Systems and methods for identifying product recommendations based on investment portfolio data

• US 9,652,798 B2
• Filed: 10/09/2014
• Issued: 05/16/2017
• Est. Priority Date: 10/09/2013
• Status: Active Grant

• Current Assignee: Toronto-Dominion Bank
• Original Assignee: Toronto-Dominion Bank
• Inventors: Del Vecchio, Orin, Globe, Michael E., Al-Samadi, Mazin, Van Heerden, Lauren, Nadarajah, Gunalan, Cummins, Michael D., Sivashanmugam, Prabaharan
• Primary Examiner(s): Smith, Jeffrey A
• Assistant Examiner(s): LEE, JENNIFER V
• Application Number:
  US14/510,920
• Publication Number:
  US 20150100404A1
• Time in Patent Office: 950 Days
• Field of Search: 705 261- 272
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0631 Item recommendations
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

The disclosed embodiments include, for example, systems and methods for providing recommendations of one or more alternative products to a user based on investment portfolio data. In one aspect, the disclosed embodiments may include a system that is configured to obtain information associated with one or more products of interest to the user. In certain aspects, the obtained information may identify a product previously purchased by the user, one or more products that form a shopping list of the user, and/or a product identified by the user as a potential purchase. The system may be configured to identify one or more alternative products that are similar to the products of interest and that are related to one or more securities associated with an investment portfolio of the user. In one aspect, the system may be configured to generate one or more instructions to transmit information identifying the one or more alternatives product to a device of the user.

Claims

1. A system, comprising:

a storage device; and

at least one processor coupled to the storage device, the storage device storing software instructions for controlling the at least one processor when executed by the at least one processor, and the at least one processor being operative with the software instructions and configured to;

receive, from a device of a user, first information comprising an image captured by the user device, the image comprising coded data representative of an identifier of at least one product;

determine, based on the coded data, the product identifier and a plurality of product parameters;

obtain second information identifying securities included within an investment portfolio of the user;

determine that the at least one product is not related to any of the securities within the investment portfolio of the user;

in response to the determination that the at least one product is not related to any of the securities, obtain third information identifying locations associated with a plurality of prior purchase transactions involving the user;

identify an alternative product that exhibits at least one of the plurality of product parameters, the alternative product having a relationship with an issuer of at least one of the securities;

based on the obtained third information, establish a geographic region that includes at least a threshold number of the prior purchase transactions involving the user;

identify a retailer within the established geographic region that offers the alternative product for sale;

transmit first information identifying the alternative product and the retailer to the user device, the first information instructing the user device to present, through an interface, a first graphical overlay that includes a first graphical or textual representation of the alternative product and the retailer prior to a purchase of the at least one product by the user, the first graphical overlay visually distinguishing the first graphical or textual representation from a display of a surrounding of the user visible to the user within the interface;

receive data indicative of a detection, by the user device, of a wireless signal broadcast by a proximity system maintained by the retailer, the proximity system being disposed within a threshold distance to a geographic position of the alternative product within the retailer;

based on the detected wireless signal, establish a proximity of the device to the geographic position of the alternative product within the retailer; and

in response to the established proximity, transmit second information identifying the alternative product to the device, the second information instructing the device to present, through the interface, a second graphical overlay that includes a second graphical or textual representation of the alternative product prior to a purchase of the at least one product, the second textual or graphical representation being indicative of the proximity of the device to the geographic position of the alternative product within the retailer, and the second graphical overlay visually distinguishing the second graphical or textual representation from a display of a surrounding of the user visible to the user within the interface.

2. The system of claim 1, wherein:

the coded data comprises at least one of a QR code or bar code associated with the at least one product; and

the at least one processor is further configured to determine the product identifier prior to the purchase of the at least one product by the user, the product identifier comprising at least one of a name of the at least one product or an image of the at least one product.

3. The system of claim 1, wherein the at least one processor is further configured to:

obtain program data identifying a first loyalty program; and

identify a plurality of candidate retailers that offer the alternative product for sale;

determine that a relationship exists between a first corporate entity associated with the first loyalty program and a corporate entity associated with a first one of the candidate retailers; and

in response to the determination, establish the first candidate retailer as the identified retailer.

4. The system of claim 3, wherein the at least one processor is further configured to:

identify a second loyalty program available to the first user, the second loyalty program being associated with a corporate entity related to at least one of the alternative product or the identified retailer; and

transmit information identifying the second loyalty program to the user device.

5. The system of claim 3, wherein the at least one processor is further configured to:

identify a point balance associated with the first loyalty program; and

in response to a purchase of the alternative product from the identified retailer, perform processes that increase the point balance by a value determined in accordance with a rule established by the first loyalty program.

6. The system of claim 1, wherein the at least one processor is further configured to:

identify a plurality of candidate retailers that offer the alternative product for sale;

determine that a first one of the candidate retailers is disposed within a threshold distance or travel time of the geographic region; and

in response to the determination that the first condidate retailer is disposed within the threshold distance or travle time, establish the first candidate retailer as the identified retailer.

7. The system of claim 1, wherein the at least one processor is further configured to:

generate information identifying an incentive to purchase the alternative product from the identified retailer; and

transmit the generated purchase incentive information to the user device.

8. The system of claim 1, wherein the at least one processor is further configured to transmit, to the user device, information identifying an incentive to purchase securities issued by at least one of the identified retailer or a corporate entity associated with the alternative product.

9. The system of claim 1, wherein:

the at least one processor is further configured to identify the alternative product by obtaining first candidate products associated with at least one issuer of the securities; and

the at least one issuer comprises at least one of a manufacturer of a corresponding one of the first candidate products, a retailer of a corresponding one of the first candidate products, or a distributor of a corresponding one of the first candidate products.

10. The system of claim 9, wherein the at least one processor is further configured to:

determine that at least one of the first candidate products is associated with at least one product parameter; and

in response to the determination that the at least one first candidate products is associated with the at least one product parameter, select the alternative product from the at least one first candidate products.

11. The system of claim 9, wherein the at least one processor is further configured to:

identify a corporate entity related to the at least one issuer; and

obtain at least one second candidate product associated with the related corporate enity.

12. The system of claim 11 wherein the at least one processor is further configured to:

determine that at least one of the first and second candidate products is associated with the at least one product parameter; and

in response to the determination that the at least one of the first and second candidate products are associated with the at least one product parameter, select the alternative product from the at least one of the first and second candidate products.

13. The system of claim 1, wherein the at least one processor is further configured to identify a plurality of alternative products associated with at least one product parameter, the alternative products being related to at least one issuer of the securities included within the investment portfolio of the user.

14. The system of claim 1, wherein:

at least a portion of the prior purchase transactions involve one or more products purchased by the user;

the obtained third data comprises, for the one or more purchased products, at least one of retailer data, a product line, a product brand, a stock keeping unit number, a product name, a product image, a coded product identifier, a product size, a product price, or a product color; and

the at least one processor is further configured to determine, based on the obtained third data, one or more of the product parameters associated with the at least one product.

15. The system of claim 1, wherein:

the user device comprises a wearable device and

the transmitted first information instructs the wearable device to present information identifying the alternative product to the user.

30. The system of claim 1, wherein the at least one processor is configured to:

detect a proximity of the user device to a geographic position of the alternative product within an additional retailer; and

in response to the detected proximity, transmit information identifying the alternative product and the additional retailer to the user device.

16. A computer-implemented method, comprising:

receiving, from a device of a user, and using at least one processor, first information comprising an image captured by the user device, the image comprising coded data representative of an identifier of the at least one product;

based on the coded data, determining, using the at least one processor, the product identifier and a plurality of product parameters;

obtaining, using the at least one processor, second information identifying securities included within an investment portfolio of the user;

determining, using the at least one processor, that the at least one product is not related to the securities within the investment portfolio of the user;

in response to the determination that the at least one product is not related to the securities, obtaining, using the at least one processor, third information identifying a plurality of prior purchase transactions involving the user;

identifying, using the at least one processor, an alternative product that exhibits at least one of the plurality of product parameters, the alternative product having a relationship with an issuer of at least one of the securities;

based on the obtained third information, establishing, using the at least one processor, a geographic region that includes the locations associated with at least a threshold number of the prior purchase transactions involving the user;

identifying, using the at least one processor, a retailer within the established geographic region that offers the alternative product for sale; and

transmitting, using the at least one processor, first information identifying the alternative product and the retailer to the user device, the information instructing the user device to present, through an interface, a first graphical overlay that includes a first graphical or textual representation of the alternative product and the retailer prior to a purchase of the at least one product by the user, the first graphical overlay visually distinguishing the first graphical or textual representation from a display of a surrounding of the user visible to the user within the interface;

receiving, using the at least one processor, data indicative of a detection, by the user device, of a wireless signal broadcast by a proximity system maintained by the retailer, the proximity system being disposed within a threshold distance to a geographic position of the alternative product within the retailer;

based on the detected wireless signal, establishing, using the at least one processor, a proximity of the device to the geographic position of the alternative product within the retailer; and

in response to the established proximity, transmitting, using the at least one processor, second information identifying the alternative product to the device, the second information instructing the device to present, through the interface, a second graphical overlay that includes a second graphical or textual representation of the alternative product prior to a purchase of the at least one product, the second textual or graphical representation being indicative of the proximity of the device to the geographic position of the alternative product within the retailer, and the second graphical overlay visually distinguishing the second graphical or textual representation from a display of a surrounding of the user visible to the user within the interface.

17. The method of claim 16, wherein:

the coded data comprises at least one of a QR code or bar code associated with the at least one product; and

the method further comprises determining the product identifier prior to the purchase of the at least one product by the user, the product identifier comprising at least one of a name of the at least one product or an image of the at least one product.

18. The method of claim 16, wherein identifying the retailer comprises:

obtaining program data identifying a first loyalty program; and

identifying a plurality of candidate retailers that offer the alternative product for sale;

determining that a relationship exists between a first corporate entity associated with the first loyalty program and a corporate entity associated with a first one of the candidate retailers; and

in response to the determination, establishing the first candidate retailer as the identified retailer.

19. The method of claim 18, further comprising:

identifying a second loyalty program available to the first user, the second loyalty program being associated with a corporate entity related to at least one of the alternative product or the identified retailer; and

transmitting information identifying the second loyalty program to the user device.

20. The method of claim 18, further comprising:

identifying a point balance associated with the first loyalty program; and

in response to a purchase of the alternative product from the identified retailer, performing processes that increase the point balance by a value determined in accordance with a rule established by the first loyalty program.

21. The method of claim 16, wherein identifying the retailer comprises:

identifying a plurality of candidate retailers that offer the alternative product for sale;

determining that a first one of the candidate retailers is disposed within a threshold distance or travel time of the geographic region; and

in response to the determination that the first candidate retailer is disposed within the threshold distance or travel time, establishing the first candidate retailer as the identified retailer.

22. The method of claim 16, further comprising:

generating information identifying an incentive to purchase the alternative product from the identified retailer; and

transmitting the generated purchase incentive information to the user device.

23. The method of claim 16, further comprising, transmitting, to the user device, information identifying an incentive to purchase securities issued by at least one of the identified retailer or a corporate entity associated with the alternative product.

24. The method of claim 16, wherein:

the product parameters comprise at least one of a product type, a product class, or a product sector; and

the method further comprises determining, based on transaction data corresponding to one or more products purchased by the user, at least one of the product parameters.

25. The method of claim 16, wherein:

identifying the alternative product comprises obtaining first candidate products having relationships with at least one issuer of the securities;

an

the at least one issuer comprises at least one of a manufacturer of a corrseponding one of the first candidate products, a retailer of a corresponding one of th first candidater products, or a distributor of a corresponding one of the first candidate products.

26. The method of claim 25, wherein identifying the alternative product further comprises:

determining that at least one of the first candidate products exhibits at least one product parameter; and

in response to the determination that the at least one first candidate products exhibits the at least one product parameter, selecting the alternative product from the at least one first candidate products.

27. The method of claim 25, wherein the identifying the alternative product further comprises:

identifying a corporate entity related to the at least one issuer;

obtaining at least one second candidate product associated with the related corporate entity;

determining that at least one of the first and second candidate products exhibit at least one product parameter; and

in response to the determination that the at least one of the first and second candidate products exhibit the at least one product parameter, selecting the alternative product from the at least one of the first and second candidate products.

28. The method of claim 16, wherein:

at least a portion of the prior purchase transactions involve one or more products purchased by the user;

the obtained third data comprises, for the one or more purchased products, at least one of retailer data, a product line, a product brand, a stock keeping unit number, a product name, a product image, a coded product identifier, a product size, a product price, or a product color; and

the method further comprises;

determining, based on the obtained third data, one or more product parameters associated with the at least one product; and

identifying a plurality of alternative products associated with the at least one product parameter, the alternative products having relationships with at least one issuer of the securities included within the investment portfolio of the user.

29. The method of claim 16, wherein:

the user device comprises a wearable device and

the transmitted first information instructs the wearable device to present information identifying the alternative product to the user.