit officer/manager and is dependent on the time taken by the individual/branch process. This often takes longer than required for the decision making.
[0004] There is, therefore, a need of a system and method that can facilitate a speedy interaction between the banks and such users.

OBJECTS OF THE PRESENT DISCLOSURE
[0005] Some of the objects of the present disclosure, which at least one embodiment herein satisfies are as listed herein below.
[0006] It is an object of the present disclosure to provide a system and method for facilitating a quick and easy interaction between users and banks.
[0007] It is an object of the present disclosure to provide a system and method for facilitating a quick and easy interaction between users and banks, which is efficient.
[0008] It is an object of the present disclosure to provide a system and method for facilitating a quick and easy interaction between users and banks, which is less time consuming.
[0009] It is an object of the present disclosure to provide a system and method for facilitating a quick and easy interaction between users and banks, which is easy to use.
[0010] It is an object of the present disclosure to provide a system and method for sanctioning agriculture loans to the user, based on soil data information.
[0011] It is an object of the present disclosure to provide a system and method for sanctioning agriculture loans to the user, based on satellite data information.
[0012] It is an object of the present disclosure to provide a system and method for sanctioning agriculture loans to the user, which uses multilingual input.
[0013] It is an object of the present disclosure to provide a system and method for sanctioning agriculture loans to the user, which provides multilingual output.

SUMMARY
[0014] The present disclosure relates to the field of loan services. More particularly the present disclosure relates to a system for facilitating a quick platform where users and banks can easily interact.
[0015] An aspect of the present disclosure pertains to a system for facilitating interaction between a user and a first institution. The system includes a processing unit, having processor configured to execute a set of instructions stored in a memory, which, on execution, causes the system to receive, from the user, a request for availing a loan from the first institution. The request comprises a know your customer information of the user; validate, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user. Approve, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
[0016] In an aspect, the first institution may comprise of a bank.
[0017] In an aspect, the second institution may comprise any or combination of a public and private institutions such as non-banking finance companies (NBFCs), general insurance companies, micro finance institutions (MFIs). Add Agriculture Office, Krishi Vigyan Kendra, and agribusinesses.
[0018] In an aspect, the credibility score may be generated based on any or combination of user’s assets, and previous load history.
[0019] In an aspect, the second institution may access the credibility score generated using unique identification assigned to the second institution.
[0020] A method for facilitating interaction between a user and a first institution. The method includes receiving, from the user, a request for availing a loan from the institution. The request includes a know your customer information of the user. Validating, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user. Approving, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
[0021] Various objects, features, aspects and advantages of the inventive subject matter will become more apparent from the following detailed description of preferred embodiments, along with the accompanying drawing figures in which like numerals represent like components.

BRIEF DESCRIPTION OF DRAWINGS
[0022] The accompanying drawings are included to provide a further understanding of the present disclosure, and are incorporated in and constitute a part of this specification. The drawings illustrate exemplary embodiments of the present disclosure and, together with the description, serve to explain the principles of the present disclosure. The diagrams are for illustration only, which thus is not a limitation of the present disclosure.
[0023] In the figures, similar components and/or features may have the same reference label. Further, various components of the same type may be distinguished by following the reference label with a second label that distinguishes among the similar components. If only the first reference label is used in the specification, the description is applicable to any one of the similar components having the same first reference label irrespective of the second reference label.
[0024] FIG. 1 illustrates exemplary network architecture in which or with which proposed system for facilitating interaction between a user and a first institution, in accordance with an embodiment of the present disclosure.
[0025] FIG. 2 illustrates an exemplary module representation for proposed system, in accordance with an embodiment of the present disclosure.
[0026] FIG. 3 illustrates a proposed method for facilitating interaction between a user and a first institution, in accordance with an embodiment of the present disclosure.
[0027] FIG. 4 illustrates an exemplary computer system in which or with which embodiments of the present invention can be utilized, in accordance with embodiments of the present disclosure.

DETAILED DESCRIPTION
[0028] The following is a detailed description of embodiments of the disclosure depicted in the accompanying drawings. The embodiments are in such detail as to clearly communicate the disclosure. However, the amount of detail offered is not intended to limit the anticipated variations of embodiments; on the contrary, the intention is to cover all modifications, equivalents, and alternatives falling within the scope of the present disclosure as defined by the appended claims.
[0029] In the following description, numerous specific details are set forth in order to provide a thorough understanding of embodiments of the present invention. It will be apparent to one skilled in the art that embodiments of the present invention may be practiced without some of these specific details.
[0030] The present disclosure relates to the field of loan services. More particularly the present disclosure relates to a system for facilitating a quick platform where users and banks can easily interact.
[0031] The present disclosure elaborates upon a system for facilitating interaction between a user and a first institution. The system includes a processing unit, having processor configured to execute a set of instructions stored in a memory, which, on execution, causes the system to receive, from the user, a request for availing a loan from the first institution. The request comprises a know your customer information of the user; validate, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user. Approve, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
[0032] In an embodiment, the first institution can comprise of a bank.
[0033] In an embodiment, the second institution can comprise any or combination of a public institution, and a private institution.
[0034] In an embodiment, the credibility score can be generated based on any or combination of user’s assets, and previous load history.
[0035] In an embodiment, the second institution can access the credibility score generated using unique identification assigned to the second institution.
[0036] A method for facilitating interaction between a user and a first institution. The method includes receiving, from the user, a request for availing a loan from the institution. The request includes a know your customer information of the user. Validating, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user. Approving, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
[0037] FIG. 1 illustrates exemplary network architecture in which or with which proposed system for facilitating interaction between a user and a first institution, in accordance with an embodiment of the present disclosure.
[0038] As illustrated, in a network implementation 100, a system 102 for sanctioning one or more services to a user can be communicatively coupled with a plurality of client node devices 108-1, 108-2…108-N (collectively referred to as client node devices 108 and individually referred to as client node device 108 hereinafter) through network 104. The system 102 can be implemented using any or a combination of hardware components and software components such as a server 106, a computing system, a computing device, a security device and the like.
[0039] Further, the system 102 can interact with entities or users 110-1, 110-2…110-N (collectively referred to as entities 110, and individually referred to as entity or user 110 herein after), through the client devices 108 (also referred as client node devices, 108) or through applications residing on the client devices 108. In an implementation, the system 102 can be accessed by applications residing on any operating system, including but not limited to, AndroidTM, iOSTM, and the like. In a preferred embodiment, the client node devices 106 are associated with respective users 108.
[0040] In an embodiment, the system 102 and the user 110 can be communicatively coupled with a first institution 112 through network 104. Further, the system 102 can be operatively configured with one or more second institutions 114-1, 114-2…114-N (collectively referred to as second institutions 114, and individually referred to as second institution 114 herein after), In an implementation, the system 102 can be accessed by applications residing on any operating system, including but not limited to, AndroidTM, iOSTM, and the like. In a preferred embodiment, the second client devices 112 are associated with respective second entities 108.
[0041] As illustrated, the system can be configured to receive, from the user 110, a request for availing a loan from the first institution 112. The user can be but not limiting to a farmer and the first institution can be but not limited to a bank. The request can include a know your customer (KYC) information of the user. The KYC information can include but not limited to name, address, pan number, biometrics, adhaar number, bank details etc of the user 110. The system 102 can validate the know your customer KYC information of the user 110 from the one or more second institutions that can be any of a public institution and a private institution. The validation process can include sending a OTP to a registered mobile number associated with the any of the pan number or adhaar number.
[0042] In an embodiment, the system can generate a credibility score, based on the validation, for the user 110. The first institution 112 can approve the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value. The credibility score can be generated based on user’s assets, and previous load history if any. The second institution 114 can access the credibility score generated using unique identification assigned to the second institution.
[0043] FIG. 2 illustrates an exemplary module representation for proposed system, in accordance with an embodiment of the present disclosure.
[0044] As illustrated, a module diagram 200 of the system 102 may comprise one or more processor(s) 202. The one or more processor(s) 202 may be implemented as one or more microprocessors, microcomputers, microcontrollers, digital signal processors, central processing units, logic circuitries, and/or any devices that manipulate data based on operational instructions. Among other capabilities, the one or more processor(s) 202 are configured to fetch and execute computer-readable instructions stored in a memory 206 of the system 102. The memory 204 may store one or more computer-readable instructions or routines, which may be fetched and executed to create or share the data units over a network service. The memory 204 may comprise any non-transitory storage device including, for example, volatile memory such as RAM, or non-volatile memory such as EPROM, flash memory, and the like.
[0045] The system 102 may also comprise an interface(s) 206. The interface(s) 206 may comprise a variety of interfaces, for example, interfaces for data input and output devices, referred to as I/O devices, storage devices, and the like. The interface(s) 206 may facilitate communication of system 102. The interface(s) 206 may also provide a communication pathway for one or more components of the system 102. Examples of such components include, but are not limited to, processing engine(s) 208 and data 210. For example,
[0046] The processing engine(s) 208 may be implemented as a combination of hardware and programming (for example, programmable instructions) to implement one or more functionalities of the processing engine(s) 208. In examples described herein, such combinations of hardware and programming may be implemented in several different ways. For example, the programming for the processing engine(s) 208 may be processor executable instructions stored on a non-transitory machine-readable storage medium and the hardware for the processing engine(s) 208 may comprise a processing resource (for example, one or more processors), to execute such instructions. In the present examples, the machine-readable storage medium may store instructions that, when executed by the processing resource, implement the processing engine(s) 208. In such examples, the system 102 may comprise the machine-readable storage medium storing the instructions and the processing resource to execute the instructions, or the machine-readable storage medium may be separate but accessible to system 102 and the processing resource. In other examples, the processing engine(s) 208 may be implemented by electronic circuitry.
[0047] The data 210 may comprise data that is either stored or generated as a result of functionalities implemented by any of the components of the processing engine(s) 208 or the system 102.With reference to FIGs. 1 and 2, the system 102 can include a receiving module 212 that can be configured to receive the request pertaining to a loan from the first institute 112.
[0048] In an embodiment, the system can include a validation module 214 that can be operatively configured with the receiving module 212. The validation module 214 can be configured to validate the KYC information submitted by the user 110.
[0049] In an embodiment, the system 102 can include a credibility assessment module 216 that can be operatively configured with the validation module 214 and the receiving module 212, and can be configured to generate a credibility score based on validation results of the user 110.
[0050] FIG. 3 illustrates a proposed method for facilitating interaction between a user and a first institution, in accordance with an embodiment of the present disclosure.
[0051] As illustrated, in an embodiment at step 302 a method 300 for facilitating interaction between a user and a first institution can include receiving, from the user, a request for availing a loan from the institution. The request includes a know your customer information of the user.
[0052] In an embodiment, at step 304 the method 300 can include validating, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user.
[0053] In an embodiment, at step 306 the method 300 can include approving, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
[0054] FIG. 4 illustrates an exemplary computer system in which or with which embodiments of the present invention can be utilized, in accordance with embodiments of the present disclosure.
[0055] As illustrated in FIG. 4, computer system 400 can include an external storage device 410, a bus 420, a main memory 430, a read only memory 440, a mass storage device 450, communication port 460, and a processor 470. A person skilled in the art will appreciate that the computer system may include more than one processor and communication ports. Examples of processor 470 include, but are not limited to, an Intel® Itanium® or Itanium 2 processor(s), or AMD® Opteron® or Athlon MP® processor(s), Motorola® lines of processors, FortiSOC™ system on chip processors or other future processors. Processor 470 may include various modules associated with embodiments of the present invention. Communication port 460 can be any of an RS-232 port for use with a modem based dialup connection, a 10/100 Ethernet port, a Gigabit or 10 Gigabit port using copper or fiber, a serial port, a parallel port, or other existing or future ports. Communication port 460 may be chosen depending on a network, such a Local Area Network (LAN), Wide Area Network (WAN), or any network to which computer system connects.
[0056] Memory 430 can be Random Access Memory (RAM), or any other dynamic storage device commonly known in the art. Read-only memory 440 can be any static storage device(s) e.g., but not limited to, a Programmable Read Only Memory (PROM) chips for storing static information e.g., start-up or BIOS instructions for processor 470. Mass storage 450 may be any current or future mass storage solution, which can be used to store information and/or instructions. Exemplary mass storage solutions include, but are not limited to, Parallel Advanced Technology Attachment (PATA) or Serial Advanced Technology Attachment (SATA) hard disk drives or solid-state drives (internal or external, e.g., having Universal Serial Bus (USB) and/or Firewire interfaces), e.g. those available from Seagate (e.g., the Seagate Barracuda 7102 family) or Hitachi (e.g., the Hitachi Deskstar 7K1000), one or more optical discs, Redundant Array of Independent Disks (RAID) storage, e.g. an array of disks (e.g., SATA arrays), available from various vendors including Dot Hill Systems Corp., LaCie, Nexsan Technologies, Inc. and Enhance Technology, Inc.
[0057] Bus 420 communicatively couple processor(s) 470 with the other memory, storage and communication blocks. Bus 420 can be, e.g. a Peripheral Component Interconnect (PCI) / PCI Extended (PCI-X) bus, Small Computer System Interface (SCSI), USB or the like, for connecting expansion cards, drives and other subsystems as well as other buses, such a front side bus (FSB), which connects processor 470 to software system.
[0058] Optionally, operator and administrative interfaces, e.g. a display, keyboard, and a cursor control device, may also be coupled to bus 420 to support direct operator interaction with a computer system. Other operator and administrative interfaces can be provided through network connections connected through communication port 460. The external storage device 410 can be any kind of external hard-drives, floppy drives, IOMEGA® Zip Drives, Compact Disc - Read Only Memory (CD-ROM), Compact Disc-Re-Writable (CD-RW), Digital Video Disk-Read Only Memory (DVD-ROM). Components described above are meant only to exemplify various possibilities. In no way should the aforementioned exemplary computer system limit the scope of the present disclosure.
[0059] Moreover, in interpreting the specification, all terms should be interpreted in the broadest possible manner consistent with the context. In particular, the terms “comprises” and “comprising” should be interpreted as referring to elements, components, or steps in a non-exclusive manner, indicating that the referenced elements, components, or steps may be present, or utilized, or combined with other elements, components, or steps that are not expressly referenced. Where the specification claims refer to at least one of something selected from the group consisting of A, B, C ….and N, the text should be interpreted as requiring only one element from the group, not A plus N, or B plus N, etc.
[0060] While the foregoing describes various embodiments of the invention, other and further embodiments of the invention may be devised without departing from the basic scope thereof. The scope of the invention is determined by the claims that follow. The invention is not limited to the described embodiments, versions or examples, which are included to enable a person having ordinary skill in the art to make and use the invention when combined with information and knowledge available to the person having ordinary skill in the art.

ADVANTAGES OF THE INVENTION
[0061] The proposed invention provides a system and method for facilitating a quick and easy interaction between users and banks.
[0062] The proposed invention provides a system and method for facilitating a quick and easy interaction between users and banks, which is efficient.
[0063] The proposed invention provides a system and method for facilitating a quick and easy interaction between users and banks, which is less time consuming.
[0064] The proposed invention provides a system and method for facilitating a quick and easy interaction between users and banks, which is easy to use.
[0065] The proposed invention provides a system and method for sanctioning agriculture loans to the user, based on soil data information.
[0066] The proposed invention provides a system and method for sanctioning agriculture loans to the user, based on satellite data information.
[0067] The proposed invention provides a system and method for sanctioning agriculture loans to the user, which uses multilingual input.
[0068] The proposed invention provides a system and method for sanctioning agriculture loans to the user, which provides multilingual output.

Claims:1. A system for facilitating interaction between a user and a first institution, the system comprising:
a processing unit, having processor configured to execute a set of instructions stored in a memory, which, on execution, causes the system to:
receive, from the user, a request for availing a loan from the first institution, and the request comprises a know your customer information of the user;
validate, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user; and
approve, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.
2. The system as claimed in claim 1, wherein the first institution comprises of a bank.
3. The system as claimed in claim 1, wherein the second institution comprises any or combination of a public institution, and a private institution.
4. The system as claimed in claim 1, wherein the credibility score generated based on any or combination of user’s assets, and previous load history.
5. The system as claimed in claim 1, wherein the second institution accesses the credibility score generated using a unique identification assigned to the second institution.
6. A method for facilitating interaction between a user and a first institution, the method comprising:
receiving, from the user, a request for availing a loan from the institution, and the request comprises a know your customer information of the user;
validating, using a second institution, the know your customer information of the user and correspondingly generating a credibility score for the user; and
approving, by the first institution, the loan request requested by the user if the generated credibility score of the user is any of more than or equal to a pre-defined threshold value.