Predictive Authorization Techniques
First Claim
1. A method of processing a transaction, the method comprising:
- receiving an authorization request for the transaction over a financial network, the authorization request including account information and transaction information specifying at least a transaction amount;
identifying a financial account from the account information;
analyzing a history of the financial account to generate a prediction of a balance of the financial account at a specified future time;
determining that the balance of the financial account at the specified future time will support the transaction for the transaction amount; and
generating an approval response to the authorization request.
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Accused Products
Abstract
Methods and systems are provided for processing a transaction. An authorization request for the transaction is received over a financial network. The authorization request includes account information and transaction information specifying at least a transaction amount. A financial account is identified from the account information. A history of the financial account is analyzed to generate a prediction of a balance of the financial account at a specified future time. It is determined that the balance of the financial account at the specified future time will support the transaction for the transaction amount. An approval response is accordingly generated for the transaction.
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Citations
29 Claims
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1. A method of processing a transaction, the method comprising:
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receiving an authorization request for the transaction over a financial network, the authorization request including account information and transaction information specifying at least a transaction amount;
identifying a financial account from the account information;
analyzing a history of the financial account to generate a prediction of a balance of the financial account at a specified future time;
determining that the balance of the financial account at the specified future time will support the transaction for the transaction amount; and
generating an approval response to the authorization request. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A transaction processing system comprising:
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a communications device;
a processor;
a storage device; and
a memory coupled with the processor, the memory comprising a computer-readable medium having a computer-readable program embodied therein for directing operation of the processing system to process a transaction, the computer-readable program including;
instructions for receiving, with the communications device over a financial network, an authorization request for the transaction, the authorization request including account information and transaction information specifying at least a transaction amount. instructions for identifying, with the processor, a financial account from the account information;
instructions for analyzing, with the processor, a history of the financial account maintained on the storage device to generate a prediction of a balance of the financial account at a specified future time;
instructions for determining, with the processor, that the balance of the financial account at the specified future time will support the transaction for the transaction amount; and
instructions for generating, with the processor, an approval response to the authorization request. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23)
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24. A method for taking an action with respect to a financial object, the method comprising:
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generating a model of at least one characteristic of the financial object over time from historical information of the financial object;
receiving input data defining a potential action to be taken with the financial object;
determining a future state of the characteristic of the financial object using the generated model;
determining an effect of the potential action by applying the input data to the determined future state of the characteristic of the financial object; and
deciding whether to take the potential action in accordance with the determined effect of the potential action. - View Dependent Claims (25, 26, 27, 28, 29)
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Specification