System for analyzing historical events to determine potential catalysts and automatically generating and implementing mitigation

• US 10,438,296 B2
• Filed: 10/18/2016
• Issued: 10/08/2019
• Est. Priority Date: 08/08/2016
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Dintenfass, Katherine, Dravneek, Victoria L., Hsieh, Matthew, Hobbs, Wade Travis
• Primary Examiner(s): Hayles, Ashford S
• Application Number:
  US15/296,891
• Publication Number:
  US 20180040072A1
• Time in Patent Office: 1,085 Days
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

Embodiments analyze historical events to determine potential catalysts and automatically generate and implement mitigation of issues by determining a potential issue with a customer'"'"'s finances based on historical event data; correlating the potential issue with one or more causes of the potential issue; and, in response to the correlation, initiating mitigation of the issue. In some cases, embodiments rank the possible causes of the potential issue; and present the possible causes to the customer for consideration. In some cases, embodiments receive the customer'"'"'s confirmation of the possible causes. In some cases, embodiments initiate communication of one or more recommendations for mitigating the potential issue to the customer, receive the customer'"'"'s approval of at least one recommendation; and initiate mitigation of the issue based on the at least one approved recommendation.

Claims

1. A system for analyzing historical events to determine potential catalysts and automatically generating and implementing mitigation, the system comprising:

a plurality of customer data sources;

a hub computer apparatus including a first processor, a first memory device, and a first communication device, wherein the hub computer apparatus is a hub to the plurality of data sources which are configured in spoke arrangement to the hub;

a spoke control apparatus including a second processor, a second memory device and a second communication device, wherein the spoke control system is in communication with the plurality of data sources and the computer apparatus; and

a software module stored in the memory, comprising computer-readable instructions that when executed by the at least one of first and second processor cause the first and second processor to;

collect, from the plurality data sources, historical event data associated with a customer, wherein collecting data comprises;

detecting, by the spoke control apparatus, that historical event data associated with the customer is available at one of the plurality of customer data source;

sending control signals to the hub computer apparatus for establishing a dedicated communication channel;

selecting, by the hub computing apparatus, one or more network systems for a dedicated communication channel, wherein the selection is based on a functioning category assigned to each of a plurality of network systems;

implementing the one or more selected network systems to establish a dedicated communication channel between the hub computer apparatus and the one of the plurality of data sources; and

communicating the historical event data associated with the customer over the dedicated communication channel;

determine a potential issue with a customer'"'"'s finances based on the historical event data;

correlate the potential issue with one or more causes of the potential issue by applying a correlation algorithm to the collected data to establish at least one nexus between the collected data and the potential issue, wherein the correlation algorithm is configured to determine whether circumstances corresponding to the collected data are likely to cause the potential issue, thereby resulting in;

(1) at least one likelihood of causation, each likelihood of causation corresponding to (i) only one of the at least nexuses, and (ii) a collected-data-potential-issue pair, and

(2) a level of causation corresponding to (i) all of the at least one nexuses, and (ii) the collected-data-potential-issue pair; and

in response to the correlation, initiate mitigation of the issue by automatically implementing one or more computerized actions intended to correct the potential issue.

2. The system of claim 1, wherein the computer-readable instructions when executed by the processor further cause the processor to:

rank the possible causes of the potential issue; and

present the possible causes to the customer for consideration.

3. The system of claim 2, wherein the computer-readable instructions that when executed by the processor cause the processor to:

receive the customer'"'"'s confirmation of the possible causes.

4. The system of claim 1, wherein the computer-readable instructions that when executed by the processor cause the processor to:

initiate communication of one or more recommendations for mitigating the potential issue to the customer.

5. The system of claim 4, wherein the computer-readable instructions that when executed by the processor cause the processor to:

receive the customer'"'"'s approval of at least one recommendation; and

initiate mitigation of the issue based on the at least one approved recommendation.

6. The system of claim 1, wherein the likelihood of causation corresponds to one of the at least one nexuses and the level of causation represents a combination of each of the at least one likelihoods of causation.

7. A computer program product for analyzing historical events to determine potential catalysts and automatically generating and implementing mitigation, 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 to collect, from a plurality data sources, historical event data associated with a customer by;

(i) detecting that historical event data associated with the customer is available at one of the plurality of customer data source, (ii) in response to detecting, sending control signals for establishing a dedicated communication channel, (iii) selecting one or more network systems for a dedicated communication channel, wherein the selection is based on a functioning category assigned to each of a plurality of network systems, (iv) implementing the one or more selected network systems to establish a dedicated communication channel, and (v) communicating the historical event data associated with the customer over the dedicated communication channel;

an executable portion configured to determine a potential issue with a customer'"'"'s finances based on the historical event data;

an executable portion configured to correlate the potential issue with one or more causes of the potential issue by applying a correlation algorithm to the collected data to establish at least one nexus between the collected data and the potential issue, wherein the correlation algorithm is configured to determine whether circumstances corresponding to the collected data are likely to cause the potential issue, thereby resulting in;

(1) at least one likelihood of causation each corresponding to (i) only one of the at least nexuses, and (ii) a collected-data-potential-issue pair, and

(2) a level of causation corresponding to (ii) all of the at least one nexuses, and (ii) the collected-data-potential-issue pair; and

an executable portion configured to, in response to the correlation, initiate mitigation of the issue by automatically implementing one or more computerized actions intended to correct the potential issue.

8. The computer program product of claim 7, wherein the computer-readable program code portions further comprise:

an executable portion configured to rank the possible causes of the potential issue; and

an executable portion configured to present the possible causes to the customer for consideration.

9. The computer program product of claim 8, wherein the computer-readable program code portions further comprise:

an executable portion configured to receive the customer'"'"'s confirmation of the possible causes.

10. The computer program product of claim 7, wherein the computer-readable program code portions further comprise:

an executable portion configured to initiate communication of one or more recommendations for mitigating the potential issue to the customer.

11. The computer program product of claim 10, wherein the computer-readable program code portions further comprise:

an executable portion configured to receive the customer'"'"'s approval of at least one recommendation; and

an executable portion configured to initiate mitigation of the issue based on the at least one approved recommendation.

12. The computer program product of claim 7, wherein the likelihood of causation corresponds to one of the at least one nexuses and the level of causation represents a combination of each of the at least one likelihoods of causation.

13. A method for analyzing historical events to determine potential catalysts and automatically generating and implementing mitigation, the method comprising:

collect, by a computing device processor, from a plurality data sources, historical event data associated with a customer by;

(i) detecting that historical event data associated with the customer is available at one of the plurality of customer data source, (ii) in response to detecting, sending control signals for establishing a dedicated communication channel, (iii) selecting one or more network systems for a dedicated communication channel, wherein the selection is based on a functioning category assigned to each of a plurality of network systems, (iv) implementing the one or more selected network systems to establish a dedicated communication channel, and (v) communicating the historical event data associated with the customer over the dedicated communication channel;

determining, by a computer processing device, a potential issue with a customer'"'"'s finances based on the historical event data;

correlating, by the computer processing device, the potential issue with one or more causes of the potential issue by applying a correlation algorithm to the collected data to establish at least one nexus between the collected data and the potential issue, wherein the correlation algorithm is configured to determine whether circumstances corresponding to the collected data are likely to cause the potential issue, thereby resulting in at least one likelihood of causation each corresponding to only one of the at least nexuses and a collected-data-potential-issue pair and a level of causation corresponding to all of the at least one nexuses and the collected-data-potential-issue pair; and

in response to the correlation, initiating, by the computer processing device, mitigation of the issue by automatically implementing one or more computerized actions intended to correct the potential issue.

14. The method of claim 13, further comprising:

ranking the possible causes of the potential issue; and

presenting the possible causes to the customer for consideration.

15. The method of claim 14, further comprising:

receiving the customer'"'"'s confirmation of the possible causes.

16. The method of claim 13, further comprising:

initiating communication of one or more recommendations for mitigating the potential issue to the customer.

17. The method of claim 13, further comprising:

receiving the customer'"'"'s approval of at least one recommendation; and

initiating mitigation of the issue based on the at least one approved recommendation.

18. The method of claim 13, wherein the likelihood of causation corresponds to one of the at least one nexuses and the level of causation represents a combination of each of the at least one likelihoods of causation.