Methods and systems for offering financial products

• US 10,699,307 B2
• Filed: 10/04/2017
• Issued: 06/30/2020
• Est. Priority Date: 10/04/2017
• Status: Active Grant

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Kwizera, Felix B., Mibuari, Eric, Ogega, Violette, Speakman, Skyler, Wambugu, Isaac W.
• Primary Examiner(s): Sittner, Matthew T
• Application Number:
  US15/724,617
• Publication Number:
  US 20190102799A1
• Time in Patent Office: 1,000 Days
• Field of Search: None
• CPC Class Codes: G06Q 10/067 Enterprise or organisation modelling
• CPC Class Codes: G06Q 30/0264 based upon schedule
• CPC Class Codes: G06Q 30/0267 Wireless devices
• CPC Class Codes: G06Q 30/0269 based on user profile or attribute
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The disclosure provides systems and methods for analysis of financial data and customization of financial products. Time-dependent data is obtained for a relatively large set of users, and from the data are determined a relatively small set of trajectories that model user behaviour. New users are characterized according to the trajectories and financial products are automatically personalised to suit the new user.

Claims

1. A method for processing financial information comprising:

retrieving time-dependent financial data for a first financial variable for a plurality of users;

analyzing values of the time-dependent financial data for each user of the plurality of users, wherein the values are periodically measured over a predetermined period of time;

identifying a plurality of first financial variable trajectories based on the analyzing, wherein the plurality of first financial variable trajectories comprise expressions of financial-based behavior of respective groups of the plurality of users over the predetermined period of time;

for a set of first financial variable time-dependent data for a new user, determining a best fitting trajectory from the plurality of first financial variable trajectories;

automatically generating at least one message configured to cause execution of one or more tasks on a recipient device selected from a user device associated with the new user and a provider device associated with a provider, wherein the at least one message has one or more formats compatible with the recipient device and the provider device; and

transmitting the at least one message, via a distributed network, to the recipient device, the at least one message comprising content determined at least in part by the best fitting trajectory;

wherein the one or more tasks comprise;

a modification of a user interface of the recipient device to display the content, wherein the content comprises an offer for a financial product, and wherein at least one variable pertaining to the financial product is determined at least in part by the best fitting trajectory; and

a modification of the user interface of the recipient device to display the at least one variable; and

an alteration of an application stored in a memory of the recipient device to display a new field related to the financial product.

2. The method of claim 1, wherein the one or more tasks are configured to result in a non-volatile change to the recipient device and further comprise at least one of:

a change in a setting in the recipient device;

an automatic configuration of an alert schedule to provide scheduled reminders to the new user or to the provider; and

an updating of a profile of the new user on the provider device.

3. The method of claim 1, wherein the first financial variable is selected from a savings account balance, an outstanding credit balance, a credit capacity, a length of credit history, a number of deposits, a number of withdrawals, a number of loans, a number of repayments, a number of balance queries, an amount of interest earned over time, an amount of largest deposit, an amount of largest withdrawal, an average deposit, and an average withdrawal.

4. The method of claim 1, wherein the plurality of first financial variable trajectories comprises between 2 and 10 trajectories.

5. The method of claim 1, further comprising:

retrieving additional time-dependent financial data for a plurality of additional financial variables for the plurality of users;

analyzing values of the additional time-dependent financial data for each user of the plurality of users, wherein the values of the additional time-dependent financial data are periodically measured over a predetermined period of time; and

identifying a plurality of additional financial variable trajectories for each of the plurality of additional financial variables based on the analyzing of the values of the additional time-dependent financial data.

6. The method of claim 5, further comprising determining best fitting trajectories for each of the plurality of additional financial variables for the new user from the plurality of additional financial variable trajectories for each of the plurality of additional financial variables.

7. The method of claim 1, wherein the message is transmitted to the provider device and wherein the content further comprises characterization of the new user based on the best fitting trajectory.

8. The method of claim 1, wherein the at least one variable is selected from a loan amount, an interest rate, and a repayment schedule.

9. A system comprising:

a processor;

a memory coupled to the processor, the memory configured to store program instructions for instructing the processor;

to retrieve time-dependent financial data for a first financial variable for a plurality of users;

to analyze values of the time-dependent financial data for each user of the plurality of users, wherein the values are periodically measured over a predetermined period of time;

to identify a plurality of first financial variable trajectories based on the analyzing, wherein the plurality of first financial variable trajectories comprise expressions of financial-based behavior of respective groups of the plurality of users over the predetermined period of time;

for a set of first financial variable time-dependent data for a new user, to determine a best fitting trajectory from the plurality of first financial variable trajectories;

to automatically generate at least one message configured to cause execution of one or more tasks on a recipient device selected from a user device associated with the new user and a provider device associated with a provider, wherein the at least one message has one or more formats compatible with the recipient device and the provider device;

to transmit the at least one message, via a distributed network, to the recipient device, the at least one message comprising content determined at least in part by the best fitting trajectory;

wherein the one or more tasks comprise;

a modification of a user interface of the recipient device to display the content, wherein the content comprises an offer for a financial product, and wherein at least one variable pertaining to the financial product is determined at least in part by the best fitting trajectory;

a modification of the user interface of the recipient device to display the at least one variable; and

an alteration of an application stored in a memory of the recipient device to display a new field related to the financial product.

10. The system of claim 9, wherein the one or more tasks are configured to result in a non-volatile change to the recipient device and further comprise at least one of:

a change in a setting in the recipient device;

an automatic configuration of an alert schedule to provide scheduled reminders to the new user or to the provider; and

an updating of a profile of the new user on the provider device.

11. The system of claim 9, wherein the first financial variable is selected from a savings account balance, an outstanding credit balance, a credit capacity, a length of credit history, a number of deposits, a number of withdrawals, a number of loans, a number of repayments, a number of balance queries, an amount of interest earned over time, an amount of largest deposit, an amount of largest withdrawal, an average deposit, and an average withdrawal.

12. The system of claim 9, wherein the plurality of first financial variable trajectories comprises between 2 and 10 trajectories.

13. The system of claim 9, wherein the program instructions further instruct the processor:

to retrieve additional time-dependent financial data for a plurality of additional financial variables for the plurality of users;

to analyze values of the additional time-dependent financial data for each user of the plurality of users, wherein the values of the additional time-dependent financial data are periodically measured over a predetermined period of time; and

to identify a plurality of additional financial variable trajectories for each of the plurality of additional financial variables based on the analysis of the values of the additional time-dependent financial data.

14. The system of claim 13, wherein the program instructions further instruct the processor to determine best fitting trajectories for each of the plurality of additional financial variables for the new user from the plurality of additional financial variable trajectories for each of the plurality of additional financial variables.

15. The system of claim 9, wherein the message is transmitted to the provider device and wherein the content further comprises characterization of the new user based on the best fitting trajectory.

16. The system of claim 9, wherein the at least one variable is selected from a loan amount, an interest rate, and a repayment schedule.