Dynamically providing financial solution recommendations

• US 8,417,608 B2
• Filed: 03/01/2011
• Issued: 04/09/2013
• Est. Priority Date: 01/26/2009
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Benefield, Stefani R., Ellis, Eric E.
• Primary Examiner(s): Dass, Harish T
• Application Number:
  US13/038,132
• Publication Number:
  US 20110178908A1
• Time in Patent Office: 770 Days
• Field of Search: 705 35- 37, 705/4, 705/26.1, 705/7.13, 715/221
• US Class Current: 705/35
• 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

Systems, methods, and computer program products are provided for dynamically building financial solution recommendations based on received inputs. These inputs, which may be received from the customer, an associate collaborating with the customer or from a customer database, may include customer behaviors, customer attitudes, customer life events, customer life interests, customer personal/profile data, customer financial data, such as portfolio data and the like. Based on the received inputs, financial solution recommendations are determined and presented to the customer in real time or near time. As such, the customer is able to instantaneously see how each input of recommendation criteria impacts the financial solution recommendations. Further, embodiments of the present invention provide for inputs to the financial solution recommendation tool/module to be received in a non-linear fashion, such that a customer or a collaborating associate may provide inputs at various entry points to accommodate specific financial solution needs of the customer.

Claims

1. A method for dynamically providing financial solution recommendations, the method comprising:

providing for a financial solution recommendation application having a plurality of entry points, wherein each entry point is associated with a corresponding financial solution;

receiving, via a computing device, a plurality of first inputs that each define criteria for recommending financial solutions;

determining, via a computing device processor, one or more financial solution recommendations based on the plurality of first inputs received;

providing, via a computing device display, a presentation of the one or more financial solution recommendations;

receiving, via a computing device, one or more second inputs at one of the plurality of entry point points, wherein the entry point defines a specific financial solution;

determining, via a computing device processor, each time a second input is received, whether to update the one or more financial solution recommendations based on both the plurality of first inputs and the second input, wherein update includes one of adding to the financial solution recommendations or deleting from the financial solution recommendations;

updating, via the computer device display, the presentation of one or more financial solution recommendations based on receipt of one or more second inputs, wherein the update results in presentation of two or more financial solution recommendations that conflict and wherein the update occurs in real-time or near-real time to receiving a second input, such that the customer is capable of immediate comprehension of an impact that the second input has on the one or more financial solution recommendations;

determining, via a computing device, a best fit financial solution recommendation from amongst the two or more financial solution recommendations that conflict; and

updating, via the computing device display, the presentation to include a first notation that the two or more financial solution recommendations are conflicting and a second notation indicating the best fit financial solution recommendation from amongst the two or more financial solutions.

2. The method of claim 1, wherein receiving the plurality of first inputs further comprises receiving, via the computing device, the plurality of first inputs, wherein each of the first inputs define at least one of a customer financial behavior, a customer financial attitude, a customer life event, a customer life interest, customer personal data or customer financial portfolio data.

3. The method of claim 1, wherein receiving the plurality of first inputs further comprises receiving in a non-linear order, via the computing device, the plurality of first inputs, wherein the non-linear order allows the plurality of first inputs to be received at specific entry points associated with specific financial solutions desired based on the customer'"'"'s financial needs.

4. The method of claim 1, wherein receiving the plurality of first inputs further comprises receiving, via the computing device, the plurality of first inputs, wherein one or more of the first inputs are in response to one or more queries posed to the customer.

5. The method of claim 1, wherein receiving the plurality of first inputs further comprises receiving, via the computing device, the plurality of first inputs, wherein one or more of the first inputs are received or derived from stored customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

6. The method of claim 1, wherein receiving the plurality of first inputs further comprises receiving, via the computing device, the plurality of first inputs, wherein one or more of the first inputs are in response to one or more queries posed to the customer and one or more first inputs are received or derived from stored customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

7. The method of claim 1, wherein determining the one or more financial solution recommendations further comprises determining, via the computing device processor, the one or more financial solution recommendations, wherein the financial solution recommendations include at least one of a financial product, a financial service or an offer related to a financial product or a financial service.

8. The method of claim 1, further providing, via the computing device display, access to one or more networked multi-media demonstrations, each demonstration related to one or more of the financial solution recommendations provided for in the presentation.

9. The method of claim 1, further providing, via the computing device display, access to one or more networked tutorials, each tutorial related to one or more of the financial solution recommendations provided for in the presentation.

10. An apparatus for providing dynamic financial solution recommendations, the apparatus comprising:

a computing platform having at least one processor and a memory in communication with the processor, and

a financial solution recommendation module stored in the memory, executable by the processor, including a plurality of entry points associated with a corresponding financial solution, and configured to;

receive a plurality of first inputs that each define criteria for recommending financial solutions;

determine one or more financial solution recommendations based on the plurality of first inputs received;

provide a displayable presentation of the one or more financial solution recommendations;

receive one or more second inputs at a one of the plurality of entry points, wherein the entry point defines a specific financial solution;

determine, each time a second input is received, whether to update the one or more financial solution recommendations based on both the plurality of first inputs received and the second input received, wherein update includes one of adding to the financial solution recommendations or deleting from the financial solution recommendations;

update the presentation of one or more financial solution recommendations based on receipt of one or more second inputs, wherein the update results in presentation of two or more financial solution recommendations that conflict and wherein the update occurs in real-time or near-real time to receiving a second input, such that the customer is capable of immediate comprehension of an impact that the second input has on the one or more financial solution recommendations;

determine a best fit financial solution recommendation from amongst the two or more financial solution recommendations that conflict; and

update the presentation to include a first notation that the two or more financial solution recommendations are conflicting and a second notation indicating the best fit financial solution recommendation from amongst the two or more financial solutions.

11. The apparatus of claim 10, wherein the module is further configured to receive the plurality of first inputs, wherein each of the first inputs define at least one of a customer financial behavior, a customer financial attitude, a customer life event, a customer life interest, customer personal data or customer financial portfolio data.

12. The apparatus of claim 10, wherein the module is further configured to receive the plurality of first inputs in a non-linear order, wherein the non-linear order allows the plurality of first inputs to be received at specific entry points associated with specific financial solutions desired based on the customer'"'"'s financial needs.

13. The apparatus of claim 10, wherein the module is further configured to receive the plurality of inputs, wherein one or more of the first inputs are in response to one or more queries posed to the customer.

14. The apparatus of claim 13, wherein the module is further configured to present one or more user interfaces that display the one or more queries and provide for receiving one or more of the plurality of inputs.

15. The apparatus of claim 10, wherein the module is further configured to receive customer data from a customer database and derive one or more of the first inputs from the customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

16. The apparatus of claim 15, wherein the module is further configured receive one or more of the first inputs in response to one or more queries posed to the customer and derive one or more inputs from the customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

17. The apparatus of claim 10, wherein the module is further configured to determine the one or more financial solution recommendations, wherein the financial solution recommendations include at least one of a financial product, a financial service or an offer related to a financial product or a financial service.

18. The apparatus of claim 10, wherein the module is further configured to provide access to one or more networked multi-media demonstrations, each demonstration related to one or more of the financial solution recommendations that are provided.

19. The apparatus of claim 10, wherein the module is further configured to provide access to one or more networked tutorials, each tutorial related to one or more of the financial solution recommendations that are provided.

20. A computer program product, comprising:

a non-transitory computer-readable medium comprising sets of codes for causing a computer to perform steps including;

receiving a plurality of first inputs that each defines criteria for recommending financial solutions;

determining one or more financial solution recommendations based on the plurality of first inputs;

providing a displayable presentation of the one or more financial solution recommendations;

receiving one or more second input inputs at a specific entry point, wherein the specific entry point defines a specific financial solution based on a customer'"'"'s needs;

determining, each time a second input is received, whether to update the one or more financial solution recommendations based on both the plurality of first inputs received and the second input received, wherein update includes one of adding to the financial solution recommendations or deleting from the financial solution recommendations;

updating the presentation of one or more financial solution recommendations based on receipt of one or more second inputs, wherein the update results in presentation of two or more financial solution recommendations that conflict and wherein the update occurs in real-time or near-real time to receiving a second input, such that the customer is capable of immediate comprehension of an impact that the second input has on the one or more financial solution recommendations;

determining a best fit financial solution recommendation from amongst the two or more financial solution recommendations that conflict; and

updating the presentation to include a first notation that the two or more financial solution recommendations are conflicting and a second notation indicating the best fit financial solution recommendation from amongst the two or more financial solutions.

21. The computer program product of claim 20, wherein receiving the plurality of first inputs further comprises receiving the plurality of first inputs wherein each of the first inputs define at least one of a customer financial behavior, a customer financial attitude, a customer life event, a customer life interest, customer personal data or customer financial portfolio data.

22. The computer program product of claim 20, wherein receiving the plurality of first inputs further comprises receiving, in a non-linear order, the plurality of first inputs, wherein the non-linear order allows the plurality of first inputs to be received at specific entry points associated with specific financial solutions desired based on the customer'"'"'s financial needs.

23. The computer program product of claim 20, wherein receiving the plurality of first inputs further comprises receiving the plurality of first inputs wherein one or more of the first inputs are in response to one or more queries posed to the customer.

24. The computer program product of claim 20, wherein receiving the plurality of first inputs further comprises receiving the plurality of first inputs wherein one or more of the first inputs are derived from stored customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

25. The computer program product of claim 20, wherein receiving the plurality of first inputs further comprises receiving the plurality of first inputs wherein one or more of the first inputs are in response to one or more queries posed to the customer and one or more first inputs are derived from stored customer data, wherein the customer data includes one or more of profile data, account data, or transaction data.

26. The computer program product of claim 20, wherein determining the one or more financial solution recommendations further comprises determining the one or more financial solution recommendations, wherein the financial solution recommendations include at least one of a financial product, a financial service or an offer related to a financial product or a financial service.

27. The computer program product of claim 20, wherein the steps further include providing access to one or more networked multi-media demonstrations, each demonstration related to one or more of the financial solution recommendations that are provided.

28. The computer program product of claim 20, wherein the steps further include providing access to one or more networked tutorials, each tutorial related to one or more of the financial solution recommendations that are provided.