# US 2014/0156480 A1 · Personal financial management payment allocation

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- Number: US 2014/0156480 A1
- Document ID: US20140156480A1
- Status: Published application
- Kind: A1
- Application number: 13/690,117
- Filed: 2012-11-30
- Published: 2014-06-05
- Earliest claimed: 2012-11-30
- Assignees: Bank of America Corporation
- Applicants: Bank of America Corporation
- Inventors: Hood QAIM-MAQAMI; Pavan CHAYANAM; Rick KNAFELZ
- Web page: https://patentgrep.com/patent/US20140156480A1

## CPC

- G06Q 40/02: Banking, e.g. interest calculation or account maintenance (credit or loans G06Q40/03)
- G06Q 20/322: {Aspects of commerce using mobile devices [M-devices]}
- G06Q 20/389: {Keeping log of transactions for guaranteeing non-repudiation of a transaction}
- G06Q 20/405: {Establishing or using transaction specific rules}
- G06Q: INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR

## Abstract

Devices, methods and computer program are defined that provide recommendations to users based on the user's personal financial management information and a benefit to the user. The personal financial management information may include a snapshot of the user's accounts, a timeline of the user's accounts, or a cash flow of the user's accounts. The benefit can be a financial benefit, such as a lower interest rate, or a non-financial benefit, such as an improved return policy. In a further embodiment, the recommendation is determined by crowdsourcing using a cohort of financial institution customers that share some characteristics with the user. As a result the user makes informed decisions on which payment type to use or other change for a future transaction at the merchant.

## Claims

### Claim 1

A device configured for providing a recommendation for a future occurrence of a transaction, the device comprising:
a computing platform including a memory and at least one processor in communication with the memory; and
a payment recommendation module, stored in the memory, executable by the processor and configured to:
determine that a user has conducted a transaction;
determining personal financial management information for the user, the personal financial management information comprising at least one of a snapshot of at least one account of the user, a timeline of at least one account of the user, and a cash flow of at least one account of the user;
determining a benefit to changing a future occurrence of the transaction; and
providing a recommendation for the future occurrence of the transaction based on the personal financial management information and the benefit to changing.

### Claim 2 (depends on 1)

The device of claim 1, wherein the personal financial management information comprises the snapshot, the timeline, and the cash flow for at least one account of the user.

### Claim 3 (depends on 1)

The device of claim 1, wherein the benefit to changing the future occurrence of the transaction is a non-financial benefit to the user.

### Claim 4 (depends on 3)

The device of claim 3, wherein the non-financial benefit is selected from the group consisting of an extended warranty, an improved return policy, and access to a higher tier level of service.

### Claim 5 (depends on 1)

The device of claim 1, wherein the benefit to changing the future occurrence of the transaction is a financial benefit to the user.

### Claim 6 (depends on 5)

The device of claim 5, wherein the financial benefit is selected from the group consisting of a low price guarantee, a lower interest rate, and a refund.

### Claim 7 (depends on 1)

The device of claim 1, wherein the benefit is determined based on a determination of the most frequent transaction method by a cohort of financial institution customers selected based on similarity to the user.

### Claim 8

A method for providing a recommendation for a future occurrence of a transaction, the method comprising:
determining, by a computing device processor, that a user has conducted a transaction;
determining, by a computing device processor, personal financial management information for the user, the personal financial management information comprising at least one of a snapshot of at least one account of the user, a timeline of at least one account of the user, and a cash flow of at least one account of the user;
determining, by a computing device processor, a benefit to changing a future occurrence of the transaction; and
providing a recommendation for the future occurrence of the transaction based on the personal financial management information and the benefit to changing.

### Claim 9 (depends on 8)

The method of claim 8, wherein the personal financial management information comprises the snapshot, the timeline, and the cash flow for at least one account of the user.

### Claim 10 (depends on 8)

The method of claim 8, wherein the benefit to changing the future occurrence of the transaction is a non-financial benefit to the user.

### Claim 11 (depends on 10)

The method of claim 10, wherein the non-financial benefit is selected from the group consisting of an extended warranty, an improved return policy, and access to a higher tier level of service.

### Claim 12 (depends on 8)

The method of claim 8, wherein the benefit to changing the future occurrence of the transaction is a financial benefit to the user.

### Claim 13 (depends on 12)

The method of claim 12, wherein the financial benefit is selected from the group consisting of a low price guarantee, a lower interest rate, and a refund.

### Claim 14 (depends on 8)

The method of claim 8, wherein the benefit is determined based on a determination of the most frequent transaction method by a cohort of financial institution customers selected based on similarity to the user.

### Claim 15

A computer program product for providing a recommendation for a future occurrence of a transaction, the computer program product comprising a non-transitory computer-readable medium comprising:
a set of codes for causing a device to determine that a user has conducted a transaction;
a set of codes for causing a device to determine personal financial management information for the user, the personal financial management information comprising at least one of a snapshot of at least one account of the user, a timeline of at least one account of the user, and a cash flow of at least one account of the user;
a set of codes for causing a device to determine a benefit to changing a future occurrence of the transaction; and
a set of codes for causing a device to provide a recommendation for the future occurrence of the transaction based on the personal financial management information and the benefit to changing.

### Claim 16 (depends on 15)

The computer program product of claim 15, wherein the benefit to changing the future occurrence of the transaction is a non-financial benefit to the user.

### Claim 17 (depends on 16)

The computer program product of claim 16, wherein the non-financial benefit is selected from the group consisting of an extended warranty, an improved return policy, and access to a higher tier level of service.

### Claim 18 (depends on 15)

The computer program product of claim 15, wherein the benefit to changing the future occurrence of the transaction is a financial benefit to the user.

### Claim 19 (depends on 18)

The computer program product of claim 18, wherein the financial benefit is selected from the group consisting of a low price guarantee, a lower interest rate, and a refund.

### Claim 20 (depends on 15)

The computer program product of claim 15, wherein the benefit is determined based on a determination of the most frequent transaction method by a cohort of financial institution customers selected based on similarity to the user.