Method and system for offering financial products based on a customer's determined life status

• US 8,108,275 B2
• Filed: 06/18/2001
• Issued: 01/31/2012
• Est. Priority Date: 06/18/2001
• Status: Active Grant

• Current Assignee: Capital One Services LLC (Capital One Financial Corporation)
• Original Assignee: Capital One Financial Corporation
• Inventors: Lubking, Colleen C., Henneberger, John N., Mason, Frederick Joel Jr., Paslaski, George W. Jr., Muthusubramanian, Sharada, Donohue, Brian
• Primary Examiner(s): MILEF, ELDA G
• Application Number:
  US09/882,304
• Publication Number:
  US 20030046208A1
• Time in Patent Office: 3,879 Days
• Field of Search: None
• US Class Current: 705/35
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

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.

Claims

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.

2. A method for providing a financial product to a customer according to claim 1, further comprising:

offering said first and second financial products to said customer.

3. A method for providing a financial product to a customer according to claim 1, wherein selecting said first and second financial products further comprises:

including the customer'"'"'s creditworthiness as a factor in the selection of said first and second financial products.

4. A method for providing a financial product to a customer according to claim 1, further comprising:

periodically receiving said customer information.

5. A method for providing a financial product to a customer according to claim 1, wherein the data structure comprises a matrix or algorithm.

6. A computer for providing a financial product to a customer, said computer comprising:

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.

7. A computer for providing a financial product to a customer according to claim 6, wherein said processor is further configured to:

offer said first and second financial products to said customer.

8. A computer for providing a financial product to a customer according to claim 6, wherein the data structure comprises a matrix or algorithm.