San Mateo, Calif.-based Dorado Corp., which provides cloud-computing-based consumer lending technology, has been granted a notice of allowance by the U.S. Patent and Trademark Office for ‘Dynamic Workflow Architectures for Loan Processing,’ a method for processing a loan application.
‘This second of two patents received by Dorado in the past year provides us with a significant competitive advantage as we extend our software-as-a-service applications deeper into the mortgage-handling process, and as we build on the extensibility of the platform-as-a-service foundation that is the basis of all our products,’ comments Dain Ehring, Dorado's CEO.Â
The Dorado patent covers the company's proprietary technology for managing a consumer lending process in which the sequences of actions are not always known in advance. An important aspect of dynamic workflow, Dorado says, is that there is no over-arching rigid sequence or "flow" that defines the process. Rather, the subset of activities displayed at any given moment is governed by the states of all known activities.
SOURCE: Dorado Corp.