The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Aug. 24, 2021
Filed:
May. 08, 2019
Toast, Inc., Boston, MA (US);
Alan Z. Zhao, Cambridge, MA (US);
Kevin A. Vo, Boston, MA (US);
Jared J. Rand, West Roxbury, MA (US);
Toast, Inc., Boston, MA (US);
Abstract
A system for automated origination of capital includes a rate processor, a revenue forecaster, and an offer processor. The rate processor is configured to generate prices for capital product offers to subscribers of a point-of-sale (POS) subscription service, where the prices are generated by employing probability of default (PD) values that are derived from historical POS data corresponding to each of the subscribers, and where each historical POS datum comprises an indicator denoting a season of the year in which the datum was generated. The revenue forecaster employs the historical POS data to predict future POS data for establishments corresponding to the each of the subscribers and employs the future POS data to generate predicted total revenues corresponding to the each of the subscribers over a payback period. The offer processor generates and transmits the capital product offers corresponding to the each of the subscribers, where the capital product offers comprise the payback period, the prices, and maximum dollar amounts that are a percentage of the predicted total revenues.