Method and apparatus for consumer interaction based on spend capacity
First Claim
1. A method of managing a consumer lifecycle in a credit-related industry, comprising:
- (a) modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
(b) estimating a spend capacity of an individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
(c) determining a strategy to interact with the consumer based on the estimated spend capacity of the consumer.
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Accused Products
Abstract
Share of Wallet (“SoW”) is a modeling approach that utilizes various data sources to provide outputs that describe a consumer'"'"'s spending capability, tradeline history including balance transfers, and balance information. These outputs can be appended to data profiles of customers and prospects and can be utilized to support decisions involving prospecting, new applicant evaluation, and customer management across the lifecycle. In addition to credit card companies, SoW outputs may be useful to companies issuing, for example: private label cards, life insurance, on-line brokerages, mutual funds, car sales/leases, hospitals, and home equity lines of credit or loans. “Best customer” models can correlate SoW outputs with various customer groups. A SoW score focusing on a consumer'"'"'s spending capacity can be used in the same manner as a credit bureau score.
357 Citations
26 Claims
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1. A method of managing a consumer lifecycle in a credit-related industry, comprising:
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(a) modeling consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
(b) estimating a spend capacity of an individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
(c) determining a strategy to interact with the consumer based on the estimated spend capacity of the consumer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8)
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9. An apparatus for managing a consumer lifecycle in a credit-related industry, comprising:
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a processor; and
a memory in communication with the processor, wherein the memory stores a plurality of processing instructions for directing the processor to;
model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data;
estimate a spend capacity of an individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
determine a strategy for interacting with the consumer based on the estimated spend capacity of the consumer. - View Dependent Claims (10, 11, 12, 13, 14, 15, 16, 17)
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18. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to manage consumer lifecycle in a credit-related industry, the control logic comprising,
first computer readable program code means for causing the computer to model consumer spending patterns using individual and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data; -
second computer readable program code means for causing the computer to estimate a spend capacity of an individual consumer based on tradeline data of the individual consumer, balance transfers of the individual consumer, and the model of consumer spending patterns; and
third computer readable program code means for causing the computer to determine a strategy for interacting with the consumer based on the estimated spend capacity of the consumer. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26)
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Specification