SYSTEM AND METHOD FOR DYNAMIC FINANCIAL ACCOUNT MANAGEMENT
First Claim
Patent Images
1. A system for managing financial data related to an allowance account and a diversionary account for one or more users, comprising:
- a communications interface for receiving user data related to a plurality of allowance account and diversionary account designations, each allowance account designation corresponding to at least one spending related sub-account and each diversionary account designation corresponding to at least one savings related sub-account, each spending and savings related sub-account further having an associated priority rating provided by the user, at least a first of the savings related sub-accounts being linked to one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account, and a second of the savings related sub-accounts being linked to another one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account;
a data storage device configured to store the received user data related to the plurality of allowance account and diversionary account designations;
a computer processor configured to execute program instructions to;
receive, via the communications interface, data related to a third party financial transaction;
correlate the third party financial transaction data with at least one of the plurality of spending and savings related sub-accounts;
determine one or more allowance account and diversionary account rebalancing transactions based upon the correlated sub-account for the third party financial transaction and the associated priority rating of the sub-account; and
transmit data related to the one or more allowance account and diversionary account rebalancing transactions to a financial account management system for execution;
wherein responsive to the one or more allowance account and diversionary account rebalancing transactions comprising re-allocation from one of the spending related sub-accounts to the first savings related sub-account, the data transmitted to the financial account management system for execution comprising data for automated transfer of funds from a debit checking account linked to the spending related sub-account to the account linked to the first savings related sub-account.
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Accused Products
Abstract
A predictive financial data management system for efficiently and intelligently administering and managing allowance and diversionary accounts and associated sub-accounts based on third party transaction data and user defined sub-account prioritizations. The system is configured to interface with third party data to conduct the financial administration and management and rebalancing of the allowance and diversionary accounts based on input from a predictive model and historical transaction data.
32 Citations
20 Claims
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1. A system for managing financial data related to an allowance account and a diversionary account for one or more users, comprising:
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a communications interface for receiving user data related to a plurality of allowance account and diversionary account designations, each allowance account designation corresponding to at least one spending related sub-account and each diversionary account designation corresponding to at least one savings related sub-account, each spending and savings related sub-account further having an associated priority rating provided by the user, at least a first of the savings related sub-accounts being linked to one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account, and a second of the savings related sub-accounts being linked to another one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account; a data storage device configured to store the received user data related to the plurality of allowance account and diversionary account designations; a computer processor configured to execute program instructions to; receive, via the communications interface, data related to a third party financial transaction; correlate the third party financial transaction data with at least one of the plurality of spending and savings related sub-accounts; determine one or more allowance account and diversionary account rebalancing transactions based upon the correlated sub-account for the third party financial transaction and the associated priority rating of the sub-account; and transmit data related to the one or more allowance account and diversionary account rebalancing transactions to a financial account management system for execution; wherein responsive to the one or more allowance account and diversionary account rebalancing transactions comprising re-allocation from one of the spending related sub-accounts to the first savings related sub-account, the data transmitted to the financial account management system for execution comprising data for automated transfer of funds from a debit checking account linked to the spending related sub-account to the account linked to the first savings related sub-account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 9, 10, 11, 12)
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8. (canceled)
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13. A computer system for managing allowance and diversionary account financial data, comprising:
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a processor; and a memory storage device in communication with the processor; the processor configured to; receive via a computer communications network an allowance account based transaction from a third party entity; access, from the memory storage device data associated with a plurality of allowance and diversionary sub-accounts; correlate the allowance account based transaction with one or more of the plurality of allowance and diversionary sub-accounts, the data relating to the diversionary sub-accounts comprising data indicative of a first of the diversionary sub-accounts being linked to one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account, and a second of the diversionary sub-accounts being linked to another one of a bank savings account, brokerage account, mutual fund account, education savings account, retirement account, deferred annuity account during an accumulation phase, and certificate of deposit account; determine, based on the correlation, one or more re-balancing transactions for one or more of the plurality of allowance and diversionary sub-accounts; and provide an output signal containing instructions related to execution of one or more of the re-balancing transactions, the output signal including a request for one or more financial services/insurance products; wherein responsive to the one or more rebalancing transactions comprising re-allocation from one of the allowance sub-accounts to the first diversionary sub-account, the data transmitted to the financial account management system for execution comprising data for automated transfer of funds from a debit checking account linked to the allowance sub-account to the account linked to the first diversionary sub-account. - View Dependent Claims (14, 15, 16, 17)
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18. (canceled)
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19. A computer-implemented method for administering financial-related data associated with an allowance account and a diversionary account, comprising:
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receiving, via a communications interface, user data related to a plurality of allowance account and diversionary account designations, each one of the plurality of allowance account and diversionary account designations corresponding to at least one of a plurality of sub-accounts and each one of the plurality of allowance account and diversionary account designations further having an associated priority rating associated with each one of the plurality of sub-accounts; storing, via a data storage device the received user data related to the plurality of allowance and diversionary account designations; receiving, via the communications interface, data related to a third party financial transaction; storing, via a data storage device, the data related to the third party financial transaction; correlating, via a computer processor, the third party financial transaction data with at least one of the plurality of sub-accounts; determining, via the computer processor, one or more sub-account rebalancing transactions based on the correlation of the third party financial transaction data and the at least one of the plurality of sub-accounts and the priority rating associated with the at least one of the plurality of sub-accounts; receiving, via the communications interface, one or more financial product recommendations to accomplish the determined rebalancing transactions; receiving a selection of one or more financial product recommendations; and validating the selection of the one or more financial product recommendations based on user risk data and rules indicative of associations between the one or more financial products and risk data values. - View Dependent Claims (20)
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Specification