Automated Financial Institution Customer Reward Program

• US 20110093325A1
• Filed: 10/21/2009
• Published: 04/21/2011
• Est. Priority Date: 10/21/2009
• Status: Abandoned Application

• Current Assignee: Tellermetrix Incorporated
• Original Assignee: Tellermetrix Incorporated
• Inventors: Napolitano, Anthony A., Kelsky, Richard B.
• Application Number:
  US12/603,269
• Publication Number:
  US 20110093325A1
• Time in Patent Office: Days
• US Class Current: 705/14.33
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward

Abstract

A method and system for automating a reward program for a financial institution is provided. Accordingly, information about a customer transaction is received by a system and an affinity-point value of the transaction item is determined and associated with the transaction item. An affinity-point balance associated with the customer is determined and one or more rewards that are available to the customer are determined. A notification concerning a particular reward for which the customer is eligible is displayed. Multiple reward programs can be operated simultaneously and customers can participate in multiple reward programs. Thus, after determining an affinity-point balance, a list of rewards available to the customer can be determined from multiple reward programs and the list of rewards can be sorted based on associated affinity-point value and based on a prioritization of the various reward programs.

Claims

1. A computer implemented method of automating a financial institution reward program comprising:

receiving information regarding a transaction for a customer;

determining an affinity-point value of the transaction based on the received information;

determining an affinity-point balance associated with the customer based at least on the affinity-point value of the financial transaction;

determining at least one reward available to the customer; and

displaying a notification concerning a particular reward of the at least one reward for which the customer is eligible based on the affinity-point balance.

2. The method of claim 1, wherein a plurality of rewards are determined to be available to the customer, further comprising sorting the plurality of rewards based at least on affinity-point value associated with each of the rewards, wherein the notification concerning a particular reward concerns a first reward of the sorted plurality of rewards.

3. The method of claim 2, wherein the plurality of rewards is sorted further based on an assigned prioritization of the plurality of reward programs.

4. The method of claim 2, wherein the plurality of rewards comprises rewards selected from a plurality of reward programs.

5. The method of claim 4, wherein at least one of the plurality of reward programs is an iterative reward program.

6. The method of claim 4, wherein at least one of the plurality of reward programs is a cumulative reward program.

7. The method of claim 2, wherein the plurality of rewards is further sorted based on an assigned prioritization of the plurality of rewards.

8. The method of claim 1, further comprising:

distributing the at least one reward to the customer; and

reducing the affinity-point balance by an affinity-point value associated with the at least one reward,

wherein the notification concerns the distribution of the at least one reward.

9. The method of claim 1, further comprising:

determining an iterative reward criteria has been satisfied; and

automatically distributing at least one iterative reward in response to the determination that the iterative reward criteria has been satisfied.

10. The method of claim 1, wherein determining the affinity-point value of the transaction is further based on customer associated information.

11. The method of claim 1, wherein the information received regarding the transaction concerns a transaction between the customer and a third party.

12. The method of claim 1, wherein the information received includes an identifier on a coupon issued as part of the financial institution reward program at one or more of the financial institution and a third party.

13. The method of claim 12, wherein determining the affinity-point value of the transaction is further based on the identifier.

14. The method of claim 1, wherein the at least one reward includes a customer status.

15. The method of claim 1, wherein the affinity-point balance is further based at least on a previous affinity-point balance.

16. A system for automating a financial institution reward program comprising:

means for receiving information regarding a transaction for a customer;

means for determining an affinity-point value of the transaction based on the received information;

means for determining an affinity-point balance associated with the customer based at least on the affinity-point value of the financial transaction;

means for determining at least one reward available to the customer; and

means for displaying a notification concerning a particular reward of the at least one reward for which the customer is eligible based on the affinity-point balance.

17. The system of claim 16, wherein a plurality of rewards are determined to be available to the customer, further comprising means for sorting the plurality of rewards based at least on affinity-point value associated with each of the rewards, wherein the notification concerning a particular reward concerns a first reward of the sorted plurality of rewards.

18. The system of claim 17, further comprising means for sorting the plurality of rewards based on an assigned prioritization of the plurality of reward programs.

19. The system of claim 17, wherein the plurality of rewards comprises rewards selected from a plurality of reward programs.

20. The system of claim 19, wherein at least one of the plurality of reward programs is an iterative reward program.

22. The system of claim 18, further comprising means for sorting the plurality of rewards based on an assigned prioritization of the plurality of rewards.

23. The system of claim 17, further comprising:

means for distributing the at least one reward to the customer; and

means for reducing the affinity-point balance by an affinity-point value associated with the at least one reward,

wherein the notification concerns the distribution of the at least one reward.

24. The system of claim 17, further comprising:

means for determining an iterative reward criteria has been satisfied; and

means for automatically distributing at least one iterative reward in response to the determination that the iterative reward criteria has been satisfied.

25. The system of claim 17, wherein the means for determining the affinity-point value of the transaction is further based on customer associated information.

26. The system of claim 17, wherein the information received regarding the transaction concerns a transaction between the customer and a third party.

27. The system of claim 17, wherein the information received includes an identifier on a coupon issued as part of the financial institution reward program for use at one or more of the financial institution and a third party entity.

28. The system of claim 27, wherein the means for determining the affinity-point value of the transaction is further based on the identifier.

29. The system of claim 16, wherein the at least one reward includes a customer status.

30. The system of claim 16, wherein the affinity-point balance is further based at least on a previous affinity-point balance.

21. The system of claim 21, wherein at least one of the plurality of reward programs is a cumulative reward program.

31. A system for establishing a financial institution reward program comprising:

an event definition module configured to associate events with affinity based on at least one filter;

a program definition module configured to associate affinity-points with a customer based on occurrence of an event and the associations of the event definition module;

a reward module configured to associated rewards with affinity-points; and

a redemption module configured distribute rewards based on affinity-points and reward-redemption criteria.

32. The system of claim 31, wherein the events include at least one of check cashing, payday lending, banking transactions, and money service business transactions.

33. The system of claim 31, wherein the events include point-of-sale transactions at a third party.

34. The system of claim 31, wherein the at least one filter is based on meta-data concerning a customer transaction.

35. The system of claim 31, wherein each event is one of a system event and a data event, the system event comprising at least one of an anniversary, an initial customer setup, a holiday, a designated date range, and a milestone transaction, the data event comprising customer meta-data associated with an affinity-point value.