Categorization of Summarized Information

• US 20100169168A1
• Filed: 03/08/2010
• Published: 07/01/2010
• Est. Priority Date: 06/01/1999
• Status: Active Grant

• Current Assignee: Yodlee Incorporated (Envestnet Incorporated)
• Original Assignee: Ramakrishna Satyavolu
• Inventors: Satyavolu, Ramakrishna
• Granted Patent: US 8,266,515 B2
• Time in Patent Office: Days
• US Class Current: 705/10
• CPC Class Codes: G06F 16/9535 Search customisation based on user profiles and personalisation
• CPC Class Codes: G06F 16/972 Access to data in other repository systems, e.g. legacy data or dynamic Web page generation
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/12 Accounting
• CPC Class Codes: H04L 67/02 based on web technology, e.g. hypertext transfer protocol [HTTP]
• CPC Class Codes: H04L 67/56 Provisioning of proxy services store-and-forward switching systems in data switching networks H04L12/54

Abstract

A system for categorizing transactions includes a collection function gathering information concerning transactions, including at least date, description and amount of the transactions, for a particular person or enterprise, and a processing function categorizing individual ones of the collected transactions according to at least part of the transaction description.

Claims

1. A system for sorting and reporting financial transaction information, comprising;

a collector function executing from a machine-readable medium, the collector function navigating to one or more network information sites and retrieving therefrom transaction information associated with a specific person or enterprise, the transaction information including at least date, description and amount of the transactions;

an input function enabling a user to provide to the system a request for a summary of transactions over a specific range of dates, according types of transactions;

a processing function parsing the collected transaction descriptions for determining purpose of transaction, using pre-stored description characteristics associated with purpose, and summarizing those transactions that meet the purpose and fall into the date range; and

a reporting function for reporting the summarized transactions.

2. The system of claim 1 wherein the reporting function provides a total transaction amount with the summarized transactions.

3. The system of claim 1 wherein a summary is provided for a first plurality of persons or enterprises subscribing to the system according to requests entered by a second plurality of persons or enterprises subscribing to the system.

4. The system of claim 1 wherein description characteristics are developed from information taken from communication between users and the system.

5. The system of claim 4 wherein a probability algorithm is used in developing description characteristics.

6. The system of claim 1 wherein description characteristics are periodically amended according to further information that is collected and processed.

7. The system of claim 1 wherein the system reports to users through the Internet network.

8. The system of claim 2 wherein the system further comprises a function storing past transaction history associated with the particular person or enterprise.

9. The system of claim 8 wherein the past transaction history is used to predict future transaction statistical information.

10. A method for sorting and reporting financial transaction information, comprising;

(a) navigating to one or more network information sites by a collector function executing from a machine-readable medium, and retrieving therefrom transaction information associated with a specific person or enterprise, the transaction information including at least date, description and amount of the transactions;

(b) providing by a user to the system through an input function a request for a summary of transactions over a specific range of dates, according types of transactions;

(c) parsing the collected transaction descriptions by a processing function, determining purpose of transaction, using pre-stored description characteristics associated with purpose, and summarizing those transactions that meet the purpose and fall into the date range; and

(d) reporting the summarized transactions by a reporting function.

11. The method of claim 10 wherein the reporting function provides a total transaction amount with the summarized transactions.

12. The method of claim 10 wherein a summary is provided for a first plurality of persons or enterprises subscribing to the system according to requests entered by a second plurality of persons or enterprises subscribing to the system.

13. The method of claim 10 wherein description characteristics are developed from information taken from communication between users and the system.

14. The method of claim 13 wherein a probability algorithm is used in developing description characteristics.

15. The method of claim 10 wherein description characteristics are periodically amended according to further information that is collected and processed.

16. The method of claim 10 wherein the system reports to users through the Internet network.

17. The method of claim 11 wherein the system further comprises a function storing past transaction history associated with the particular person or enterprise.

18. The method of claim 17 wherein the past transaction history is used to predict future transaction statistical information.