System and method for providing incentives to consumers to share information

• US 20040088219A1
• Filed: 11/05/2002
• Published: 05/06/2004
• Est. Priority Date: 11/05/2002
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: First USA Bank N.A. (JP Morgan Chase & Co)
• Inventors: Bowers, Theodore, Sanders, Shelley F., Ilijasic, Dean
• Granted Patent: US 8,301,493 B2
• Time in Patent Office: Days
• US Class Current: 705/14
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0213 Consumer transaction fees

Abstract

A system and method for providing incentives to consumers to share their consumer information with third parties is provided. According to one aspect of the present invention, a method is provided which includes the steps of: accepting consumer information; storing the consumer information; requesting permission from the consumer to share their consumer information with a third party; and offering the consumer a selected incentive in exchange for their permission to share their consumer information.

Claims

1. In a computer implemented system for storing and manipulating incentive information for motivating an individual to allow their personal information to be shared, the computer system comprising a storage device for storing the incentive information and a processor for prompting a customer service representative with incentives, a method for offering the incentives comprising the steps of:

creating an organizational structure in the storage device, wherein the organizational structure comprises a plurality of categories, each category comprising a plurality of sub-categories arranged in a hierarchy;

assigning weights to the incentive information; and

placing the incentive information into at least one of the plurality of categories and the plurality of sub-categories using the processor.

2. The method according to claim 1, wherein the step of placing the incentive information further comprises:

placing the incentive information in a first sub-category; and

placing the incentive information in one of the sub-category or the category above the first sub-category in the hierarchy.

3. The method according to claim 2, further comprising the step of determining the level of interest in keeping the applicant from opting out of sharing their information.

4. The method according to claim 3, further comprising the step of offering incentives based on at least one factor selected from the group comprising:

the level of interest, the incentive information, and the category and sub-category where the incentive information is located.

5. The method according to claim 1, wherein the incentive information comprises at least one of:

(a) a reduction in the minimum payment;

(b) a discount on the annual credit rate; and

(c) a discount on the yearly fee.

6. The method according to claim 1, further comprising the step of offering an incentive based on the incentive information and the category and sub-category where the incentive information is located.

7. The method according to claim 1, wherein the incentive information comprises degrees of discount for each of the incentives;

and

wherein the step of placing incentive information comprises placing the incentive information for an individual incentive into at least one predetermined category or sub-category.

8. The method according to claim 1, wherein the step of assigning weights to the incentive information comprises placing the weight associated with the incentive information for an individual incentive into at least one predetermined category or sub-category.

9. The method according to claim 3, wherein the step of determining the level of interest comprises the further step of placing the level of interest information into at least one of the plurality of categories and the plurality of sub-categories using the processor.

10. The method according to claim 1, further comprising the step of modifying the organizational structure based on a revision to the incentive information.

11. The method according to claim 10, wherein the step of modifying includes at least one of:

(a) adding a category;

(b) adding a sub-category;

(c) deleting a category;

(d) deleting a sub-category;

(e) merging a category; and

(f) merging a sub-category.

12. The method according to claim 6, wherein the step of offering an incentive further comprises using a link file to direct the processor, the link file comprising a plurality of instructions directing the processor to compare the level of interest in a predetermined location in the organizational structure to the weight of an incentive in a predetermined location in the organizational structure.

13. The method according to claim 12, further comprising the steps of setting the monitoring value based on the placement of the opt out information into the at least one predetermined category or sub-category;

and

setting an internal goal value based on the placement of the opt out information into the at least one predetermined category or sub-category.

14. The method according to claim 13, further comprising the step of comparing the monitoring value to the internal goal value using a link file to direct the processor, the link file comprising a plurality of instructions directing the processor to place opt out information in a predetermined location in the organizational structure.

15. The method according to claim 14, wherein the step of comparing the monitoring value to the internal goal value includes changing the level of interest value.

16. The method according to claim 1, wherein the step of assigning a weight to an incentive includes assigning a value based on an institution'"'"'s willingness to prevent an applicant from opting out.

17. The method according to claim 12, wherein the predetermined location in the organizational structure is determined based on the incentive information.

18. The method according to claim 12, wherein the predetermined location in the organizational structure is determined based on the opt out information.

19. A system for manipulating incentive information for motivating an individual to allow their personal information to be shared comprising:

means for creating an organizational structure in a storage means for storing the incentive information, wherein the organizational structure comprises a plurality of categories, each category comprising a plurality of sub-categories arranged in a hierarchy;

means for assigning weights to the incentive information; and

means for placing the incentive information into at least one of the plurality of categories and the plurality of sub-categories using a processor means.

20. The system according to claim 19, wherein the means for placing the incentive information further comprises:

means for placing the incentive information in a first sub-category; and

means for placing the incentive information in one of the sub-category or the category above the first sub-category in the hierarchy.

21. The system according to claim 20, further comprising means for determining the level of interest in keeping the applicant from opting out of sharing their information.

22. The system according to claim 21, further comprising means for offering incentives based on at least one factor selected from the group comprising:

the level of interest, the incentive information, and the category and sub-category where the incentive information is located.

23. The system according to claim 19, wherein the incentive information comprises at least one of:

(a) a reduction in the minimum payment;

(b) a discount on the annual credit rate; and

(c) a discount on the yearly fee.

24. The system according to claim 19, further comprising means for offering an incentive based on the incentive information and the category and sub-category where the incentive information is located.

25. The system according to claim 19, wherein the incentive information comprises degrees of discount for each of the incentives;

and

wherein means for placing incentive information comprises means for placing the incentive information for an individual incentive into at least one predetermined category or sub-category.

26. The system according to claim 19, wherein means for assigning weights to the incentive information comprises means for placing the weight associated with the incentive information for an individual incentive into at least one predetermined category or sub-category.

27. The system according to claim 21, wherein means for determining the level of interest comprises the further step of placing the level of interest information into at least one of the plurality of categories and the plurality of sub-categories using the processor.

28. The system according to claim 19, further comprising means for modifying the organizational structure based on a revision to the incentive information.

29. The system according to claim 28, wherein means for of modifying includes at least one of:

(a) adding a category;

(b) adding a sub-category;

(c) deleting a category;

(d) deleting a sub-category;

(e) merging a category; and

(f) merging a sub-category.

30. The system according to claim 24, wherein means for offering an incentive further comprises means for using a link file to direct the processor, the link file comprising a plurality of instructions directing the processor to compare the level of interest in a predetermined location in the organizational structure to the weight of an incentive in a predetermined location in the organizational structure.

31. The system according to claim 30, further comprising means for setting the monitoring value based on the placement of the opt out information into the at least one predetermined category or sub-category;

and

means for setting an internal goal value based on the placement of the opt out information into the at least one predetermined category or sub-category.

32. The system according to claim 31, further comprising means for comparing the monitoring value to the internal goal value using a link file to direct the processor, the link file comprising a plurality of instructions directing the processor to place opt out information in a predetermined location in the organizational structure.

33. The system according to claim 32, wherein means for comparing the monitoring value to the internal goal value includes changing the level of interest value.

34. The system according to claim 19, wherein means for assigning a weight to an incentive includes assigning a value based on an institution'"'"'s willingness to prevent an applicant from opting out.

35. The system according to claim 30, wherein the predetermined location in the organizational structure is determined based on the incentive information.

36. The system according to claim 30, wherein the predetermined location in the organizational structure is determined based on the opt out information.

37. A method of providing incentives for the sharing of information, said method comprising the steps of:

accepting consumer information;

storing the consumer information;

requesting permission from the consumer to share their consumer information with a third party; and

offering the consumer a selected incentive in exchange for their permission to share their consumer information.

38. The method according to claim 37, wherein the method further comprises the step of determining the level of interest in keeping the applicant from opting out of sharing their information.

39. The method according to claim 38, wherein the level of interest in keeping the applicant from opting out of sharing their information is determined by analyzing at least one factor from the group of factors comprising:

the amount of consumer information;

the detail of the consumer information;

the socioeconomic status of the consumer; and

the credit worthiness of the consumer.

40. The method of claim 39, wherein the selection of which incentive to offer to the consumer is based on the level of interest in keeping the applicant from opting out of sharing their information.

41. The method according to claim 40, wherein the incentive selected is chosen from the group comprising:

(a) a reduction in the minimum payment;

(b) a discount on the annual credit rate; and

(c) a discount on the yearly fee.