Predictive authorization techniques
First Claim
Patent Images
1. A method comprising:
- receiving an authorization request for a transaction over a network, the authorization request including account information and transaction information specifying at least a transaction amount;
identifying a financial account from the account information;
predicting future debiting and crediting of the account based on a history of the financial account;
predicting a balance of the financial account based on the predicted future debiting and crediting of the account, the predicting the balance of the financial account including generating a payment window for at least one credit to the account, the payment window specifying a time period within which the at least one credit is expected;
determining whether the predicted balance of the financial account is sufficient to support the transaction for the transaction amount, the determining based in part on the payment window; and
generating an approval response to the authorization request based on the determining.
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Abstract
Methods and systems are provided for processing a transaction. An authorization request for the transaction is received over a financial network. The authorization request includes account information and transaction information specifying at least a transaction amount. A financial account is identified from the account information. A history of the financial account is analyzed to generate a prediction of a balance of the financial account at a specified future time. It is determined that the balance of the financial account at the specified future time will support the transaction for the transaction amount. An approval response is accordingly generated for the transaction.
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Citations
32 Claims
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1. A method comprising:
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receiving an authorization request for a transaction over a network, the authorization request including account information and transaction information specifying at least a transaction amount; identifying a financial account from the account information; predicting future debiting and crediting of the account based on a history of the financial account; predicting a balance of the financial account based on the predicted future debiting and crediting of the account, the predicting the balance of the financial account including generating a payment window for at least one credit to the account, the payment window specifying a time period within which the at least one credit is expected; determining whether the predicted balance of the financial account is sufficient to support the transaction for the transaction amount, the determining based in part on the payment window; and generating an approval response to the authorization request based on the determining. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16)
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17. A system comprising:
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a communications device; a processor; a storage device; and a memory coupled with the processor, the memory comprising a computer-readable medium having a computer-readable program embodied therein for directing operation of the system to process a transaction, the computer-readable program including; instructions for receiving, with the communications device over a network, an authorization request for the transaction, the authorization request including account information and transaction information specifying at least a transaction amount; instructions for identifying, with the processor, a financial account from the account information; instructions for predicting, with the processor, future debiting and crediting of the financial account based on a history of the financial account; instructions for predicting, with the processor, a balance of the financial account based on the predicted future debiting and crediting of the financial account, the predicting the balance of the financial account including generating a payment window for at least one credit to the account, the payment window specifying a time period within which the at least one credit is expected; instructions for determining, with the processor, whether the predicted balance of the financial account is, sufficient to support the transaction for the transaction amount, the determining based in part on the payment window; and instructions for generating, with the processor, an approval response to the authorization request based on the determining. - View Dependent Claims (18, 19, 20, 21)
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- 22. The system of 17 wherein the instructions for predicting, with the processor, the balance of the financial account comprise instructions for predicting, with the processor, a balance of the financial account at a specified future time.
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26. A machine-readable medium having sets of instructions stored thereon which, when executed by a machine, cause the machine to:
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generate a model of at least one characteristic of a financial object over time from historical information; receive data defining an action to be taken with the financial object; predict future debiting and crediting of the financial object based on the historical information; predict a future state of the financial object based on the predicted future debiting and crediting, the predicting the future state including generating a payment window for at least one credit to the account, the payment window specifying a time period within which the at least one credit is expected; predicting an effect of the action based on the input data and the predicted future state of the characteristic of the financial object, the predicting the effect of the action based in part on the payment window; and decide whether to take the potential action based on the predicted effect. - View Dependent Claims (27, 28, 29, 30, 31)
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32. A method comprising:
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receiving an authorization request for a transaction over a network, the authorization request including account information and transaction information specifying at least a transaction amount; identifying a financial account from the account information; predicting future debiting and crediting of the financial account based on a history of the financial account; predicting, independently of a current balance of the financial account, a balance of the financial account based on the predicted future debiting and crediting of the financial account, the predicting the balance of the financial account including generating a payment window for at least one credit to the account, the payment window specifying a time period within which the at least one credit is expected; determining whether the predicted balance of the financial account will support the transaction for the transaction amount, the determining based in part on the payment window; and generating an approval response to the authorization request based on the determining.
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Specification