Methods and systems for validating transactions

Abstract

Methods and systems for validating transactions in an automated, secure, regulatory-compliant manner, in which a second party is presented with a graphic user interface that displays a multimedia presentation prepared by or on behalf of a first party, which provide the second party with an explanation of each document to be executed. The system includes a device for capturing the buyer's digital signature, and a recording device for capturing the actions and responses of the second party before the second party authorizes that the digital signature be associated with each document. In addition, the methods and systems according to the invention create and maintain digital files, which are available as a back up and for support in the unlikely event that there is a dispute regarding the transaction.

What is claimed is: 
     
         1 . A system for validating a transaction between a first party and a second party, the system comprising:
 a multimedia presentation prepared by or for the first party, said multimedia presentation including at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document;   a display terminal configured to display the multimedia presentation to the second party during the transaction;   a device for capturing a signature of the second party;   a recording device configured to acquire audio and video of the second party during the transaction;   a data storage operatively associated with the recording device for storing the audio and video recording of the second party acquired during the transaction; and   an interface operatively associated with the display terminal that is configured to allow the second party to control an attribute of the multimedia presentation and to determine whether the signature of the second party may be associated with the at least one document.   
     
     
         2 . The system according to  claim 1 , wherein the display terminal, recording device and the interface are located in a kiosk, and wherein the data storage operatively associated with the recording device is located remote from the kiosk. 
     
     
         3 . The system according to  claim 1 , wherein the explanation of one or more terms set forth in said at least one document is provided by an avatar. 
     
     
         4 . The system according to  claim 3 , wherein the attribute of the multimedia presentation that can be controlled by the second party is one or more selected from the group consisting of a language of the multimedia presentation, a pace at which the multimedia presentation is presented to the second party, and an appearance of the avatar. 
     
     
         5 . The system according to  claim 1  further comprising a compiler module configured to select documents identified in a documents database and stored in an associated documents storage device that are appropriate for the transaction and to compile said selected documents into the multimedia presentation for display to the second party during the transaction. 
     
     
         6 . The system according to  claim 2  further comprising a call button configured to permit the second party to summon the first party or an agent of the first party to come to the kiosk to confer with the second party. 
     
     
         7 . The system according to  claim 1 , wherein the recording device is configured to capture a view of at least a face of the second party and audible sounds emitted by the second party. 
     
     
         8 . The system according to  claim 2 , wherein the kiosk is isolated in a room that separates the second party from distractions during the multimedia presentation. 
     
     
         9 . The system according to  claim 2 , wherein the kiosk is in a form of a stall having sidewalls that block the second party's forward, left and right views outside of the stall when the second party is positioned in front of the display terminal. 
     
     
         10 . The system according to  claim 1 , wherein an audio portion of the multimedia presentation is presented to the second party via speakers associated with the display terminal or via headphones worn by the second party. 
     
     
         11 . A method for validating a transaction between a first party and a second party, the method comprising:
 compiling a multimedia presentation that includes at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document;   displaying the multimedia presentation to the second party on a display terminal during the transaction;   capturing a signature of the second party;   providing an interface operatively associated with the display terminal that allows the second party to control an attribute of the multimedia presentation and to determine whether the signature of the second party may be associated with the at least one document;   recording audio and video of the second party during the transaction; and   storing the audio and video recording of the second party acquired during the transaction.   
     
     
         12 . The method according to  claim 11 , wherein the display terminal, device for capturing the signature of the second party, recording device and the interface are located in a kiosk, and wherein the data storage operatively associated with the recording device is located remote from the kiosk. 
     
     
         13 . The method according to  claim 11 , wherein the explanation of one or more terms set forth in said at least one document is provided by an avatar. 
     
     
         14 . The method according to  claim 13 , wherein the attribute of the multimedia presentation that can be controlled by the second party is one or more selected from the group consisting of a language of the multimedia presentation, a pace at which the multimedia presentation is presented to the second party, and an appearance of the avatar. 
     
     
         15 . The method according to  claim 14  further comprising, prior to the compiling step, a step of identifying, using a compiler module, one or more documents in a documents database and stored in an associated documents storage that are appropriate for the transaction based upon transaction information provided by the first party. 
     
     
         16 . The method according to  claim 11 , wherein the recording is made by a device configured to capture a view of a face of the second party and audible sounds emitted by the second party. 
     
     
         17 . The method according to  claim 12 , wherein the kiosk is isolated in a room that separates the second party from distractions during the multimedia presentation. 
     
     
         18 . The method according to  claim 12 , wherein the kiosk is in a form of a stall having sidewalls that block the second party's forward, left and right views outside of the stall when the second party is positioned in front of the display terminal. 
     
     
         19 . The method according to  claim 11 , wherein an audio portion of the multimedia presentation is presented to the second party via speakers associated with the display terminal or via headphones worn by the second party. 
     
     
         20 . A computer readable medium comprising instructions that when executed by a processor perform actions comprising:
 sending transaction information relating to a transaction between a first party and a second party to a compiler module upon receipt of a command from the first party or an agent of the first party;   displaying a multimedia presentation compiled by the compiler module to the second party on a display terminal during the transaction, said multimedia presentation including at least one document to be signed by the second party accompanied by explanation of one or more terms set forth in said at least one document;   controlling an interface operatively associated with the display terminal that allows the second party to control an attribute of the multimedia presentation and to determine whether signature of the second party captured by a signature capture device may be associated with the at least one document;   controlling a device that records audio and video of the second party during the transaction;   associating the second party's signature with the at least one document upon receipt of a command from the second party authorizing such action; and   storing the audio and video recording of the second party acquired during the transaction.