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US 10,855,835 B1Granted
Predicted location offers leveraging community based cost of living recommendations
AssigneeWells Fargo Bank, N.A.
InventorsLaura M. Fontana, Amita Kheterpal, Daniel Oshima, Samuel Ostler, Marria Rhodriquez
Life of this patent
Estimating the term…
Abstract
A computing system predicts a need of a customer based at least in part on a location of the customer, recommend a physical location to the customer based on the predicted need using location-based costs of living, and recommending offers to merchants based on historical activities of a plurality of customers.
Claims20
A method comprising:
- receiving transaction data comprising transaction information associated with an account of a customer of a financial institution;
- receiving location data comprising a physical location of the customer;
- analyzing the transaction data, by a computing system, to determine a recurring financial transaction associated with at least one of a good and a service;
- determining, by the computing system, a need of the customer for the at least one of the good and the service based at least in part on the location data and the recurring financial transaction;
- determining a plurality of locations where the at least one of the good and the service can be obtained and a cost of the at least one of the good and the service at each respective location, wherein the cost of the at least one of the good and the service factors in a cost of living associated with the at least one of the good and the service at the respective location;
- for each of the plurality of locations, calculating a cost of travel from the physical location of the customer to each respective location based on time and fuel for traveling between the physical location of the customer and each respective location;
- determining a recommended location based on the respective cost of the at least one of the good and the service and the respective cost of travel to each respective location, wherein determining the recommended location comprises:
- comparing, by the computing system, a difference of costs of living between the location of the customer and the recommended location, with the cost of travel to the recommended location;
- and
- determining it is worth traveling to the recommended location in response to the difference of costs of living being larger than the cost of travel;
- generating a price map for display at a user device, wherein the price map shows information about the cost of living associated with each respective location as contour lines on the price map;
- and
- transmitting, by the computing system to the user device of the customer, the recommended location including information on the at least one of the good and the service and the price map.
10 more elements
A computing system comprising:
- a network interface configured to communicate data to and from external devices;
- memory;
- and
- a processor performing operations from the memory to:
- receive transaction data comprising transaction information associated with an account of a customer of a financial institution;
- receive location data comprising a physical location of the customer;
- analyze the transaction data to determine a recurring financial transaction associated with at least one of a good and a service;
- determine a need of the customer for the at least one of the good and the service based at least in part on the location data and the recurring financial transaction;
- determine a plurality of locations where the at least one of the good and the service can be obtained and a cost of the at least one of the good and the service at each respective location, wherein the cost of the at least one of the good and the service factors in a cost of living associated with the at least one of the good and the service at the respective location;
- for each of the plurality of locations, calculate a cost of travel from the physical location of the customer to each respective location based on time and fuel for traveling between the physical location of the customer and each respective location;
- determine a recommended location based on the respective cost of the at least one of the good and the service and the respective cost of travel to each respective location, wherein determining the recommended location comprises:
- comparing a difference of costs of living between the location of the customer and the recommended location, with the cost of travel to the recommended location;
- and
- determining it is worth traveling to the recommended location in response to the difference of costs of living being larger than the cost of travel;
- generate a price map for display at a user device, wherein the price map shows information about the cost of living associated with each respective location as contour lines on the price map;
- and
- transmit to the user device of the customer the recommended location including information on the at least one of the good and the service and the price map.
14 more elements
The computing system of 9, wherein the location data includes at least one of data indicative of a current location and data indicative of a predicted location of a vehicle carrying the customer, wherein the current location is tracked by a GPS device on the user device, and wherein the predicted location is input by the customer to the user device as a destination.
A non-transitory computer-readable media having computer-executable instructions embodied therein, when executed by a processor of a computing system, cause the computing system to perform a process, the process including:
- receiving transaction data comprising transaction information associated with an account of a customer of a financial institution;
- receiving location data comprising a physical location of the customer;
- analyzing the transaction data to determine a recurring financial transaction associated with at least one of a good and a service;
- determining a need of a customer for the at least one of the good and the service based at least in part on the location data and the recurring financial transaction;
- determining a plurality of locations where the at least one of the good and the service can be obtained and a cost of the at least one of the good and the service at each respective location, wherein the cost of the at least one of the good and the service factors in a cost of living associated with the at least one of the good and the service at the respective location;
- for each of the plurality of locations, calculating a cost of travel from the physical location of the customer to each respective location based on time and fuel for traveling between the physical location of the customer and each respective location;
- determining a recommended location based on the respective cost of the at least one of the good and the service and the respective cost of travel to each respective location, wherein determining the recommended location comprises:
- comparing a difference of costs of living between the location of the customer and the recommended location, with the cost of travel to the recommended location;
- and
- determining it is worth traveling to the recommended location in response to the difference of costs of living being larger than the cost of travel;
- generating a price map for display at a user device, wherein the price map shows information about a cost of living associated with each respective location as contour lines on the price map;
- and
- transmitting, by the computing system to the user device of the customer, the recommended location including information on the at least one of the good and the service and the price map.
10 more elements
Dependencies are inferred from the claim text.