US 11,756,116 B1
Worker syndicate with geolocation-based funding
Andrew J. Garner, IV, State Road, NC (US); Chris Theodore Kalaboukis, San Jose, CA (US); Rameshchandra Bhaskar Ketharaju, Hyderabad (IN); Joon Maeng, Newcastle, WA (US); Ramanathan Ramanathan, Bellevue, WA (US); Abhijit Rao, Irvine, CA (US); and Andres J. Saenz, Redmond, WA (US)
Assigned to Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed by Wells Fargo Bank, N.A., San Francisco, CA (US)
Filed on Jan. 12, 2021, as Appl. No. 17/147,247.
Int. Cl. G06Q 40/03 (2023.01); G06F 16/9537 (2019.01); G06Q 10/0631 (2023.01); G06Q 20/14 (2012.01)
CPC G06Q 40/03 (2023.01) [G06F 16/9537 (2019.01); G06Q 10/06312 (2013.01); G06Q 20/14 (2013.01)] 20 Claims
OG exemplary drawing
 
1. A system for providing a loan to members of a business syndicate comprising:
a requesting member computing device associated with a requesting member;
a provider computing system comprising a network interface, a disaster funding modeler circuit, and a processing circuit, the network interface structured to facilitate data communication with the requesting member computing device via a network, the processing circuit comprising a processor and a memory, the processing circuit structured to:
receive an electronic request from the requesting member computing device, the electronic request comprising a requesting member data set related to the loan;
receive a location of the requesting member from a global positioning system receiver associated with the requesting member computing device;
receive vehicle positioning data associated with a vehicle registered to the requesting member from a database associated with a third party entity;
compare the vehicle positioning data with the received location of the requesting member to verify a geolocation of the requesting member;
utilizing the geolocation, query the disaster funding modeler circuit for a second data set and a third data set, the second data set comprising disaster and economy data for the geolocation, the third data set comprising disaster and economy data for the members of the business syndicate located outside of a predetermined distance from the geolocation;
based on the disaster and economy data, generate a requesting member local disaster data set and a requesting member local economy data set;
based on the requesting member data set, the requesting member local disaster data set, and the requesting member local economy data set, generate a requesting member risk rating;
based on the third data set, generate a member local disaster data set and a member local economy data set for each of the members of the business syndicate;
based on the member local disaster data set and the member local economy data set for each of the members of the business syndicate, select a plurality of prospective lender members;
transmit the electronic request, the requesting member local disaster data set, the requesting member local economy data set, and the requesting member risk rating to the plurality of prospective lender members;
receive an acceptance of the electronic request by an accepting member associated with one of the plurality of prospective lender members; and
facilitate a transfer of an electronic payment from a financial account associated with the accepting member to a financial account associated with the requesting member.