Personalized Budgets for Financial Services

• US 20140149288A1
• Filed: 11/19/2013
• Published: 05/29/2014
• Est. Priority Date: 11/23/2012
• Status: Active Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Martini, Dianne Rodor, Ciotto dos Santos, Karina
• Application Number:
  US14/083,506
• Publication Number:
  US 20140149288A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06Q 20/389 Keeping log of transactions for guaranteeing non-repudiation of a transaction
• CPC Class Codes: G06Q 20/401 Transaction verification
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

An illustrative embodiment of a computer-implemented process for personalized financial budget tracking receives a request for a user purchase transaction, wherein the user purchase transaction is one of a purchase transaction and a payment transaction and responsive to a determination of a payment method, determines whether the user purchase transaction is authorized. Responsive to a determination the user purchase transaction is authorized, the computer-implemented process determines whether personalized expense categories are activated and responsive to a determination the personalized expense categories are activated, prompts for a category code. Responsive to receiving the category code, the computer-implemented process tracks expenses using a personalization category code received, wherein the personalization category code received is associated with the user purchase transaction.

Claims

1. A computer-implemented process for personalized financial budget tracking, the computer-implemented process comprising:

receiving a request for a user purchase transaction, wherein the user purchase transaction is one of a purchase transaction and a payment transaction;

determining a payment method used for the request;

responsive to a determination of a payment method, determining whether the user purchase transaction is authorized;

responsive to a determination the user purchase transaction is authorized, determining whether personalized expense categories are activated;

responsive to a determination the personalized expense categories are activated, prompting for a category code; and

responsive to receiving the category code, tracking expenses using a personalization category code received, wherein the personalization category code received is associated with the user purchase transaction.

2. The computer-implemented process of claim 1 wherein responsive to a determination the user purchase transaction is not authorized, determining whether an alert is created, wherein the user purchase transaction comprises one of a debit transaction, a cash transaction, a credit transaction and a check transaction.

3. The computer-implemented process of claim 1 wherein tracking expenses using a personalization category code associated with the user purchase transaction further comprises:

receiving a personalization category code associated with the user purchase transaction, wherein the personalization category code is an alphanumeric code assigned by a user.

4. The computer-implemented process of claim 1 further comprising:

generating a report, wherein the report comprises at least one expense associated with a personalization category code associated with the user purchase transaction.

5. The computer-implemented process of claim 1 wherein tracking expenses using a personalization category code associated with the user purchase transaction further comprises:

determining whether an alert is created; and

responsive to a determination the alert is created, sending the alert to the user using the alert settings associated with the user and saved in a personalization repository.

6. The computer-implemented process of claim 5 wherein determining whether the alert is created further comprises:

assigning a budget amount to a category in a set of personalized expense categories;

assigning an alert threshold to a selected category in the set of personalized expense categories;

assigning a messaging preference for the alert for the selected category in the set of personalized expense categories; and

determining whether expenditure exceeds the alert threshold for the budget amount assigned to the selected category in the set of personalized expense categories.

7. The computer-implemented process of claim 1 further comprises:

responsive to a determination the personalized expense categories are not activated, tracking expenses using bank predefined categories.

13. The computer program product of claim 85 wherein computer executable program code for determining whether the alert is created further comprises:

computer executable program code for assigning a budget amount to a category in a set of personalized expense categories;

computer executable program code for assigning an alert threshold to a selected category in the set of personalized expense categories;

computer executable program code for assigning a messaging preference for the alert for the selected category in the set of personalized expense categories; and

computer executable program code for determining whether expenditure exceeds the alert threshold for the budget amount assigned to the selected category in the set of personalized expense categories.

8. A computer program product for personalized financial budget tracking, the computer program product comprising:

a computer recordable-type media containing computer executable program code stored thereon, the computer executable program code comprising;

computer executable program code for receiving a request for a user purchase transaction, wherein the user purchase transaction is one of a purchase transaction and a payment transaction;

computer executable program code for determining a payment method used for the request;

computer executable program code responsive to determining a payment method, for determining whether the user purchase transaction is authorized;

computer executable program code responsive to a determination the user purchase transaction is authorized for determining whether personalized expense categories are activated;

computer executable program code responsive to a determination the personalized expense categories are activated, for prompting for a category code; and

computer executable program code responsive to receiving the category code, tracking expenses using a personalization category code received, wherein the personalization category code received is associated with the user purchase transaction.

9. The computer program product of claim 8 wherein computer executable program code responsive to a determination the user purchase transaction is not authorized, comprises computer executable program code for determining whether an alert is created, wherein the user purchase transaction comprises one of a debit transaction, a cash transaction, a credit transaction and a check transaction.

10. The computer program product of claim 8 wherein computer executable program code for tracking expenses using a personalization category code associated with the user purchase transaction further comprises:

computer executable program code for receiving a personalization category code associated with the user purchase transaction, wherein the personalization category code is an alphanumeric code assigned by a user.

11. The computer program product of claim 8 further comprising:

computer executable program code for generating a report, wherein the report comprises at least one expense associated with a personalization category code associated with the user purchase transaction.

12. The computer program product of claim 8 wherein computer executable program code for tracking expenses using a personalization category code associated with the user purchase transaction further comprises:

computer executable program code for determining whether an alert is created; and

computer executable program code responsive to a determination the alert is created, for sending the alert to the user using alert settings associated with the user and saved in a personalization repository.

14. The computer program product of claim 8 further comprising:

computer executable program code responsive to a determination the personalized expense categories are not activated, for tracking expenses using bank-predefined categories.

15. An apparatus for personalized financial budget tracking, the apparatus comprising:

a communications fabric;

a memory connected to the communications fabric, wherein the memory contains computer executable program code;

a communications unit connected to the communications fabric;

an input/output unit connected to the communications fabric;

a display connected to the communications fabric; and

a processor unit connected to the communications fabric, wherein the processor unit executes the computer executable program code to direct the apparatus to;

receive a request for a user purchase transaction, wherein the user purchase transaction is one of a purchase transaction and a payment transaction;

determine a payment method used for the request;

responsive to determining a payment method, determine whether the user purchase transaction is authorized;

responsive to a determination the user purchase transaction is authorized, determine whether personalized expense categories are activated;

responsive to a determination the personalized expense categories are activated;

prompt for a category code; and

responsive to receiving the category code, tracking expenses using a personalization category code, wherein the personalization category code received is associated with the user purchase transaction.

16. The apparatus of claim 15 wherein the processor unit executes the computer executable program code responsive to a determination the user purchase transaction is not authorized, to direct the apparatus to determine whether an alert is created, wherein the user purchase transaction comprises one of a debit transaction, a cash transaction, a credit transaction and a check transaction.

17. The apparatus of claim 15 wherein the processor unit executes the computer executable program code to track expenses using a personalization category code associated with the user purchase transaction further directs the apparatus to:

receive a personalization category code associated with the user purchase transaction, wherein the personalization category code is an alphanumeric code assigned by a user.

18. The apparatus of claim 15 wherein the processor unit executes the computer executable program code to generate a report, wherein the report comprises at least one expense associated with a personalization category code associated with the user purchase transaction.

19. The apparatus of claim 15 wherein the processor unit executes the computer executable program code to track expenses using a personalization category code associated with the user purchase transaction further directs the apparatus to:

determine whether an alert is created; and

responsive to a determination the alert is created, send the alert to the user using the alert settings associated with the user and saved in a personalization repository.

20. The apparatus of claim 19 wherein the processor unit executes the computer executable program code to determine whether the alert is created further directs the apparatus to:

assign a budget amount to a category in a set of personalized expense categories;

assign an alert threshold to a selected category in the set of personalized expense categories;

assign a messaging preference for the alert for the selected category in the set of personalized expense categories; and

determine whether expenditure exceeds the alert threshold for the budget amount assigned to the selected category in the set of personalized expense categories.