SYSTEM AND METHOD FOR SPEND PATTERN ANALYSIS AND APPLICATIONS THEREOF

• US 20120053987A1
• Filed: 09/28/2011
• Published: 03/01/2012
• Est. Priority Date: 01/21/2009
• Status: Abandoned Application

• Current Assignee: Truaxis, Inc. (MasterCard Incorporated)
• Original Assignee: Truaxis, Inc. (MasterCard Incorporated)
• Inventors: Kothari, Samir, Satyavolu, Ramakrishna, Nakshatrala, Bala Krishna
• Application Number:
  US13/247,657
• Publication Number:
  US 20120053987A1
• Time in Patent Office: Days
• US Class Current: 705/7.29
• CPC Class Codes: G06Q 30/0201 Market modelling; Market analysis; Collecting market data
• CPC Class Codes: H04M 15/00 Arrangements for metering, time-control or time indication ; Metering, charging or billing arrangements for voice wireline or wireless communications, e.g. VoIP
• CPC Class Codes: H04M 15/44 Augmented, consolidated or itemized billing statement or bill presentation
• CPC Class Codes: H04M 15/58 based on statistics of usage or network monitoring
• CPC Class Codes: H04M 15/745 Customizing according to wishes of subscriber, e.g. friends or family
• CPC Class Codes: H04M 15/80 Rating or billing plans; Tariff determination aspects
• CPC Class Codes: H04M 15/8011 using class of subscriber
• CPC Class Codes: H04M 15/8044 Least cost routing
• CPC Class Codes: H04M 15/805 Bidding
• CPC Class Codes: H04M 15/8083 involving reduced rates or discounts, e.g. time-of-day reductions or volume discounts
• CPC Class Codes: H04M 15/83 Notification aspects
• CPC Class Codes: H04M 15/84 Types of notifications
• CPC Class Codes: H04M 15/85 characterised by the type of condition triggering a notification
• CPC Class Codes: H04M 15/851 Determined tariff
• CPC Class Codes: H04M 2215/0104 Augmented, consolidated or itemised billing statement, e.g. additional billing information, bill presentation, layout, format, e-mail, fax, printout, itemised bill per service or per account, cumulative billing, consolidated billing
• CPC Class Codes: H04M 2215/0108 Customization according to wishes of subscriber, e.g. customer preferences, friends and family, selecting services or billing options, Personal Communication Systems [PCS]
• CPC Class Codes: H04M 2215/018 On-line real-time billing, able to see billing information while in communication, e.g. via the internet
• CPC Class Codes: H04M 2215/0184 involving reduced rates or discounts, e.g. time-of-day reductions, volume discounts, cell discounts, group billing, frequent calling destination(s) or user history list
• CPC Class Codes: H04M 2215/0188 Network monitoring; statistics on usage on called/calling number
• CPC Class Codes: H04M 2215/74 Rating aspects, e.g. rating parameters or tariff determination apects
• CPC Class Codes: H04M 2215/7407 : class of subscriber
• CPC Class Codes: H04M 2215/745 : Least cost routing, e.g. Automatic or manual, call by call or by preselection
• CPC Class Codes: H04M 2215/7457 : Biding
• CPC Class Codes: H04M 2215/81 : Notifying aspects, e.g. notifications or displays to the user
• CPC Class Codes: H04M 2215/8129 : Type of notification
• CPC Class Codes: H04M 2215/815 : Notification when a specific condition, service or event is met

Abstract

Systems and methods may include gathering transaction data from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user, analyzing the transaction data to determine an amount spent per a selected view type, generating a spending chart displaying the amount spent per selected view type, and displaying the spending chart in association with a statement of the user'"'"'s financial account. The amount spent may be compared to a benchmark, such as a national average, a city average, a state average, similar people as defined by either a similar spend pattern or similar demographics, and a private group.

Claims

1. A method, comprising:

gathering transaction data from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user;

analyzing the transaction data for a spend pattern;

comparing the spend pattern to the spend patterns for other users;

matching a merchant that the user will interact with based on other users with a similarity in spend patterns having interacted with the merchant; and

displaying the merchant in association with a statement of the user'"'"'s financial account.

2. The method of claim 1, wherein the statement is at least one of an online statement, an online graphical user interface associated with the user'"'"'s financial account, an online bill pay area, a dialog box associated with the user'"'"'s financial account, an ATM receipt, a teller receipt, a mobile statement, and a paper statement.

3. The method of claim 1, wherein the step of analyzing comprises extracting at least one of a merchant name, a merchant category, a merchant location, a store number, a transaction amount, a transaction frequency, a zip code, a store category, a transaction description, and a total spending amount.

4. The method of claim 1, wherein the user'"'"'s financial account is at least one of a credit card account, a bank account, a checking account, a savings account, a personal finance program account, and a loan account.

5. The method of claim 1, wherein a savings opportunity is presented in association with the merchant.

19. The method of claim 1, wherein the step of analyzing comprises extracting at least one of a merchant name, a merchant category, a merchant location, a store number, a transaction amount, a transaction frequency, a zip code, a store category, a transaction description, and a total spending amount.

6. A method, comprising:

gathering transaction data from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user;

analyzing the transaction data to determine an amount spent per merchant; and

generating a spending chart displaying the amount spent per merchant.

7. A method, comprising:

gathering transaction data from a user'"'"'s financial account, wherein the user'"'"'s financial account is a financial institution account that is maintained on behalf of the user;

analyzing the transaction data to determine an amount spent per a selected view type;

generating a spending chart displaying the amount spent per selected view type; and

displaying the spending chart in association with a statement of the user'"'"'s financial account.

8. The method of claim 7, wherein the selected view type is by merchant, by category, by week, by month, by time period, by geographical location, and by amount.

9. The method of claim 7, further comprising, sorting the data in the spending chart.

10. The method of claim 7, further comprising, setting a time period for display of the data in the spending chart.

11. The method of claim 7, further comprising, matching a merchant that the user will interact with based on other users with a similarity in amounts spent having interacted with the merchant and displaying the matched merchant in association with a statement of the user'"'"'s financial account.

12. The method of claim 7, further comprising, comparing the amount spent to a benchmark.

13. The method of claim 12, wherein the benchmark is a national average, a city average, a state average, similar people as defined by either a similar spend pattern or similar demographics, and a private group.

14. The method of claim 13, wherein similar demographics comprises a match of at least one of a gender, an age range, a household type, a number of children, a household income, and a geographic location.

15. The method of claim 13, wherein the private group is at least one of created by the user or created by another user.

16. The method of claim 13, further comprising, enabling users to share information with private group members by email or a social network.

17. The method of claim 13, wherein the spending chart is interactive, and where benchmark data are displayed in a dialog box when the user interacts with the data.

18. The method of claim 7, wherein the statement is at least one of an online statement, an online graphical user interface associated with the user'"'"'s financial account, an online bill pay area, a dialog box associated with the user'"'"'s financial account, an ATM receipt, a teller receipt, a mobile statement, and a paper statement.

20. The method of claim 7, wherein the user'"'"'s financial account is at least one of a credit card account, a bank account, a checking account, a savings account, a personal finance program account, and a loan account.