MONITORING RETAIL TRANSACTIONS ASSOCIATED WITH A FINANCIAL INSTITUTION-BASED MERCHANT OFFER PROGRAM AND DETERMINING SAVINGS METRICS

• US 20110191239A1
• Filed: 01/25/2011
• Published: 08/04/2011
• Est. Priority Date: 01/29/2010
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Upton, Michael W., Blackhurst, Jason
• Granted Patent: US 8,930,265 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 30/0255 based on user history

Abstract

Embodiments of the invention provide for monitoring transactions and providing related savings metrics in association with a financial institution-based merchant offer program. Since the transaction monitoring occurs at the financial institution level, the savings metrics may include both amounts saved by accepting the merchant offers associated with the program and savings amounts lost by conducting a transaction absent a merchant offer when an applicable merchant offer was available.

Claims

1. A method for providing savings monitoring in a financial institution-based merchant offer program, the method comprising:

monitoring, via a computing device processor, merchant transactions conducted by a financial institution customer to identify one or more first merchant transactions, wherein the first merchant transactions are based on customer acceptance of first merchant offers associated with the financial institution-based merchant offer program;

determining, via a computing device processor, one or more savings metrics associated with the first customer transactions and based on savings realized from acceptance of the first merchant offers; and

providing the one or more savings metrics to the financial institution customer.

2. The method of claim 1, wherein determining further comprises determining, via the computing device processor, the one or more savings metrics, wherein one of the savings metrics is configured to be a total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a predetermined period of time.

3. The method of claim 2, wherein determining further comprises determining, via the computing device processor, the one or more savings metrics, wherein one of the savings metrics is configured to be the total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a life of the financial institution-based merchant offer program.

4. The method of claim 1, wherein determining further comprises determining, via the computing device processor, the one or more savings metrics, wherein one of the savings metrics is configured to be a per transaction savings amount.

5. The method of claim 1, wherein providing further comprises providing, via a computing device processor, the one or more savings metrics to the financial institution customer via a financial institution-based merchant offer program user interface application.

6. The method of claim 1, wherein providing further comprises providing the one or more savings metrics to the financial institution customer via a first merchant transaction receipt.

7. The method of claim 1, wherein providing further comprises providing, via a computing device processor, the one or more savings metrics to the financial institution customer via a financial institution statement.

8. The method of claim 1, wherein monitoring further comprises monitoring, via the computing device processor, the merchant transactions conducted by the financial institution customer to identify second merchant transactions, wherein one or more second merchant offers associated with the financial institution-based merchant offer program were available concurrent with the second merchant transaction, wherein the second merchant offers were associated with an item in the second merchant transactions and wherein the second merchant offers were not applied by the financial institution customer in the second merchant transactions.

9. The method of claim 8, wherein determining further comprises determining, via the computing device processor, one or more lost savings metrics associated with the second customer transactions and wherein providing further comprises providing the one or more lost savings metrics to the financial institution customer.

10. The method of claim 9, wherein determining the one or more lost savings metrics further comprises determining, via the computing device processor, the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a predetermined period of time.

11. The method of claim 10, wherein determining the one or more lost savings metrics further comprises determining, via the computing device processor, the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be the total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a life of the financial institution-based merchant offer program.

12. The method of claim 9, wherein determining the one or more lost savings metrics further comprises determining, via the computing device processor, the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a per transaction lost savings amount.

13. The method of claim 1, wherein determining further comprises determining, via the computing device processor, the one or more savings metrics, wherein one of the savings metrics is configured to be a percentage saved of a customer savings goal.

14. The method of claim 1, further comprising automatically transferring, via a computing device processor, at least a portion of savings amounts associated with the first merchant transactions from a first customer-designated account to a second customer-designated account.

15. An apparatus for providing savings monitoring in a financial institution-based merchant offer program, the apparatus including:

a computing platform including at least one processor and a memory;

a financial institution-based merchant offer program application stored in the memory, executable by the processor and configured to communicate merchant offers to financial institution customers based on authentication of the customer;

a transaction monitoring routine stored in the memory, executable by the at least one processor and configured to monitor merchant transactions to identify one or more first merchant transactions, wherein the first merchant transactions are based on customer acceptance of first merchant offers associated with the financial institution-based merchant offer program; and

a savings metric determination routine stored in the memory, executable by the processor and configured to determining one or more savings metrics associated with the first customer transactions and based on savings realized from acceptance of the first merchant offers.

16. The apparatus of claim 15, wherein the savings metric determination routine is further configured to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a predetermined period of time.

17. The apparatus of claim 16, wherein the savings metric determination routine is further configured to determine the one or more savings metrics, wherein one of the savings metrics is configured to be the total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a life of the financial institution-based merchant offer program.

18. The apparatus of claim 15, wherein the savings metric determination routine is further configured to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a per transaction savings amount.

19. The apparatus of claim 15, wherein the financial institution-based merchant offer program application further comprises a user interface routine configured to provide the one or more savings metrics to the financial institution customer.

20. The apparatus of claim 15, further comprising a transaction receipt routine stored in the memory, executable by the processor and configured to provide the one or more savings metrics to the financial institution customer via a first merchant transaction receipt.

21. The apparatus of claim 15, further comprising a network-accessible online financial institution module, stored in the memory, executable by the processor and configured to provide the one or more savings metrics to the financial institution customer via an online financial institution statement.

22. The apparatus of claim 15, wherein the transaction monitoring routine is further configured to monitor the merchant transactions conducted by the financial institution customer to identify second merchant transactions, wherein one or more second merchant offers associated with the financial institution-based merchant offer program were available concurrent with the second merchant transaction, wherein the second merchant offers were associated with an item in the second merchant transactions and wherein the second merchant offers were not applied by the financial institution customer in the second merchant transactions.

23. The apparatus of claim 22, wherein the savings metric determination routine is further configured to determine one or more lost savings metrics associated with the second customer transactions.

24. The apparatus of claim 23, wherein the savings metric determination routine is further configured to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a predetermined period of time.

25. The apparatus of claim 24, wherein the savings metric determination routine is further configured to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be the total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a life of the financial institution-based merchant offer program.

26. The apparatus of claim 25, wherein the savings metric determination routine is further configured to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a per transaction lost savings amount.

27. The apparatus of claim 15, wherein the savings metric determination routine is further configured to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a percentage saved of a customer savings goal.

28. The apparatus of claim 15, further comprising a savings transfer routine stored in the memory, executable by the processor and configured to automatically transferring at least a portion of a savings amounts associated with the first merchant transactions from a first customer-designated account to a second customer-designated account.

29. A computer program product comprising:

a computer-readable medium comprising;

a first set of codes for causing a computer to monitor merchant transactions conducted by a financial institution customer to identify one or more first merchant transactions, wherein the first merchant transactions are based on customer acceptance of first merchant offers associated with the financial institution-based merchant offer program;

a second set of codes for causing a computer to determine one or more savings metrics associated with the first customer transactions and based on savings realized from acceptance of the first merchant offers; and

a third set of codes for causing a computer to provide the one or more savings metrics to the financial institution customer.

30. The computer program product of claim 29, wherein the second set of codes is further configured to cause the computer to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a predetermined period of time.

31. The computer program product of claim 30, wherein the second set of codes is further configured to cause the computer to determine the one or more savings metrics, wherein one of the savings metrics is configured to be the total amount saved for the first merchant transactions, wherein the first merchant transactions occur over a life of the financial institution-based merchant offer program.

32. The computer program product of claim 29, wherein the second set of codes is further configured to cause the computer to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a per transaction savings amount.

33. The computer program product of claim 29, wherein the third set of codes is further configured to cause the computer to provide the one or more savings metrics to the financial institution customer via a financial institution-based merchant offer program user interface application.

34. The computer program product of claim 29, wherein the third set of codes is further configured to cause the computer to provide the one or more savings metrics to the financial institution customer via a first merchant transaction receipt.

35. The computer program product of claim 29, wherein the third set of codes is further configured to cause the computer to provide the one or more savings metrics to the financial institution customer via a financial institution statement.

36. The computer program product of claim 29, wherein the first set of codes is further configured to cause the computer to monitor the merchant transactions conducted by the financial institution customer to identify second merchant transactions, wherein one or more second merchant offers associated with the financial institution-based merchant offer program were available concurrent with the second merchant transaction, wherein the second merchant offers were associated with an item in the second merchant transactions and wherein the second merchant offers were not applied by the financial institution customer in the second merchant transactions.

37. The computer program product of claim 36, wherein the second set of codes is further configured to cause the computer to determine one or more lost savings metrics associated with the second customer transactions and wherein providing further comprises providing the one or more lost savings metrics to the financial institution customer.

38. The computer program product of claim 37, wherein the second set of codes is further configured to cause the computer to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a predetermined period of time.

39. The computer program product of claim 38, wherein the second set of codes is further configured to cause the computer to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be the total amount lost savings for the second merchant transactions, wherein the second merchant transactions occur over a life of the financial institution-based merchant offer program.

40. The computer program product of claim 37, wherein the second set of codes is further configured to cause the computer to determine the one or more lost savings metrics, wherein one of the lost savings metrics is configured to be a per transaction lost savings amount.

41. The computer program product of claim 29, wherein the second set of codes is further configured to cause the computer to determine the one or more savings metrics, wherein one of the savings metrics is configured to be a percentage saved of a customer savings goal.

42. The computer program product of claim 29, further comprising a fourth set of codes for causing a computer to automatically transfer at least a portion of savings amounts associated with the first merchant transactions from a first customer-designated account to a second customer-designated account.