System and method for data management and financial transaction categorization

• US 8,620,780 B2
• Filed: 09/14/2012
• Issued: 12/31/2013
• 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: Krakowiecki, Matthew, Kolling, Pearl, Mackouse, Jack, Rhein, Kevin, Hoople, Elizabeth, Yee, Kathy
• Primary Examiner(s): Frenel, Vanel
• Application Number:
  US13/619,901
• Publication Number:
  US 20130013469A1
• Time in Patent Office: 473 Days
• Field of Search: 705/30, 705/35, 705/38, 705/39, 715/760, 715/810, 707/E17.044
• 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 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;

receiving a first input from the account holder;

responsive to the first input, providing a second display of a check image associated with one of the transactions;

receiving a second input from the account holder 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.

2. The method of claim 1, 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.

3. The method of claim 1, 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.

4. The method of claim 1, 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.

5. The method of claim 1, 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.

6. The method of claim 1, further comprising categorizing additional ones of the transactions based on the categorization of the transaction.

7. The method of claim 1, further comprising categorizing future transactions based on the categorization of the transaction.

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;

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;

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 display of a check image associated with one of the transactions;

receiving an input from the account holder categorizing the transaction into one of the categories; and

responsive to the input, updating the stored data to reflect the categorization of the transaction.

9. The method of claim 8, wherein the transactions include at least credit card transactions and checking transactions.

10. The method of claim 8, wherein the plurality of categories include at least merchant categories and payment method categories.

11. The method of claim 8, further comprising providing a second display of at least a portion of the plurality of categories to the account holder.

12. The method of claim 11, wherein updating the data includes updating the second display.

13. The method of claim 11, 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.

14. The method of claim 11, 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.

15. The method of claim 11, further comprising:

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

receiving the input via a selectable link provided with the third display.

16. The method of claim 11, further comprising:

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

receiving the input via selectable links provided within the third display.

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

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