Method and apparatus for determining credit characteristics of a consumer
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 credit-related characteristic 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) outputting the credit-related characteristic of the individual 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 consumers 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. The outputs include the size of the consumer'"'"'s spending wallet over a particular time period, the total number of the consumer'"'"'s revolving cards, the consumer'"'"'s revolving balance, the consumer'"'"'s average pay-down percentage for revolving cards, total number of the consumer'"'"'s transacting cards, the consumer'"'"'s transacting balance, a number of balance transfers transacted by the consumer, the total amount of the consumer'"'"'s balance transfers, the consumer'"'"'s maximum revolving balance, the consumer'"'"'s maximum transacting balance, the consumer'"'"'s credit limit, size of the consumer'"'"'s revolving spending, and the size of the consumer'"'"'s transacting spending.
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Citations
39 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 credit-related characteristic 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) outputting the credit-related characteristic of the individual consumer. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13)
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14. 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 credit-related characteristic 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
output the credit-related characteristic of the individual consumer. - View Dependent Claims (15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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27. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to manage a consumer lifecycle in a credit-related industry, the control logic comprising:
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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 credit-related characteristic 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 output the credit-related characteristic of the individual consumer. - View Dependent Claims (28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39)
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Specification