FORM-2
THE PATENTS ACT, 1970
(39 OF 1970)
&
The Patents Rules, 2003
COMPLETE SPECIFICATION
[See section 10 and rule 13]
"SYSTEM AND METHOD FOR PROCESSING CREDIT DATA QUERIES"
INTELENET GLOBAL SERVICES PVT. LTD., an Indian company, of Intelenet Towers, 1406-A/28, Mindspace, Malad (West), Mumbai - 400 064;
The following specification particularly describes the invention and the manner in which it is to be performed.

Field of the Invention:
The present invention generally relates to a data processing system, and, more particularly, to a system and method for processing queries related to credit data.
Background of the Invention:
In India, presently the industrialization is increasing at rapid pace and economy is expanding. This positive change has lead to increased income and improved lifestyle of common citizen. As the demand has risen many folds, high quality product and services are now available to common citizen. This trend of liquidity of cash in market has lead to increase in demand of credit. Thereby increasing business of credit providing financial institutions multiple folds. However, this increased volume of business also include increased non-performing assets. Therefore, before lending credit to a customer, the credit providing financial institutions wish to know credit history of the customer. Credit history mentioned herein include previous credits taken by the customer and their repayment status. Such credit history helps such credit providing institutions (Financial and Non financial) in decision making for lending credit. In advanced economies credit data is also used as a pre-employment check by prospective employers and by government agencies before issuing licenses (such as for collection activity), embassies before issuing visa etc.
In order to consolidate credit data, credit bureau is formed which centrally stores the credit data of plurality of individuals and legal entities. The credit data stored at credit bureau is provided by member institutions.
Presently, credit data for an individual or a legal entity is provided to a member institution or to an individual upon request and payment of requisite fee at the credit bureau. The requesting individual or institution has to file the request physically or via post at the credit bureau and the credit report is sent to the requesting individual and some times also to the institution by post. Filing such request in person or via post at the credit bureau is time consuming and not economical. Further, presently credit score of an individual is not

provided to himself. Credit data score is only provided to requesting member financial institutions. Furthermore, presently there is no electronic system for tracking the status of already filed request for credit data report. Moreover, presently there is no electronic system for dispute resolution.
Accordingly, there persists a need for a system and method for processing credit data queries that enables credit providing financial institutions and individuals to submit their request for credit data report through multiple means such as over phone, internet or in person. Further, there is a need for a system and method for processing credit data queries that enable a requesting financial institution or an individual to check the status of already filed request for credit data report. Furthermore, there is a need for a system and method for credit data queries that enable individuals or financial institutions to file requests for disputes in credit report and also provide a dispute resolution system.
Therefore, it is an object of the present invention to obviate the above mentioned and other disadvantages from the existing art and to provide a system and method for processing credit data queries that enable the individuals and the financial institutions to submit their request for credit data report through multiple electronic means irrespective of their geographical location.
It is further an object of the present invention to provide a system and method for processing credit data queries that enable the individuals and the financial institutions to check the status of their already filed request electronically.
It is yet another object of the present invention to provide a system and method for processing credit data queries that enable the individuals and financial institutions to file request for dispute resolution electronically.
It is yet another object of the present invention to provide a system and method for processing credit data queries that enable the individuals and financial institutions to check the status of their request for dispute resolution electronically.

It is yet another object of the present invention to provide a system and method for processing credit data queries that is capable of dispute resolution in credit reports by coordinating with participating institutions.
It is yet another object of the present invention to provide a system and method for processing credit data queries that is capable of notifying all credit institutions who have made a lending decision based on an earlier possibly inaccurate (disputed) information once the dispute resolution is completed.
It is yet another object of the present invention to provide a system and method for processing credit data queries that is capable of notifying the member institutions and the bureau on the regulatory non compliance where a dispute may have been raised by an individual and the regulation stipulates response and resolution within specified timelines.
It is yet another object of the present invention to provide a system and method for processing credit data queries that is capable of authenticating the individual based on his credit data who has provided the credit report request without having to specifically register.
It is yet another object of the present invention to provide a system and method for processing credit data queries that is capable of accepting remarks from individual and credit bureaus to remove any disadvantage to an individual due to member institutions not responding within stipulated time to the dispute request.
Summary of the Invention
The present invention relates to a method that is implemented in a computing device
for processing credit data request of plurality of users, using central credit server. The
method comprises receiving a credit data request from each of the plurality of users by
plurality of means, providing the each of the plurality of users a request reference by
the computing server, processing the credit data request by the computing server using database, central credit server and credit bureau database, providing the each user of the plurality of users information requested in the credit data request.

As per an embodiment of the present invention, the method step of processing the credit data request comprises a step of receiving payment from the each of the plurality of the users.
In another embodiment of the present invention, the plurality of users comprises financial institutions and individuals.
In yet another embodiment of the present invention, the credit data request is for requesting credit score of an individual.
In yet another embodiment of the present invention, the credit data request is for requesting a dispute resolution.
In yet another embodiment of the present invention, the credit data request for dispute resolution comprises notifying corrected credit data to the financial institutions that have made a lending decision based on uncorrected data.
In yet another embodiment of the present invention, processing the credit data request relating to dispute resolution comprises notifying financial institutions and central credit bureau of regulatory non compliance when a credit data request for dispute resolution has not been resolved in specified timeline.
In yet another embodiment of the present invention, the credit data request is for requesting a status of already provided request.
In yet another embodiment of the present invention, the credit data request is for informing the server for any disadvantage.
In yet another embodiment of the present invention, the plurality of means comprises internet.

In yet another embodiment of the present invention, the plurality of means comprises a telephone.
In yet another embodiment of the present invention, the plurality of means comprises a contact centre.
In yet another embodiment of the present invention, the method step of processing the credit data request comprises communicating with the database, credit bureau server and credit bureau database.
In an embodiment of the present invention, a computing system is provided for processing
credit data request of plurality of users using central credit server. The system comprises
plurality of means for receiving credit data request from plurality of users, a server coupled to
the plurality of means to receive the credit data request, a database coupled to the server
for sharing data, the data a central credit server coupled to the server for sharing credit
information, the central credit server manages credit related information of plurality of users,
a credit bureau database coupled to the central credit server for sharing data, thecredit
bureau database stores credit related information of plurality of users and output means for providing users information against the credit data request, wherein the server is adapted to process the credit data request by communicating with the database and central credit bureau.
In yet another embodiment of the present invention, the credit data request comprises name of an individual and permanent account number of the and individual.
In yet another embodiment of the present invention, the server is coupled to an electronic payment gateway to receive payment from the plurality of users.
In yet another embodiment of the present invention, the plurality of users comprises financial institutions and individuals.
In yet another embodiment of the present invention, the credit data request is for requesting credit score of an individual.

In yet another embodiment of the present invention, the credit data request is for requesting a dispute resolution.
In yet another embodiment of the present invention, the credit data request is for requesting status of already provided request.
In yet another embodiment of the present invention, the plurality of means comprises internet.
In yet another embodiment of the present invention, the server provides a reference number to the user in respect of the credit data request provided by the user.
In yet another embodiment of the present invention, the output means comprises a electronic report delivery.
In yet another embodiment of the present invention, the server is coupled to a contact centre that receives a credit data request from plurality of users and provide the same to the server.
Description of the Drawing:
The advantages and features of the present invention will become better understood with reference to the detailed description taken in conjunction with the accompanying drawing, wherein like elements are identified with like symbols, and in which:
FIG. 1 illustrates a system for processing credit data queries, in accordance with an embodiment of the present invention.
Detailed Description of the Invention:
For a thorough understanding of the present invention, reference is to be made to the following detailed description, including the appended claims, in connection with the above-

described drawings. Although the present invention is described in connection with exemplary embodiments, the present invention is not intended to be limited to the specific forms set forth herein. It is understood that various omissions and substitutions of equivalents are contemplated as circumstances may suggest or render expedient, but these are intended to cover the application or implementation without departing from the spirit or scope of the claims of the present invention. Also, it is to be understood that the phraseology and terminology used herein is for the purpose of description and should not be regarded as limiting.
The terms "a" and "an" herein do not denote a limitation of quantity, but rather denote the presence of at least one of the referenced item.
The present invention relates to a method that is implemented in a computing device
for processing credit data request of plurality of users, using central credit server. The
method comprises receiving a credit data request from each of the plurality of users by
plurality of means, providing the each of the plurality of users a request reference by
the computing server, processing the credit data request by the computing server using database, central credit server and credit bureau database, providing the each user of the plurality of users information requested in the credit data request.
FIG. 1 illustrates a system for processing credit data request 100 (hereinafter referred to as system 100) of plurality of users 112. The system 100 mentioned herein is a computing system. The system 100 uses central credit server 108 to process the credit data request. The system 100 comprises a server 102. The server 102 is a computer server that provides the plurality of users 112 an interface to submit one or more credit data request. The plurality of users 112 mentioned herein may include financial institutions or individuals. The credit data request mentioned herein may include request for credit score of an individual, request for dispute resolution, request for status of already submitted request, request informing of any disadvantage and the like. The server 102 comprises plurality of means for receiving credit data request from plurality of users. The said plurality of means may include internet, telephone, contact centre and the like. The server 102 may include a web portal that enables a user to submit a credit data request using internet. The server 102 may include a Interactive

Voice Response System (IVRS) that enables a user to submit a request for credit data using the said IVRS. The server 102 may be coupled to a contact centre that enables a user to contact the said centre and submit his request. The credit data request comprises name of an individual and permanent account number of the individual. The server 102 is coupled to a database 104, a payment gateway 106 and central credit server 108. The central credit server 108 is coupled to credit bureau database 110. hi an embodiment of the present invention, the server 102 comprises outputting means that may include printer, email exchange and the like. In an embodiment of the present invention, the central credit server 108 is coupled to plurality of financial institutions. In yet another embodiment of the present invention, the central credit server 108 is coupled to a plurality of financial institutions through the server 102. In yet another embodiment of the present invention, the server 102 is coupled to an administrator for administering the server 102. The payment gateway 106 is provided by a bank. The coupling mentioned herein is electronic coupling and may be carried out using a network that may include a LAN, WAN, internet and the like.
According to an embodiment of the present invention, upon receiving a credit data request from a user in respect of credit score of an individual, the server 102 stores the details provided by the user in the said request in the database 104. The server 102 then receives a fee payment from the user using the payment gateway 106. The server 102 generates a reference number for the said request and provide the same to the user. The said reference number may enable the user to check the status of his already submitted request. The server 102 upon providing the reference number to the user communicates with the central credit server 108 along with the details provided by the user and requesting for the credit score of the user. The central credit server 108 then communicates to the central bureau database 110 and retrieve the credit score of the user. The said credit score is then provided to the server 102. The server 102 provides the said credit score to the requesting user. The server 102 may provide the credit score to the requesting user in the form of a report. The said report may be provided to the user by email, facsimile, post and the like.
According to another embodiment of the present invention, the server 102 receives a credit data request for dispute resolution. The said request is accompanied by details of the user and information pertaining to dispute. The said details may include name of the individual and

permanent account number of the individual. The information may include information relating to the incorrect credit data. The server 102 upon receiving such request stores the information and details in the database 104 and generates a reference number in respect of the credit data request. The said reference number is provided to the user for inquiring status of the said request. The server 102 communicates with the central credit server 108 for verifying the concerned data as provided by the user in his credit data request. The central credit server 108 then verify the said information in the central bureau database 110. If the central credit server 108 finds a discrepancy in the said data, the central credit server 108 informs the member financial institutions that provide credit data to the central credit server 108 regularly regarding the said discrepancy and ask them to provide the correct data. In an embodiment of the present invention, the said activity of informing member financial institutions and requesting them to provide correct data is carried out by the server 102. Upon receiving the correct information, the server 102 generates a report for the said correction. The said report is then provided to the requesting user. The server 102 also performs a function of time keeping to assure in time solution of dispute resolution credit data request and timely delivery of report. In case the stipulated time to resolve the dispute resolution credit data request exceeds, the server 102 notify financial institutions and the central credit bureau of regulatory non compliance when a credit data request for dispute resolution has not been resolved. In an exemplary embodiment of the present invention, a regular update of user credit data request is provided to the user. Further, the server 102 informs the corrected credit data to the financial institutions that have made a lending decision based on uncorrected data.
In yet an embodiment of the present invention, the database 104 is updated by plurality of authorized departments. The plurality of departments may include dispatch department. As an added benefit to the credit bureau finance team and exemplary embodiment of the present invention the requests received from the individual are reconciled against actual funds received through the payment gateway 106 and credit report/data provided to the user 112.
In an embodiment of the present invention, the user 112 may check the status of the already filed request for dispute resolution. In an embodiment of the present invention, the user 112 may check the status of already filed request for dispute resolution through internet

using a website. In yet another embodiment of the present invention, the user 112 may check the status of already filed request for dispute resolution at a contact center (not shown). The user 112 may submit the required details such as service request number to the server 102. The server 102 upon receiving such request check the status of the already filed request from the database 104. Upon receiving the status from the database 104, the server 102 provides the status of the request to the user 112. The database 104 is updated by plurality of authorized departments. The plurality of departments may include dispatch department.
In an exemplary embodiment of the present invention, the user 112 may submit the request for credit information report and / or dispute resolution request through email.
In yet another embodiment of the present invention, the user 112 may submit the request for credit information report and / or dispute resolution request through facsimile.
In yet another embodiment of the present invention, the server 102 may require user 112 to register prior to submitting his credit data request. The user 112 may register at the server 102 by providing his personal details and credit relating details that may include permanent account number and the like.
Accordingly, the system 100 is adapted to process credit data queries such as request for credit information report and / or request for dispute resolution in a user friendly, efficient, reliable and economical manner. The system 100 may be advantageously used by individuals or plurality of credit providing institutions.
The above-described presently preferred embodiments can be modified into many alternative preferred embodiments. It is to be noted that the server 102 and the system incorporating the same is not limited to the exemplary configuration described herein, but, the server 1.02 and the system incorporating the same may include a multitude of configurational arrangements.
The foregoing descriptions of specific embodiments of the present invention have been presented for the purposes of illustration and description. They are not intended to be

exhaustive or to limit the present invention to precise forms disclosed, and obviously many modifications and variations are possible in light of the above teaching. The exemplary embodiment was chosen and described in order to best explain the principles of the present invention and its practical application, to thereby enable others skilled in the art to best utilize the present invention and various embodiments with various modifications as are suited to the particular use contemplated.

We claim:
1. A method implemented in a computing device for processing credit data request of
plurality of users, using central credit serve, the method comprising:
receiving a credit data request front each of the plurality of users by plurality of means,
providing the each of the plurality of users a request reference by the computing server;
processing the credit data request by the computing server using database, central credit server and credit bureau database;
providing the each user of the plurality of users information requested in the
credit data request.
2. The method as claimed in claim 1, wherein the method step of processing the credit data request comprises a step of receiving payment from the each of the plurality of the users.
3. The method as claimed in claim 1, wherein the plurality of users comprises financial institutions and individuals.
4. The method as claimed in claim 1, wherein the credit data request is for requesting credit score of an individual.
5. The method as claimed in claim 1, therein the credit data request is for requesting a dispute resolution.
6. The method as claimed in claim 5, wherein the credit data request for dispute resolution comprises notifying corrected credit data to the financial institutions that have made a lending decision based on uncorrected data.
7. The method as claimed in claims 1 and 5, wherein processing the credit data request relating to dispute resolution comprises notifying financial institutions and central credit bureau of regulatory non compliance when a credit data request for dispute resolution has not been resolved in specified timeline

8. The method as claimed in claim 1, wherein the credit data request is for requesting a status of already provided request.
9. The method as claimed in claim 1, wherein the credit data request is for informing the server for any disadvantage.
10. The method as claimed in claim 1, wherein the plurality of means comprises internet.
11. The method as claimed in claim 1, wherein the plurality of means comprises a telephone.
12. The method as claimed in claim 1, wherein the plurality of means comprises a contact centre.
13. The method as claimed in claim 1, wherein the method step of processing the credit data request comprises communicating with the database, credit bureau server and credit bureau database.
14. A computing system for processing credit data request of plurality of users using central credit server, the system comprising;
Plurality of means for receiving credit data request from plurality of users;
a server coupled to the plurality of means to receive the credit data request;
a database coupled to the server for sharing data;
a central credit server coupled to the server for sharing credit information; the central credit
server manages credit related information of plurality of users;
a credit bureau database coupled to the central credit server for sharing data; the credit
bureau database stores credit related information of plurality of users; and
Output means for providing users information against the credit data request;
wherein the server is adapted to process the credit data request by communicating with the
database and central credit bureau.
15. The computing system as claimed in claim 14, wherein the credit data request

comprises name of an individual and permanent account number of the individual.
16. The computing system as claimed in claim 14, wherein the server is coupled to an electronic payment gateway to receive payment from the plurality of users.
17. The computing system as claimed in claim 14, wherein the plurality of users comprises financial institutions and individuals.
18. The computing system as claimed in claim 14, wherein the credit data request is for requesting credit score of an individual.
19. The computing system as claimed in claim 14, wherein the credit data request is for requesting a dispute resolution.
20. The computing system as claimed in claim 14, wherein the credit data request is for requesting status of already provided request.
21. The computing system as claimed in claim 14, wherein the plurality of means comprises internet.
22. The computing system as claimed in claim 14, wherein the server provides a reference number to the user in respect of the credit data request provided by the user.
23. The computing system as claimed in claim 14, wherein the output means comprises a electronic report delivery.
24. The computing system as claimed in claim 14, wherein the server is coupled to a contact centre, the contact centre receives a credit data request from plurality of users and provide the credit data request to the server.