BACKGROUND

Credit bureaus may provide users with the ability to limit access to the user's credit data, such as though completion of forms and manually providing identification information (e.g., birth certificate, passport, etc.). User's may have the ability to request access restrictions on credit data, such as via a lock or unlock, or freeze or unfreeze. When a credit file is unlocked, for example, information in the file can be accessed by third parties that have a permissible purpose to access the user's credit data, such as under the Fair Credit Reporting Act (FCRA) in the United States.

Typically, a user provides information to a credit bureau that confirms their identity, as well as possibly a lock/unlock identifier (e.g., a number or alphanumeric code) in order to initiate locking or unlocking of their credit file. Unfortunately, this can be a tedious, slow, and inconvenient process for many reasons. For example, the process may be quite slow as it may require human review of the authentication documents. There may also need to be several layers of security features to authenticate the user, such as providing original copies of documents (e.g., birth certificates, passports, etc.), biometric sensors, passwords and pins, and/or responding to questions. The user would also have to remember such passwords and pins, and responses to the answers. The forms or process of locking or unlocking may also be long and require a lot of information from the user. The forms may also require documents that may take time and effort to obtain (e.g. bank statement, utility bill, etc.). Furthermore, the lock or unlock feature may require a fee or payment from the user each and every time a lock or unlock request is sent. Also, sending and receiving information for such a request over the phone, via mail or electronically, may subject such information to security risks (e.g. hacking) and may lead to more identity theft or fraud. The rules for a freeze and unfreeze may also differ from state to state, further complicating the process of securing user data. Thus, when moving from one state to another, the rules for locking and unlocking your credit file may be quite different.

In view of these technological shortcomings, when a user wishes to provide a third party with access to credit data that is locked, they cannot do so. Additionally, users may forget that they locked their file and when applying for credit (or otherwise wanting to allow access to credit data), would simply be prevented from accessing their credit file until the arduous and time-consuming process of unlocking the credit data is performed. Users would have to identify what happened (e.g. whether the credit file was locked/frozen or some other reason such as incorrect information submitted) and take necessary steps to release the credit file that prolong the process and may dissuade a user from continuing.

Additionally, users have no control over their credit files once a lock is performed. For example, after a lock has been placed, the user is unaware of credit inquiries (requests by third parties to access credit data) received by the credit bureaus and, thus, cannot provide access to third parties that the user wishes to grant access to. For example, although the user may have locked their credit file for other security purposes (such as identify theft), the user may need to allow access their credit file for other purposes (such as applying for a credit card). However, based on the technological shortcomings noted above, the user may decide not to pursue the credit card. Moreover, after completing the arduous process of unlocking their credit file, the user may forget or just not be dedicated enough to spend the time on the similar process of re-locking their credit file.

Users may also find it inconvenient to have to memorize a separate identifier that is provided by the credit bureau for each credit bureau that maintains a credit file for the user. Moreover, the user may forget an identifier he or she may need to request a new identifier by, for example, phone or certified mail from the credit bureau, which can result in a delay in locking their file. Additionally, when the user wishes to unlock their file they may need to wait a specified period of time, often three days, for the file to be unlocked. Besides imposing risks to a user's credit file, these delays may cause lenders, such as those looking to provide instant credit, to lose out on credit opportunities. Furthermore, users may not want to reveal their identifiers in a public area at the point of sale.

In merchant environments, such as department stores, credit file locking and unlocking can be especially problematic. For example, a store may offer a credit card, debit card, or store loyalty card, for example, to a user at a point of sale. The user may decide that applying for the store card is not worthwhile because their credit file is locked and unlocking the file will take significant time and effort (e.g., the user may be required to call each of one or more credit bureaus and provide credit bureau specific credit file unlock codes to each credit bureau, pay a fee to each of the credit bureaus, etc., and waiting significant time periods for implementation by respective credit bureaus). Alternatively, a user may apply for the store card using the credit application process, only to discover that their credit file is locked. In this situation, the user may then decide not to proceed further with the application process because of the above-noted technological shortcomings in existing credit file control systems. As a result, merchants may lose out on significant sales and credit opportunities.

SUMMARY

The systems and methods described herein allow users to control access to regulated data of the user (stored in a secured third party database) through interaction on a mobile device (or other computing device), such as to provide a touch gesture on the mobile device that causes the users regulated data to be accessible to a third party. The regulated data may include credit data of the user, such as a credit report or credit file. Access rights to the regulated data may be provided in real-time (or near real-time) in response to a request for the data from a third party, for example. The system may allow a user to respond to an alert or notification that is automatically sent to the computing device of the user in response to a request for a secure regulated data of the user.

In one embodiment, the regulated data comprises credit data that is stored by one or more credit bureaus and the access control include locking and unlocking of credit data specific to a user. In some embodiments, systems and methods described herein allow users to unlock their credit files in real-time or near real-time. Upon receiving a request to access a credit file from a requesting entity, the system may determine whether the credit file is locked, frozen, or otherwise prevented from dissemination. In response to determining that the credit file is not locked, frozen, or otherwise prevented from dissemination, the system may proceed with the release of credit data. However, if the credit file cannot be sent to the requesting entity, the system may notify the user. The system may determine notification preferences of the user and transmit an alert according to such preferences. The alert may notify the user that an inquiry to the credit file has been sent.

In some embodiments, the system may authorize an unlock, unfreeze, thaw, or lift of the credit file. U.S. Pat. No. 9,256,904, titled “Multi-bureau credit file freeze and unfreeze,” issued Feb. 9, 2016, which is hereby incorporated by reference in its entirety, describes additional details and options in allowing users to lock or unlock their credit files, such as through use of a personal identifier. The features and details included in U.S. Pat. No. 9,256,904 may be applied to various embodiments discussed herein.

In some embodiments, the system performs credit file locking and unlocking based on user, system, or group defined preferences. For example, in some embodiments, the credit file may be unlocked for a particular period of time. The credit file may also be unlocked for a purpose or for a particular requesting entity. The unlock may be toward a portion or subset of the credit file while a lock remains on the remainder of the credit file. U.S. Pat. No. 8,744,956, titled “Systems and methods for permission arbitrated transaction services,” issued Jun. 3, 2014, describes additional details and options associated with selective sharing of credit data, such as sharing for a period of time or purpose. The features and details included in U.S. Pat. No. 8,744,956 may be applied to various of the embodiments discussed herein.

Embodiments of the present disclosure may be particularly advantageous in merchant environments. For example, in point of sale environments a user may apply for a credit card (debit card, store loyalty card, or other account that requires access to credit data by the merchant). However, the credit file may be locked. In response to the merchant's inquiry for credit information, the system can automatically and in real-time generate and transmit alert data to a mobile device of the user, notifying the user of the inquiry and possibly provided a link to additional information regarding the user's credit data, the requesting merchant, or other relevant information. Then the system can allow the user to authorize an unlock of the credit file. The unlock can be customized. For example, the credit file may be unlocked for a particular purpose (e.g. applying for a credit card or more generally for a line of credit). The unlock may be for a particular duration (such as an unlock for an hour) and then may automatically re-lock thereafter. The unlock may be for a particular requesting entity (e.g. a trusted merchant identified by the user). The unlock may be directed toward a portion of the credit data. For example, a portion of the credit data that is necessary for the purpose of the inquiry may be released. A less intrusive portion of the credit file may also be released (e.g. such as credit score without total debt). By providing users with a simplified interface and an expedient mechanism for customized unlocking of their credit files, the system can increase credit opportunities for both the user and the merchant, while reducing risk of identity theft by allowing the user to easily keep their credit file locked.

Furthermore, the present disclosure is advantageous in security environments. For example, the user may apply a lock on their credit file. However, the user may want to know who is inquiring about their credit data while their account is locked. The user may be watching television at home when the user's mobile device notifies the user that a particular foreign company has tried to inquire about the user's credit data. The user may then keep the lock on their credit file and notify other third parties of the inquiry to begin an investigation. The same user can still unlock their credit files for other purposes (e.g. their trusted bank requested credit information to see if they can automatically increase the user's credit card limit).

In some embodiments, access exceptions may apply and thus credit data may nevertheless be released regardless of whether there is a lock or a freeze on the account. An access exception applies when credit data is provided regardless of whether the user's credit data is locked or frozen. For example, federal, state, and local government agencies have access to credit data in some circumstances (e.g. in support of a child support claim).

