METHOD AND APPARATUS FOR CONSUMER INTERACTION BASED ON SPEND CAPACITY
First Claim
1. A computer-based method of managing a consumer lifecycle in a credit-related industry, comprising:
- modeling, by a computer-based system for managing a consumer lifecycle in the credit-related industry comprising a processor and a non-transitory, tangible memory, consumer spending patterns using aggregate consumer data, including tradeline data and consumer panel data to produce a model of consumer spending patterns;
estimating, by the computer-based system, credit-related information of an individual consumer based on a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer;
offsetting, by the computer-based system, the previous balance transfer from the estimated credit-related information;
assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a positive or a negative integer; and
determining a strategy to interact with the individual consumer based on the credit score.
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Accused Products
Abstract
Share of Wallet (“SoW”) is a modeling approach that utilizes various data sources to provide outputs that describe a consumer'"'"'s spending capability, tradeline history including balance transfers, and balance information. These outputs can be appended to data profiles of customers and prospects and can be utilized to support decisions involving prospecting, new applicant evaluation, and customer management across the lifecycle. In addition to credit card companies, SoW outputs may be useful to companies issuing, for example: private label cards, life insurance, on-line brokerages, mutual funds, car sales/leases, hospitals, and home equity lines of credit or loans. “Best customer” models can correlate SoW outputs with various customer groups. A SoW score focusing on a consumer'"'"'s spending capacity can be used in the same manner as a credit bureau score.
150 Citations
20 Claims
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1. A computer-based method of managing a consumer lifecycle in a credit-related industry, comprising:
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modeling, by a computer-based system for managing a consumer lifecycle in the credit-related industry comprising a processor and a non-transitory, tangible memory, consumer spending patterns using aggregate consumer data, including tradeline data and consumer panel data to produce a model of consumer spending patterns; estimating, by the computer-based system, credit-related information of an individual consumer based on a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting, by the computer-based system, the previous balance transfer from the estimated credit-related information; assigning, by the computer-based system, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a positive or a negative integer; and determining a strategy to interact with the individual consumer based on the credit score. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for managing a consumer lifecycle in a credit-related industry, the system comprising:
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a non-transitory memory communicating with a processor for managing a consumer lifecycle in a credit-related industry; the non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising; modeling, by the processor, consumer spending patterns using aggregate consumer data, including tradeline data and consumer panel data to produce a model of consumer spending patterns; estimating, by the processor, credit-related information of an individual consumer based on a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting, by the processor, the previous balance transfer from the estimated credit-related information; assigning, by the processor, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a positive or a negative integer; and determining, by the processor, a strategy to interact with the individual consumer based on the credit score. - View Dependent Claims (9, 10, 11, 12, 13, 14, 15)
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16. An article of manufacture including a non-transitory computer readable medium having instructions stored thereon that, in response to execution by a computing device for managing a consumer lifecycle in a credit-related industry, cause the computing device to perform operations comprising:
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modeling, by the computing device, consumer spending patterns using aggregate consumer data, including tradeline data and consumer panel data to produce a model of consumer spending patterns; estimating, by the computing device, credit-related information of an individual consumer based on a previous balance transfer of the individual consumer and the model of consumer spending patterns, wherein the credit-related information comprises a spend amount associated with the individual consumer; offsetting, by the computing device, the previous balance transfer from the estimated credit-related information; assigning, by the computing device, a credit score to the individual consumer based on the estimated credit-related information, wherein the credit score includes an indicator indicating a trend of spending of the individual consumer over a given time and wherein the indicator is a positive or a negative integer; and determining, by the computing device, a strategy to interact with the individual consumer based on the credit score. - View Dependent Claims (17, 18, 19, 20)
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Specification