Method and apparatus for consumer interaction based on spend capacity
First Claim
1. A computer-based method of managing a consumer lifecycle in a credit-related industry, comprising:
- modeling, by a computer-based system for managing a consumer lifecycle in a credit-related industry comprising a processor and a non-transitory, tangible memory, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns, wherein the model is stored in a memory of the computer-based system;
estimating, by the computer-based system, credit-related information of an individual consumer based on tradeline data of the individual consumer, a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer;
offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information;
assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a numeric score and is a positive or a negative integer; and
determining a strategy to interact with the individual consumer based on the credit score.
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Accused Products
Abstract
Share of Wallet (“SoW”) is a modeling approach that utilizes various data sources to provide outputs that describe a consumer'"'"'s spending capability, tradeline history including balance transfers, and balance information. These outputs can be appended to data profiles of customers and prospects and can be utilized to support decisions involving prospecting, new applicant evaluation, and customer management across the lifecycle. In addition to credit card companies, SoW outputs may be useful to companies issuing, for example: private label cards, life insurance, on-line brokerages, mutual funds, car sales/leases, hospitals, and home equity lines of credit or loans. “Best customer” models can correlate SoW outputs with various customer groups. A SoW score focusing on a consumer'"'"'s spending capacity can be used in the same manner as a credit bureau score.
165 Citations
23 Claims
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1. A computer-based method of managing a consumer lifecycle in a credit-related industry, comprising:
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modeling, by a computer-based system for managing a consumer lifecycle in a credit-related industry comprising a processor and a non-transitory, tangible memory, consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns, wherein the model is stored in a memory of the computer-based system; estimating, by the computer-based system, credit-related information of an individual consumer based on tradeline data of the individual consumer, a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting, by the computer-based system, the previous balance transfers from the estimated credit-related information; assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a numeric score and is a positive or a negative integer; and determining a strategy to interact with the individual consumer based on the credit score. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. An apparatus for managing a consumer lifecycle in a credit-related industry, comprising:
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a processor; and a memory in communication with the processor, wherein the memory stores a plurality of processing instructions for directing the processor to; model consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns; estimate credit-related information of the individual consumer based on tradeline data of an individual consumer, a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offset the previous balance transfers from the estimated credit-related information; assign a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending for the individual consumer over a given time and wherein the indicator is a numeric score and is a positive or a negative integer; and determine a strategy for interacting with the individual consumer based on the credit score. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15)
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16. An article of manufacture including a non-transitory computer readable medium having instructions stored thereon that, in response to execution by a computing device, cause the computing device to perform operations comprising:
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modeling consumer spending patterns using individual consumer data and aggregate consumer data, including tradeline data, internal customer data, and consumer panel data to produce a model of consumer spending patterns; estimating credit-related information of an individual consumer based on tradeline data of the individual consumer, a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting the previous balance transfers from the estimated credit-related information; assigning a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending for the individual consumer over a given time and wherein the indicator is a numeric score and is a positive or a negative integer; and determining a strategy for interacting with the individual consumer based on the estimated credit score. - View Dependent Claims (17, 18, 19, 20, 21, 22, 23)
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Specification