Automatically updating account information

• US 9,508,057 B2
• Filed: 02/26/2013
• Issued: 11/29/2016
• Est. Priority Date: 02/26/2013
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Joa, David, Bendel, Timothy J.
• Primary Examiner(s): Hamilton, Lalita M
• Application Number:
  US13/777,456
• Publication Number:
  US 20140244482A1
• Time in Patent Office: 1,372 Days
• Field of Search: 705/35, 705/38, 705/40, 705/44
• US Class Current: 1/1
• CPC Class Codes: G06Q 10/10 Office automation; Time management

Abstract

A method of one embodiment facilitates the updating of account information. First account information associated with a payment account of a user is received by an interface, and the first account information is stored by a memory. Payee system information associated with a payee system, wherein the payee system stores one or more portions of the first account information, is also received by the interface and stored by the memory. A processor automatically determines that an update event has occurred, the update event associated with updated information comprising one or more updated values for one or more respective portions of the first account information, wherein at least a portion of the first account information stored on the payee system changes based on the update event. In response to automatically determining that the update event has occurred, the interface automatically communicates a payee update message comprising the updated account information.

Claims

1. A method for updating account information, the method comprising:

receiving, by an interface, first account information associated with a payment account of a user;

storing, by a first memory, the first account information;

receiving, by the interface, payee system information associated with a plurality of payee systems, wherein the payee system information comprises encryption information for accessing the payee system and the plurality of payee systems store one or more portions of the first account information;

storing, by a second memory, the payee system information associated with the plurality of payee systems;

automatically determining, by a processor, that a first type of payment transaction from the payment account has occurred, the payment transaction generating an update event, wherein the payment transaction comprises at least an attempted transfer of funds into or out of the payment account;

updating, based on the update event, at least a portion of the account information;

automatically determining, by a processor, whether one or more of the plurality of payee systems is configured to initiate recurring payments from the payment account of the user; and

if one or more of the payee systems is configured to initiate recurring payments, automatically communicating, by the interface, a payee update message comprising the updated account information to the one or more configured payee systems.

2. The method of claim 1, wherein:

the payee system information comprises authorization information; and

automatically communicating the payee update message further comprises communicating, by the interface, the authorization information to the one or more configured payee systems, wherein authorization to modify the first account information on the one or more configured payee systems is obtained based at least on the payee system information.

3. The method of claim 1, wherein automatically determining that an update event has occurred comprises automatically determining that the first account information has been updated with the updated account information.

4. The method of claim 1, further comprising:

storing, by the first memory, the updated account information; and

processing a payment request from the one or more configured payee systems after automatically communicating the payee update message, the payment request comprising the updated account information.

5. The method of claim 1, further comprising:

processing a first payment request from the one or more configured payee systems before automatically determining that the update event has occurred, the first payment request comprising the first account information; and

processing a second payment request from the one or more configured payee system after automatically communicating the payee update message, the second payment request comprising the updated account information.

6. The method of claim 1, wherein the account information comprises one or more of the following:

an account identifier associated with the payment account;

an address associated with the payment account;

an expiration date associated with a payment account;

information associated with one or more payment cards issued on the payment account;

information indicating one or more users authorized to make payments from the payment account; and

information associated with one or more fraud incidents associated with the payment account.

7. The method of claim 1, wherein the payee system information comprises one or more of the following:

payee communication information associated with the plurality of payee systems;

one or more payment dates associated with the plurality of payee systems;

a payment frequency associated with the plurality of payee systems; and

authorization information associated with the user on the plurality of payee systems.

8. The method of claim 1, wherein communicating the update message comprises communicating, by the interface, an update notification to the user.

9. An apparatus for updating account information, the apparatus comprising:

an interface operable to;

receive first account information associated with a payment account of a user;

receive payee system information associated with a plurality of payee systems, wherein the payee system information comprises encryption information for accessing the payee system and the plurality of payee systems store one or more portions of the first account information;

a first memory operable to store the first account information;

a second memory operable to store the payee system information; and

a processor communicatively coupled to the interface and the memory, the processor operable to;

automatically determine that a first type of payment transaction from the payment account has occurred, the payment transaction generating an update event, wherein the payment transaction comprises at least an attempted transfer of funds into or out of the payment account;

update, based on the update event, at least a portion of the account information;

automatically determine whether one or more of the plurality of payee systems is configured to initiate recurring payments from the payment account of the user; and

if one or more of the payee systems is configured to initiate recurring payments, automatically generate a payee update message in response to automatically determining that the update event has occurred; and

the network interface further operable to communicate the payee update message comprising updated account information to the one or more configured payee systems, the updated account information comprising one or more updated values for one or more respective portions of the first account information.

10. The apparatus of claim 9, wherein:

the payee system information comprises authorization information; and

the interface is further operable to automatically communicate the authorization information to the one or more configured payee systems, wherein authorization to modify the first account information on the one or more configured payee systems is obtained based at least on the payee system information.

11. The apparatus of claim 9, wherein automatically determining that an update event has occurred comprises automatically determining that the first account information has been updated with the updated account information.

12. The apparatus of claim 9, wherein:

the first memory is further configured to store the updated account information; and

the processor is further configured to process a payment request after automatically communicating the payee update message, the payment request comprising the updated account information.

13. The apparatus of claim 9, wherein the processor is further configured to:

process a first payment request from the one or more configured payee systems before automatically determining that the update event has occurred, the first payment request comprising the first account information; and

process a second payment request from the one or more configured payee systems after automatically communicating the payee update message, the second payment request comprising the updated account information.

14. The apparatus of claim 9, wherein the account information comprises one or more of the following:

an account identifier associated with the payment account;

an address associated with the payment account;

an expiration date associated with a payment account;

information associated with one or more payment cards issued on the payment account;

information indicating one or more users authorized to make payments from the payment account; and

information associated with one or more fraud incidents associated with the payment account.

15. The apparatus of claim 9, wherein the payee system information comprises one or more of the following:

payee communication information associated with the plurality of payee systems;

one or more payment dates associated with the plurality of payee systems;

a payment frequency associated with the plurality of payee systems; and

authorization information associated with the user on the plurality of payee systems.

16. The apparatus of claim 9, wherein communicating the update message comprises communicating an update notification to the user.

17. A non-transitory computer readable storage medium comprising logic, the logic operable, when executed by a processor, to:

receive first account information associated with a payment account of a user;

store the first account information in a first memory;

receive payee system information associated with a plurality of payee systems, wherein the payee system information comprises encryption information for accessing the payee system and the plurality of payee systems store one or more portions of the first account information; and

store the payee system information associated with the plurality of payee systems in a second memory;

automatically determine that a first type of payment transaction from the payment account has occurred, the payment transaction generating an update event, wherein the payment transaction comprises at least an attempted transfer of funds into or out of the payment account;

update, based on the update event, at least a portion of the account information;

automatically determine whether one or more of the plurality of payee systems is configured to initiate recurring auto-payments by periodically reviewing transactions of the plurality of payee systems; and

if one or more of the payee systems is configured to initiate recurring auto-payments, automatically communicate a payee update message comprising the updated account information to the one or more configured payee systems.

18. The non-transitory computer readable storage medium of claim 17, wherein:

the payee system information comprises authorization information; and

the logic is further operable to automatically communicate the payee update message by communicating the authorization information to the one or more configured payee systems, wherein authorization to modify the first account information on the one or more configured payee systems is obtained based at least on the payee system information.

19. The non-transitory computer readable storage medium of claim 17, wherein the logic is further operable to automatically determine that an update event has occurred by automatically determining that the first account information has been updated with the updated account information.

20. The non-transitory computer readable storage medium of claim 17, wherein the logic is further operable to:

store the updated account information in the first memory; and

process a payment request from one or more of the plurality of payee systems after automatically communicating the payee update message, the payment request comprising the updated account information.