Method and system for offering financial products based on a customer's determined life status
First Claim
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1. A method for providing a financial product to a customer, said method comprising:
- receiving customer information from at least one source chosen from a purchase database, an application database, a call center database, an Internet database, and a public records database;
analyzing the received customer information using a filter that categorizes a customer into a life status, wherein the life status corresponds to the customer'"'"'s demographic classification;
selecting, from a set of financial products, a first financial product for the customer based on said life status using a data structure that relates each life status type to a particular financial product;
monitoring, periodically, the customer information for changes;
automatically revising, based on a change to the customer information, the customer'"'"'s life status;
selecting, from the set of financial products, a second financial product for the customer based on said revised life status using the data structure that relates each life status type to a particular financial product;
determining the creditworthiness of the customer; and
optimizing said first and second financial products based on said creditworthiness.
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Abstract
A system and method to provide financial products throughout the life of a customer. The present invention determines the life status of a customer. The life status is determined by analyzing the customer information from a variety of sources. This information is filtered or inputted into an algorithmic model to identify appropriate financial products to offer to the customer. In addition, the customer'"'"'s creditworthiness is used to determine or optimize the financial product offered to the customer.
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Citations
8 Claims
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1. A method for providing a financial product to a customer, said method comprising:
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receiving customer information from at least one source chosen from a purchase database, an application database, a call center database, an Internet database, and a public records database; analyzing the received customer information using a filter that categorizes a customer into a life status, wherein the life status corresponds to the customer'"'"'s demographic classification; selecting, from a set of financial products, a first financial product for the customer based on said life status using a data structure that relates each life status type to a particular financial product; monitoring, periodically, the customer information for changes; automatically revising, based on a change to the customer information, the customer'"'"'s life status; selecting, from the set of financial products, a second financial product for the customer based on said revised life status using the data structure that relates each life status type to a particular financial product; determining the creditworthiness of the customer; and optimizing said first and second financial products based on said creditworthiness. - View Dependent Claims (2, 3, 4, 5)
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6. A computer for providing a financial product to a customer, said computer comprising:
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a memory having program instructions; and a processor, responsive to the programming instructions, configured to; receive customer information from at least one source chosen from a purchase database, an application database, a call center database, an Internet database, and a public records database; analyze the received customer information using a filter that categorizes a customer into a life status, wherein the life status corresponds to the customer'"'"'s demographic classification; select, from a set of financial products, a first financial product for the customer based on said life status using a data structure that relates each life status type to a particular financial product; monitor, periodically, the customer information for changes; automatically revise, based on changes to the customer information, the customer'"'"'s life status; and select, from the set of financial products, a second financial product for the customer based on said revised life status using the data structure that relates each life status type to a particular financial product; determine the creditworthiness of the customer; and optimize said first and second financial products based on said creditworthiness. - View Dependent Claims (7, 8)
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Specification