Systems and methods for tracking and adjustment of electronic transaction processing results

• US 10,169,749 B2
• Filed: 09/03/2015
• Issued: 01/01/2019
• Est. Priority Date: 09/03/2015
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Narayana, Usha, Summerrow, Kimberly Belle, Blackburn, Jared J., Hunter, Shaun G., Noles, Van A.
• Primary Examiner(s): Masud, Rokib
• Application Number:
  US14/844,875
• Publication Number:
  US 20170068943A1
• Time in Patent Office: 1,216 Days
• Field of Search: 705 15, 705 16, 705 24
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: H04W 4/12 Messaging; Mailboxes; Announcements

Abstract

A computer implemented system and method are disclosed involving technological advancements in the processing of electronic transaction processing results. The system may comprise a computer apparatus implementing a checking account system, a savings account system, a merchant account and investment account on a funds management system, and one or more computer systems and mobile devices including a communication interface, processor, memory storing computer-executable instructions, and savings modules. Reward amounts may be calculated based on various techniques.

Claims

1. A method of generating haptic feedback at a wireless device to, without friction, encourage frictionless debit transactions towards completion of a savings goal, the method comprising:

providing, by the wireless device, an interface comprising a plurality of selectable input elements wherein each one of the selectable input elements corresponds to defining the savings goal;

receiving, by the wireless device, input defining the savings goal;

authorizing, by a computer server in signal communication with a point-of-sale device, a first financial transaction initiated at the point-of-sale device;

posting, by the computer server, the first financial transaction to a source account;

calculating, by the computer server, a first savings amount by rounding a transaction amount of the first financial transaction to a nearest whole monetary amount wherein the first savings amount is a difference between the transaction amount and the nearest whole monetary amount;

calculating, by the computer server, an aggregate savings amount by aggregating the first savings amount and at least a second savings amount calculated for an at least second financial transaction posted to the source account;

determining, by the computer server, that the first aggregate savings amount is not on track to meet the savings goal;

determining, by the computer server, a first frictionless savings amount by calculating additional savings to add with the first aggregating savings amount to maintain on track with the savings goal;

determining, by the computer server, that the first frictionless savings amount is available in the source account before debiting the first frictionless savings amount from the source account; and

sending, by the computer server, a debit transaction to the computing device associated with the source account wherein receipt of the debit transaction at the computing device causes the computing device to debit the first frictionless savings amount from the source account to a recipient account;

calculating, by the computer server, a total savings amount by aggregating the first frictionless savings amount and other frictionless savings amounts;

automatically reducing, by a frictionless savings module at the computer server, the savings goal based on historical financial transactions of a user initiated at point-of-sale devices to keep the total saving amount on track to meet the savings goal;

determining, by the computer server, that the total saving amount reaches the savings goal; and

activating, by the computer server, a motor in the wireless device to generate vibrations to notify the user of completion of the savings goal using frictionless savings amounts.

2. The method of claim 1, wherein the wireless device is a smartphone.

3. The method of claim 1, wherein the wireless device is a smartwatch.

4. The method of claim 1, wherein one of the selectable input elements corresponding to a savings goal is a monetary amount.

5. The method of claim 1, wherein one of the selectable input elements corresponding to a savings goal is a non-monetary goal.

6. The method of claim 1, wherein one of the selectable input elements corresponding to a savings goal is a time frame for achieving the savings goal.

7. The method of claim 1, wherein the notification is a text message to the wireless device.

8. The method of claim 1, wherein the interface is a touchscreen display.

9. A system that generates haptic feedback at a wireless device to encourage frictionless debit transactions towards completion of a savings goal, comprising:

a point of sale device, for conducting a financial transaction;

a computer server with a frictionless savings module, for conducting signal communication with the point of sale device and the wireless device;

the wireless device, for conducting signal communication with the point of sale device and the computer server;

a first computer memory at the wireless device storing computer-executable instructions that, when executed by a second processor of the wireless device, causes the wireless device to perform steps comprising;

providing an interface comprising a plurality of selectable input elements wherein each one of the selectable input elements corresponds to defining a savings goal;

receiving input identifying the savings goal;

activating, through a signal from the computer server, a motor in the wireless device to generate vibrations to notify of completion of the savings goal;

and

a second computer memory at the computer server storing computer-executable instructions that, when executed by a first processor of the computer server, causes the computer server to perform steps comprising;

authorizing a first financial transaction initiated at the point of sale device,

sending a post transaction to a computing device associated with a source account wherein receipt of the post transaction at the computing device causes the computing device to post the first financial transaction to the source account;

comparing total prior savings amount to the savings goal;

determining the minimum threshold of available funds in the source account;

calculating a first savings amount by determining the savings amount necessary to keep total savings on track with achieving the savings goal and maintaining the minimum threshold of available funds;

calculating a first aggregate savings amount by aggregating the first savings amount and at least a second savings amount from an at least second financial transaction;

determine that the aggregate savings amount is available in the source account before debiting the aggregate savings amount from the source account;

sending a debit transaction to the computing device associated with the source account wherein receipt of the debit transaction at the computing device causes the computing device to debit the aggregate savings amount from the source account to a recipient account;

calculate a total savings amount;

automatically reducing, by the frictionless savings module, the savings goal based on historical financial transactions initiated at point-of-sale devices to keep the total saving amount on track to meet the savings goal;

determining that the total savings amount reaches the savings goal; and

sending a notification of the completion of the savings goal to the wireless device associated with the source account.

10. A system according to claim 9, wherein the wireless device is a smartphone.

11. A system according to claim 9, wherein the wireless device is a tablet.

12. A system according to claim 9, wherein one of the selectable input elements corresponding to a savings goal is a non-monetary goal.

13. A system according to claim 9, wherein one of the selectable input elements corresponding to a savings goal is a time frame for achieving the savings goal.

14. A non-transitory computer-readable storage medium storing computer-executable instructions that, when executed by a computer processor, cause an apparatus to:

authorize a first financial transaction initiated at a point-of-sale device;

post the first financial transaction to a source account;

calculate a first savings amount by rounding a transaction amount of the first financial transaction to a nearest whole monetary amount wherein the first savings amount is a difference between the transaction amount and the nearest whole monetary amount;

calculate an aggregate savings amount by aggregating the first savings amount and at least a second savings amount calculated for an at least second financial transaction posted to the source account;

determine total prior savings posted to a recipient account;

determine a comparable average demographic savings amount;

compare the total prior savings posted to a recipient account to the comparable demographic savings amounts;

determine a first frictionless savings amount by calculating additional savings to add with the first aggregating savings amount to stay on track with the comparable demographic savings amounts;

determine that the first frictionless savings amount is available in the source account before debiting the first frictionless savings amount from the source account; and

send a debit transaction to a computing device associated with the source account wherein receipt of the debit transaction at the computing device causes the computing device to debit the first frictionless savings amount from the source account to a recipient account;

calculate a total savings amount by aggregating the first frictionless savings amount and all other frictionless savings amounts;

determine that the total saving amount matches a savings goal; and

send a notification of completion of the savings goal to the wireless device associated with the source account, wherein the notification comprises activating, through a signal from a computer server, a motor in the wireless device to generate vibrations.

15. The non-transitory computer-readable storage medium of claim 14 wherein the comparable average demographic savings amount comprises savings of similar third party users.

16. The non-transitory computer-readable storage medium of claim 14 wherein the comparable average demographic savings amount comprises the average demographic savings of a user'"'"'s social media friends.

17. The non-transitory computer-readable storage medium of claim 14 wherein the wireless device is a smartphone.