Reallocation of resources system

• US 10,068,211 B2
• Filed: 01/04/2016
• Issued: 09/04/2018
• Est. Priority Date: 01/04/2016
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Cole, Kevin T., Hsieh, Matthew, Enscoe, Scott R., Bullock, Caitlin Chrisman
• Primary Examiner(s): Kwong, Cho
• Application Number:
  US14/987,008
• Publication Number:
  US 20170193474A1
• Time in Patent Office: 974 Days
• Field of Search: 705 42
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 30/0633 Lists, e.g. purchase orders, compilation or processing
• CPC Class Codes: H04L 63/08 for authentication of entities cryptographic mechanisms or cryptographic arrangements for entity authentication H04L9/32
• CPC Class Codes: H04L 67/53 using third party service providers

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for providing a reallocation of resources contextual visual element and double verification requirement for resource distribution. In this way, the system identifies goals associated with a user and generated contextual visual elements associated with those goals. Based on a triggering event, the system displays the customized contextual visual element on a display of the user'"'"'s device locking the functionality of the user device for a period of time the contextual visual element is displayed. Furthermore, the system may integrate and code a double verification requirement into resource distribution applications, requiring secondary authentication and additional verification for resource distribution.

Claims

1. A system for reallocation of resources, the system comprising:

a memory device with computer-readable program code stored thereon;

a communication device;

a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to;

determine resources available to a user including real-time resource balances, budgets, and goals for the resources;

generate a contextual visual representation of a goal product or service for the resources;

store the generated contextual visual representation on a mobile device associated with a user, wherein the contextual visual representation is coded for display based on a triggering event;

identify, on the mobile device associated with the user, one or more applications associated with resources, wherein the identified one or more applications are third party applications and allow the user to transfer resources;

generate a double verification requirement, wherein the double verification requirement is an authentication for transferring resources via the one or more application;

apply the double verification requirement within the one or more applications by inputting code that requires the user to verify using the double verification prior to allowing the application to transfer resources, wherein the double verification requirement is independent of any log in requirements of the one or more applications;

identify the triggering event; and

present the generated contextual visual representation on a display associated with the mobile device via an alert based on the identification of the triggering event and locking the functionality of the mobile device for a predetermined time period with the generated contextual visual representation on the display associated with the mobile device.

2. The system of claim 1, wherein generating the contextual visual representation of a goal product or service for the resources further comprises generating a customized contextual visual representation of the goal product or service in use in an environment of the user.

3. The system of claim 1, wherein presenting the generated contextual visual representation on a display associated with the mobile device via an alert comprises presenting a goal product or service in the environment of the user and locking the contextual visual representation on the display of the mobile device preventing functionality of the mobile device for a period up to 10 seconds.

4. The system of claim 1, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant comprises identifying products in an online shopping cart associated with the user.

5. The system of claim 1, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant is based on GPS location of the mobile device being collocated with a merchant point of sale terminal.

6. The system of claim 1, wherein upon receiving a successful passcode authorization the double verification requirement is lifted and the one or more application functionality is restored to transfer resources.

7. The system of claim 1, wherein resources comprise financial resources of the user.

8. A computer program product for reallocation of resources, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:

an executable portion configured for determining resources available to a user including real-time resource balances, budgets, and goals for the resources;

an executable portion configured for generating a contextual visual representation of a goal product or service for the resources;

an executable portion configured for storing the generated contextual visual representation on a mobile device associated with a user, wherein the contextual visual representation is coded for display based on a triggering event;

an executable portion configured for identifying, on the mobile device associated with the user, one or more applications associated with resources, wherein the identified one or more applications are third party applications and allow the user to transfer resources;

an executable portion configured for generating a double verification requirement, wherein the double verification requirement is an authentication for transferring resources via the one or more application;

an executable portion configured for applying the double verification requirement within the one or more applications by inputting code that requires the user to verify using the double verification prior to allowing the application to transfer resources, wherein the double verification requirement is independent of any log in requirements of the one or more applications;

an executable portion configured for identifying the triggering event; and

an executable portion configured for presenting the generated contextual visual representation on a display associated with the mobile device via an alert based on the identification of the triggering event and locking the functionality of the mobile device for a predetermined time period with the generated contextual visual representation on the display associated with the mobile device.

9. The computer program product of claim 8, wherein generating the contextual visual representation of a goal product or service for the resources further comprises generating a customized contextual visual representation of the goal product or service in use in an environment of the user.

10. The computer program product of claim 8, wherein presenting the generated contextual visual representation on a display associated with the mobile device via an alert comprises presenting a goal product or service in the environment of the user and locking the contextual visual representation on the display of the mobile device preventing functionality of the mobile device for a period up to 10 seconds.

11. The computer program product of claim 8, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant comprises identifying products in an online shopping cart associated with the user.

12. The computer program product of claim 8, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant is based on GPS location of the mobile device being collocated with a merchant point of sale terminal.

13. The computer program product of claim 8, wherein upon receiving a successful passcode authorization the double verification requirement is lifted and the one or more application functionality is restored to transfer resources.

14. A computer-implemented method for reallocation of resources, the method comprising:

providing a computing system comprising a computer processing device and a non-transitory computer readable medium, where the computer readable medium comprises configured computer program instruction code, such that when said instruction code is operated by said computer processing device, said computer processing device performs the following operations;

determining resources available to a user including real-time resource balances, budgets, and goals for the resources;

generating a contextual visual representation of a goal product or service for the resources;

storing the generated contextual visual representation on a mobile device associated with a user, wherein the contextual visual representation is coded for display based on a triggering event;

identifying, on the mobile device associated with the user, one or more applications associated with resources, wherein the identified one or more applications are third party applications and allow the user to transfer resources;

generating a double verification requirement, wherein the double verification requirement is an authentication for transferring resources via the one or more application;

applying the double verification requirement within the one or more applications by inputting code that requires the user to verify using the double verification prior to allowing the application to transfer resources, wherein the double verification requirement is independent of any log in requirements of the one or more applications;

identifying the triggering event; and

presenting the generated contextual visual representation on a display associated with the mobile device via an alert based on the identification of the triggering event and locking the functionality of the mobile device for a predetermined time period with the generated contextual visual representation on the display associated with the mobile device.

15. The computer-implemented method of claim 14, wherein generating the contextual visual representation of a goal product or service for the resources further comprises generating a customized contextual visual representation of the goal product or service in use in an environment of the user.

16. The computer-implemented method of claim 14, wherein presenting the generated contextual visual representation on a display associated with the mobile device via an alert comprises presenting a goal product or service in the environment of the user and locking the contextual visual representation on the display of the mobile device preventing functionality of the mobile device for a period up to 10 seconds.

17. The computer-implemented method of claim 14, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant comprises identifying products in an online shopping cart associated with the user.

18. The computer-implemented method of claim 14, wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant is based on GPS location of the mobile device being collocated with a merchant point of sale terminal.