Interactive account management system and method

• US 8,321,310 B1
• Filed: 03/26/2012
• Issued: 11/27/2012
• Est. Priority Date: 12/07/2007
• Status: Active Grant

• Current Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Original Assignee: JP Morgan Chase Bank, N.A. (JP Morgan Chase & Co)
• Inventors: Field, Manning, Keld, Marcia M.
• Primary Examiner(s): Gart, Matthew S
• Assistant Examiner(s): Goyea, Olusegun
• Application Number:
  US13/430,030
• Time in Patent Office: 246 Days
• Field of Search: 705/30, 705/35, 705/39, 705/41, 705/36.R, 705/37, 705/38, 715/751, 709/203, 709/204
• US Class Current: 705/30
• CPC Class Codes: G06F 16/284 Relational databases
• CPC Class Codes: G06F 3/0482 Interaction with lists of selectable items, e.g. menus
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/02 involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/14 specially adapted for billing systems
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/10 Tax strategies
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: H04L 9/40 Network security protocols

Abstract

Embodiments of the invention are directed to a computer-implemented interactive account management system operated in cooperation with a financial institution on behalf of multiple account holders. The interactive account management system may include a financial networking engine implemented by a processor for defining a financial network for each account holder and for identifying each member of an account holder financial network based on stored account information and account holder input. The system may additionally include interactive processing components for processing information to provide collaborative interaction between the members of the account holder financial network defined by the financial networking engine and user interface presentation tools for displaying financial guidance and collaborative interaction interfaces and inviting active participation from the financial network members.

Claims

1. A computer-implemented interactive account management system operated in cooperation with a financial institution on behalf of multiple account holders, the interactive account management system comprising:

at least one processor and at least one storage medium adapted to implement the following components;

a financial networking engine implemented by a processor for defining a financial network for an account holder, the financial network comprising one or more financial accounts and two or more members including the account holder and at least one co-account holder, and for identifying the financial accounts and members of the financial network based on stored account information and/or user input, wherein at least two members of the financial network share access to at least one financial account in the financial network;

interactive processing components for processing information to provide interaction between the members of the financial network defined by the financial networking engine; and

user interface presentation tools for displaying interaction interfaces and facilitating participation from the financial network members as determined by the financial networking components, the user interface presentation tools accepting input from the financial network members and correspondingly displaying output as determined by the interactive processing components, whereby the user interface presentation tools present different user interfaces to the members of the financial network based on different roles of the respective members in the financial network.

2. The system of claim 1, further comprising permission setting components for allowing a primary account holder to set permissions for other members of the financial network.

3. The system of claim 2, wherein the permission setting components regulate at least one parameter for the other members of the financial network, the at least one parameter being selected from a group consisting of:

spending location(s),

spending categories,

spending limit(s),

categorical threshold(s), and

statement access(es).

4. The system of claim 1, further comprising interactive credit score monitoring tools for facilitating credit score monitoring for at least one member of the financial network.

5. The system of claim 1, further comprising networking components for assisting a member of the financial network to invite and/or add members to the financial network and/or for facilitating peer-to-peer transactions.

6. The system of claim 5, wherein the networking components facilitate transmission of an invitation to a potential member of the financial network.

7. The system of claim 5, wherein the networking components further provide information of networking relationship among the members of the financial network.

8. The system of claim 5, wherein the networking components further facilitates association or merging of financial information of a new member of the financial network with financial information of one or more existing members of the financial network.

9. The system of claim 1, further comprising comparative purchasing components for linking a member of the financial network with financial advice regarding purchasing scenarios.

10. The system of claim 9, wherein the comparative purchasing components are linked to calculation assistance components for assisting with understanding of repayment scenarios.

11. The system of claim 1, further comprising collaborative review components for facilitating financial interaction between members of the financial network.

12. The system of claim 1, wherein the financial network includes the account holder and other members selected from a group consisting of:

at least one family member or person associated with or chosen by the account holder,

at least one co-account holder for one account,

at least one secondary account holder for another account, and

a financial advisor.

13. A computer-implemented interactive account management method operated in cooperation with a financial institution on behalf of multiple account holders, the interactive account management method comprising:

defining, on at least one storage medium, a financial network for an account holder, the financial network comprising one or more financial accounts and two or more members including the account holder and at least one co-account holder, and for identifying the financial accounts and members of the financial network based on stored account information and/or user input, wherein at least two members of the financial network share access to at least one financial account in the financial network;

processing, by at least one processor, stored and input information with interactive processing components to provide interaction between the members of the defined financial network;

displaying, via a display device, interaction interfaces, thereby inviting participation from the financial network members, wherein different user interfaces are presented to the members of the financial network based on different roles of the respective members in the financial network; and

accepting, via an input device, input from the financial network members and correspondingly displaying output as determined by the interactive processing components.

14. The method of claim 13, further comprising providing permission setting components for allowing a primary account holder to set permissions for other members of the financial network.

15. The method of claim 13, further comprising regulating at least one parameter for the other members of the financial network, the at least one parameter being selected from a group consisting of:

spending location(s),

spending categories,

spending limit(s),

categorical threshold(s), and

statement access(es).

16. The method of claim 13, further comprising facilitating interactive credit score monitoring for at least one member of the financial network.

17. The method of claim 13, further comprising assisting a member of the financial network to invite and/or add members to the financial network.

18. The method of claim 13, further comprising facilitating peer-to-peer transactions.

19. The method of claim 13, further comprising linking a member of the financial network with financial advice regarding purchasing scenarios.

20. The method of claim 19, further comprising linking the comparative purchasing components to calculation assistance components for assisting the account holder with understanding repayment scenarios.

21. The method of claim 13, further comprising facilitating financial interaction among the members of the financial network with collaborative review tools.

22. A non-transitory computer-readable medium for an interactive account management system, the non-transitory computer-readable medium comprising instructions for causing at least one processor to perform the steps of:

defining, on at least one storage medium, a financial network for an account holder, the financial network comprising one or more financial accounts and two or more members including the account holder and at least one co-account holder, and for identifying the financial accounts and members of the financial network based on stored account information and/or user input, wherein at least two members of the financial network share access to at least one financial account in the financial network;

processing, by at least one processor, stored and input information with interactive processing components to provide interaction between the members of the defined financial network;

displaying, via a display device, interaction interfaces, thereby inviting participation from the financial network members, wherein different user interfaces are presented to the members of the financial network based on different roles of the respective members in the financial network; and

accepting, via an input device, input from the financial network members and correspondingly displaying output as determined by the interactive processing components.