PROVIDING VALUE EXCHANGE IN CONNECTION WITH FINANCIAL INSTITUTION RECOMMENDATIONS OFFERS

• US 20110178909A1
• Filed: 03/01/2011
• Published: 07/21/2011
• Est. Priority Date: 01/26/2009
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Ellis, Eric E., Benefield, Stefani R.
• Granted Patent: US 8,706,590 B2
• Time in Patent Office: Days
• US Class Current: 705/35
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Systems, methods, and computer program products are provided for presenting value exchange in conjunction with financial solution recommendations or offers. The value component, is not limited to monetary value but may, in specific embodiments, also include, convenience value, emotional value or the like. The value component allows the customer to make informed decisions on which financial solution recommendations or offers to select. Further, the value component may be uniquely and dynamically customized (i.e., determined on-the-fly) for the customer based on inputs received from the customer and/or customer profile data. In addition, the value component may reflect average value realized for the demographic group applicable to the customer.

Claims

1. A method for providing value exchange in conjunction with financial solution recommendations, the method comprising:

receiving, via a computing device, one or more inputs that each define criteria for recommending financial solutions;

determining, via a computing device processor, one or more financial solution recommendations based on inputs received; and

providing, via a user interface associated with the computing device, the one or more financial solution recommendations and at least one value component associated with the one or more financial solution recommendations.

2. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, a value component that is associated with all of the one or more financial solution recommendations.

3. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, one or more value components, wherein each value component is associated with a corresponding financial solution recommendation.

4. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, at least one monetary value component associated with the one or more financial solution recommendations.

5. The method of claim 4, further comprising determining, via a computing device processor, the monetary value component in real-time or near-real-time to receiving an input.

6. The method of claim 4, further comprising determining, via a computing device processor, the monetary value component based on demographic data.

7. The method of claim 4, further comprising determining, via a computing device processor, the monetary value component based on the inputs.

8. The method of claim 7, wherein determining further comprises determining, via the computing device processor, the monetary value component based on the inputs, wherein the inputs are received as a result of one or more queries.

9. The method of claim 7, wherein determining further comprises determining, via the computing device processor, the monetary value component based on the inputs, wherein the inputs are received from a customer database.

10. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, at least one convenience value component associated with the one or more financial solution recommendations.

11. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, at least one emotional value component associated with the one or more financial solution recommendations.

12. The method of claim 1, wherein providing further comprises providing, via the user interface associated with the computing device, at least one social value component associated with the one or more financial solution recommendations.

13. An apparatus for providing value exchange in connection with financial solution recommendations, the apparatus comprising:

a computing platform having at least one processor and a memory in communication with the processor, and

a financial solution recommendation module stored in the memory, executable by the processor, and configured to receive one or more inputs that each define criteria for recommending financial solutions, determine one or more financial solution recommendations based on inputs received and provide the one or more financial solution recommendations and at least one value component associated with the one or more financial solution recommendations.

14. The apparatus of claim 13, wherein the module is further configured to provide a value component that is associated with all of the one or more financial solution recommendations.

15. The apparatus of claim 13, wherein the module is further configured to provide one or more value components, wherein each value component is associated with a corresponding financial solution recommendation.

16. The apparatus of claim 13, wherein the module is further configured to provide at least one monetary value component associated with the one or more financial solution recommendations.

17. The apparatus of claim 16, wherein the module is further configured to determine the monetary value component in real-time or near-real-time to receiving an input.

18. The apparatus of claim 16, wherein the module is further configured to determine the monetary value component based on demographic data

19. The apparatus of claim 16, wherein the module is further configured to determine the monetary value component based on the inputs.

20. The apparatus of claim 16, wherein the module is further configured to determine the monetary value component based on the inputs, wherein the inputs are received as a result of one or more queries.

21. The apparatus of claim 16, wherein the module is further configured to determine the monetary value component based on the inputs, wherein the inputs are received from a customer database.

22. The apparatus of claim 13, wherein the module is further configured to provide at least one convenience value component associated with the one or more financial solution recommendations.

23. The apparatus of claim 13, wherein the module is further configured to provide at least one emotional value component associated with the one or more financial solution recommendations.

24. The apparatus of claim 13, wherein the module is further configured to provide at least one social value component associated with the one or more financial solution recommendations.

25. A computer program product, comprising:

a non-transitory computer-readable medium comprising;

a first set of codes for causing a computer to receive one or more inputs that each define criteria for recommending financial solutions;

a second set of codes for causing a computer to determine one or more financial solution recommendations based on inputs received; and

a third set of codes for causing a computer to provide, via a user interface, the one or more financial solution recommendations and at least one value component associated with the one or more financial solution recommendations.

26. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide a value component that is associated with all of the one or more financial solution recommendations.

27. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide one or more value components, wherein each value component is associated with a corresponding financial solution recommendation.

28. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide at least one monetary value component associated with the one or more financial solution recommendations.

29. The computer program product of claim 28, further comprising a fourth set of codes for causing a computer to determine the monetary value component in real-time or near-real-time to receiving an input.

30. The computer program product of claim 28, further comprising a fourth set of codes for causing a computer to determine the monetary value component based on demographic data.

31. The computer program product of claim 28, further comprising a fourth set of codes for causing a computer to determine the monetary value component based on the inputs.

32. The computer program product of claim 31, wherein the fourth set of codes is further configured to cause the computer to determine the monetary value component based on the inputs, wherein the inputs are received as a result of one or more queries.

33. The computer program product of claim 31, wherein the fourth set of codes is further configured to cause the computer to determine the monetary value component based on the inputs, wherein the inputs are received from a customer database.

34. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide at least one convenience value component associated with the one or more financial solution recommendations.

35. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide at least one emotional value component associated with the one or more financial solution recommendations.

36. The computer program product of claim 25, wherein the third set of codes is further configured to cause the computer to provide at least one social value component associated with the one or more financial solution recommendations.

37. A method for providing a financial solution offer and value component to a customer, the method comprising:

providing, via a user interface associated with a computing device, a financial solution offer; and

providing, via the user interface, a value component associated with the financial solution offer.

38. The method of claim 37, wherein providing the value component further comprises providing, via the user interface, the value component, wherein the value component is a monetary value component.

39. The method of claim 38, further comprising determining, via a computing device processor, the monetary value component based on demographic data associated with the customer.

40. The method of claim 38, further comprising:

receiving, via the computing device, one or more inputs from the customer in response to customer queries; and

determining, via a computing device processor, the monetary value component based on the inputs.

41. The method of claim 38, further comprising:

receiving, via the computing device, one or more inputs from a database profile associated with the customer; and

determining, via a computing device processor, the monetary value component based on the inputs.

42. The method of claim 37, wherein providing the value component further comprises providing, via the user interface, the value component, wherein the value component is a convenience value component.

43. The method of claim 37, wherein providing the value component further comprises providing, via the user interface, the value component, wherein the value component is an emotional value component.

44. The method of claim 37, wherein providing the value component further comprises providing, via the user interface, the value component, wherein the value component is a social value component.

45. An apparatus for providing value exchange in connection with financial solution offers, the apparatus comprising:

a computing platform having at least one processor and a memory in communication with the processor, and

a financial solution offer module stored in the memory, executable by the processor, and configured to provide, via a user interface, a financial solution offer and a value component associated with the financial solution offer.

46. The apparatus of claim 45, wherein the module is further configured to provide the value component, wherein the value component is a monetary value component.

47. The apparatus of claim 46, wherein the module is further configured to determine the monetary value component based on demographic data associated with the customer.

48. The apparatus of claim 47, wherein the module is further configured to receive one or more inputs from the customer in response to customer queries, and determine the monetary value component based on the inputs.

49. The apparatus of claim 47, wherein the module is further configured to receive one or more inputs from a database profile associated with the customer, and determine the monetary value component based on the inputs.

50. The apparatus of claim 45, wherein the module is further configured to provide the value component, wherein the value component is a convenience value component.

51. The apparatus of claim 45, wherein the module is further configured to provide the value component, wherein the value component is an emotional value component.

52. The apparatus of claim 45, wherein the module is further configured to provide the value component, wherein the value component is a social value component.