Fee refund management
AssigneeWachovia Corporation
InventorsJohn David Taylor, Nicholas Edward Vincent, William John Carey, IV, Kimberly Robin Nelson, Cecelia Mason Oakley Gray
Life of this patent
Estimating the term…
Abstract
The innovation relates to a system and/or methodology for the convenient and consistent determination of fee refunds for financial products. The system provides for a fee refund component that determines a proposed fee refund based on a customer's score, and information regarding the financial institution's fee refund policies. The customer scores and fee refund policies are determined by a data analytics component, which can update the data at regular intervals or when modifications to the data occur.
Claims20
A fee refund management system, comprising:
- a data analytics component that determines at least one of a customer score, or a set of refund policies;
- and
- a fee refund determination component that determines a proposed fee refund for at least one of a deposit account, an investment account, or a credit account based at least in part on at least one of the customer score or the refund policy.
A computer-implemented method of fee refund management, comprising:
- analyzing at least one of a customer score or a set of refund policies;
- and
- generating a proposed fee refund for at least one of a deposit account, an investment account, or a credit account based at least in part on at least one of the customer score or the refund policies.
A fee refund management system, comprising:
- means for determining at least one of a customer score, or a set of refund policies, wherein the customer score is based at least in part on a relationship between a customer and a financial institution, the relationship includes including at least one of a customer's account types, account balances, prior refunds, or length of patronage;
- and
- means for determining a proposed fee refund for a customer account based at least in part on at least one of the customer score or the set of refund policies.
Dependencies are inferred from the claim text.