Pay yourself first with revenue generation

• US 8,732,073 B2
• Filed: 08/06/2010
• Issued: 05/20/2014
• Est. Priority Date: 11/06/2000
• Status: Expired due to Fees

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: Propulsion Remote Holdings LLC (Intellectual Ventures LLC)
• Inventors: Thomas, Tracey R.
• Primary Examiner(s): Apple, Kirsten
• Application Number:
  US12/852,074
• Publication Number:
  US 20110004546A1
• Time in Patent Office: 1,383 Days
• Field of Search: 705/35, 705/38
• US Class Current: 705/38
• 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 20/384 using social networks
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The system identifies a revenue producing opportunity for a user. The system obtains information related to the user'"'"'s income, income sources, user'"'"'s debts (e.g., bills) and user'"'"'s goals. The system identifies a revenue producing opportunity for the user by matching user information with information regarding the opportunities. The system further provides recommendations related to the prioritization of paying certain bills and the amount to pay for each bill based upon, for example, savings goals, a community recommendation, minimizing penalties/fees associated with user'"'"'s debts, minimum amounts due, due dates and available income. The system and/or the user may then determine a payment hierarchy which includes transferring funds to the user'"'"'s savings account prior to paying all or a portion of certain bills, wherein the transfer of funds may include different funds transfer systems and methods.

Claims

1. A method comprising:

receiving, by a computer system associated with a financial institution, transaction information indicating a denied transaction request, wherein the denied transaction request is associated with an account of a user at the financial institution;

determining, by the computer system, a savings amount based upon the transaction information that indicates the denied transaction request, wherein the savings amount is for transfer to a savings account of a user associated with the transaction account at the financial institution;

determining, by the computer system, a plurality of pending debt payments corresponding to a plurality of debts associated with the user;

determining, by the computer system, a plurality of penalties corresponding to the plurality of pending debt payments; and

determining, by the computer system, a payment hierarchy based upon the savings amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy specifies payment amounts for the plurality of debts associated with the user and minimizes a total cost of the plurality of penalties.

2. The method of claim 1, wherein the savings amount is based upon a predetermined rule associated with the transaction account.

3. The method of claim 1, wherein the savings amount is a fixed percentage of a first transaction amount associated with a first transaction, wherein data for the first transaction is included in the transaction information.

4. The method of claim 1, wherein the computer system is configured to determine a different savings amount in the absence of receiving the transaction information indicating the denied transaction request.

5. The method of claim 1, further comprising determining a donation amount based upon a charity pledge.

6. The method of claim 5, further comprising receiving charity pledge information from a social networking system.

7. The method of claim 1, wherein transferring the savings amount comprises transferring the savings amount to an investment account of a third-party.

8. The method of claim 1, wherein the information indicating the denied transaction request is unavailable from a source other than the financial institution.

9. The method of claim 1, wherein the financial institution is a bank.

10. The method of claim 1, wherein determining the savings amount is based upon community knowledge associated with financial transaction account spending and savings rates.

11. The method of claim 10, wherein the community knowledge comprises, for a plurality of users, at least one of savings strategies, transaction histories, demographics, merchant information, debtor information, debt history, debtors, timeframes, payment terms, payment histories, penalty histories, penalty amounts, penalty rules, debt obligations, savings goals, savings accomplishments, survey results and user recommendations.

12. The method of claim 1, wherein the payment hierarchy is further based upon the transaction information.

13. The method of claim 1, wherein the savings amount is transferred, by the computer system, by debiting the financial transaction account.

14. A non-transitory computer-readable medium having computer executable instructions stored thereon that, if executed by a computer system associated with a financial institution, cause the computer system to perform operations comprising:

receiving transaction information indicating a denied transaction request, wherein the denied transaction request is associated with an account of a user at the financial institution;

determining a savings amount based upon the transaction information that indicates the denied transaction request, wherein the savings amount is for transfer to a savings account of a user associated with the transaction account at the financial institution;

determining a plurality of pending debt payments corresponding to a plurality of debts associated with the user;

determining a plurality of penalties corresponding to the plurality of pending debt payments; and

determining a payment hierarchy based upon the savings amount, the plurality of pending debt payments, and the plurality of penalties, wherein the payment hierarchy specifies payment amounts for the plurality of debts associated with the user and minimizes a total cost of the plurality of penalties.

15. The non-transitory computer-readable medium of claim 14, wherein the financial institution is a bank.

16. The non-transitory computer-readable medium of claim 14, wherein the information indicating the denied transaction is unavailable from a source other than the financial institution.

17. The non-transitory computer-readable medium of claim 14, wherein the information indicating the denied transaction specifies an amount of a transaction that was denied.

18. The non-transitory computer-readable medium of claim 17, wherein the operations further comprise determining the savings amount based upon the amount of the transaction that was denied.