System and method for establishing or modifying an account with user selectable terms
First Claim
1. A method of providing a financial account to a user comprising:
- receiving, by a computer processor over a computer network, a selection from a user requesting a recommendation for a financial account;
determining, by a computer processor, based on the selection, a list of most popular financial account terms associated with a service provider comprising a plurality of available financial account terms that are categorized into a plurality of categories;
sending, by the computer processor, to the user, the list;
receiving, by the computer processor over the computer network, from the user, a selection of one or more of the available financial account terms from the list; and
creating, by the computer processor, the financial account based on the user'"'"'s selection from the list.
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Abstract
The present invention relates to methods for allowing an account holder to easily customize the terms of an account such as a loan account, an asset account, a mortgage account, an insurance account, or a brokerage account. Exemplary embodiments of the invention allow the user to specify various preferred terms such as cost (e.g., APR and annual fee), rewards programs, card design, affiliates, credit line, and payment due date, among others. The financial service provider issuing the account, e.g., the issuing bank, may make the various available terms for the account easily accessible to the user, for example through an internet website or an automated phone system, enabling the user to easily specify his or her preferences. The customization methods may be applied to the process of opening a new account or customizing an existing account. The customization methods may dynamically update the available terms as the user begins to select his or her desired terms.
508 Citations
18 Claims
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1. A method of providing a financial account to a user comprising:
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receiving, by a computer processor over a computer network, a selection from a user requesting a recommendation for a financial account; determining, by a computer processor, based on the selection, a list of most popular financial account terms associated with a service provider comprising a plurality of available financial account terms that are categorized into a plurality of categories; sending, by the computer processor, to the user, the list; receiving, by the computer processor over the computer network, from the user, a selection of one or more of the available financial account terms from the list; and creating, by the computer processor, the financial account based on the user'"'"'s selection from the list. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18)
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Specification