SYSTEMS AND METHODS FOR AUTHORIZING A PURCHASE TRANSACTION USING NET WORTH ESTIMATE

Abstract

Systems and methods for permitting a consumer to consummate a purchase transaction when the purchase transaction amount exceeds an available credit limit and that consumer has assets to cover the overage amount. Thus, in some embodiments a net worth confirmation platform receives transaction information, transmits the transaction information to an Issuer financial institution (FI), receives an indication from the Issuer FI that the that the transaction is unauthorized, and determines that at least one business rule applies to the transaction and an overage amount. The net worth confirmation platform also determines a net worth estimate of the consumer based on at least one asset of the consumer, and transmits a transaction authorization message to the merchant when the business rule(s) is or are satisfied.