System and method for data management and financial transaction categorization

• US 8,170,932 B1
• Filed: 11/26/2008
• Issued: 05/01/2012
• Est. Priority Date: 11/28/2007
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Kolling, Pearl, Mackouse, Jack, Rhein, Kevin, Hoople, Elizabeth, Yee, Kathy, Krakowiecki, Matthew
• Primary Examiner(s): ADE, OGER GARCIA
• Application Number:
  US12/324,581
• Time in Patent Office: 1,252 Days
• Field of Search: 705/30
• US Class Current: 705/30
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A transaction management system includes a database system configured to receive and store data for a plurality of financial transactions, the data for the plurality of financial transactions being associated with a plurality of financial accounts of a user. The system further includes a server system coupled to the database system and configured to categorize the plurality of financial transactions into a plurality of categories, the categories including merchant categories and payment method categories, the server system being further configured to provide a plurality of user interfaces to the user, each user interface providing a display of a different portion of the plurality of financial transactions, each user interface configured to enable a user to select a link configured to direct the user to an image of a check associated with one of the plurality of financial transactions; and categorize the financial transaction into a one of the merchant categories.

Claims

1. A computer-implemented transaction management system, the system comprising:

a processor and program logic stored in memory and executable by the processor, the program logic comprising;

account management logic configured to manage bank accounts respectively associated with a plurality of account holders at a bank, the account management logic configured to process transactions for the bank accounts, the transactions including credit card transactions and check transactions;

interface logic configured to connect the transaction management system to computer systems associated with the plurality of account holders by way of an Internet, the interface logic providing the plurality of account holders with web access to an on-line banking area of the bank, the interface logic further configured to

provide a display of a plurality of categories including merchant categories and payment method categories via the on-line banking area of the bank, wherein the transactions are categorized into the plurality of categories;

provide a first link via the on-line banking area of the bank, the first link being selectable to enable an account holder to categorize at least one of the transactions; and

provide the account holder with at least one second link via the on-line banking area of the bank, the at least one second link being selectable to direct the account holder to financial tools available through the on line banking area of the_bank, the at least one second link being selected for display by the interface logic from a plurality of available links based on at least one customization criteria.

2. The system of claim 1, wherein the at least one customization criteria is associated with the bank and the account holder.

3. The system of claim 2, wherein the at least one customization criteria includes whether the account holder has an active spending plan with the bank, and the selectable link directs the account holder to a user interface configured to enable the account holder to set up a spending plan.

4. The system of claim 2, wherein the at least one customization criteria includes whether the account holder typically has a positive total monthly cash flow, and the selectable link directs the account holder to a user interface configured to provide the account holder with options regarding investment of any surplus cash flow.

5. The system of claim 2, wherein the at least one customization criteria includes whether the account holder has an active budget plan with the bank, and the selectable link directs the account holder to a user interface configured to enable the account holder to set up a budget plan.

6. The system of claim 1, wherein the additional data is provided via a web page.

7. The system of claim 1, wherein the additional data is associated with the transactions.

8. A method of managing financial data, comprising:

managing bank accounts respectively associated with a plurality of account holders for a bank, including processing transactions for the bank accounts, the transactions including at least credit card transactions and checking transactions;

storing data for the transactions in a computer-implemented storage device provided by the bank;

categorizing the transactions into a plurality of categories based on the data, the plurality of categories including at least merchant categories and payment method categories;

establishing a connection with one of the account holders via the Internet, including providing the account holder with web access to an on-line banking area of a website of the bank;

providing a first display of at least a portion of the plurality of categories to the account holder via the on-line banking area of the website of the bank, wherein for each displayed category, the first display includes a category description, a current cash flow amount, and an average cash flow amount calculated over a time period, the time period being configurable by the account holder, wherein the first display is customizable by the account holder to define the portion of the plurality of categories to be displayed;

receiving a first input from the account holder via the on-line banking area of the website of the bank;

responsive to the first input, providing a second display of a check image associated with one of the transactions via the on-line banking area of the website of the bank;

receiving a second input from the account holder via the on-line banking area of the website of the bank categorizing the transaction into one of the merchant categories; and

responsive to the second input, updating the first display to reflect the categorization of the transaction.

9. The method of claim 8, further comprising:

providing a third display of transaction categories categorized by payment method category; and

receiving the first and second input via selectable links provided with the third display.

10. The method of claim 8, further comprising:

providing a third display associated with a single one of the merchant categories, the third display including transactions categorized within the merchant category; and

receiving the first and second inputs via selectable links provided with the third display.

11. The method of claim 8, further comprising:

providing a third display associated with a single one of the transactions; and

receiving the first and second inputs via selectable links provided within the third display.

12. The method of claim 8, further comprising categorizing additional ones of the transactions based on the categorization of the transaction.

13. The method of claim 8, further comprising categorizing future transactions based on the categorization of the transaction.

14. A computer-implemented transaction management system, the system comprising a processor and program logic stored in memory and executable by the processor, the program logic comprising:

a database system provided by a bank;

at least one server provided by the bank and coupled to the database system, the at least one server configured to

manage bank accounts respectively associated with a plurality of account holders at the bank, including processing transactions for the bank accounts, the transactions including credit card transactions and check transactions;

connect the transaction management system to computer systems associated with the plurality of account holders by way of the Internet, including providing the plurality of account holders with web access to an on-line banking area of the bank;

provide a display of information associated with the transactions of one of the account holders to the account holder via the on-line banking area of the bank, the display including

for each transaction, an indication of a date for the transaction, a description for the transaction, a payment method for the transaction, an amount for the transaction, and a category for the transaction, wherein the category is one of a plurality of categories including merchant categories and payment method categories;

a menu of selectable options that enable the account holder to categorize each of the transactions into one of the categories by selecting one of the options, each of the options being associated with one of the categories; and

a link selectable to enable the account holder to view an image of a check;

provide an image of the check to the user upon receiving a selection of the link from the user;

receive a selection of one of the menu options categorizing one of the transactions;

categorize the transaction in accordance with the selection of one of the menu options, including updating the display of information to reflect the categorization; and

store the categorization of the transaction in the database system, including associating the transaction with the selected category.