Method of Implementing a Financial Wellness Programme and a System Therefor

• US 20140358746A1
• Filed: 11/28/2012
• Published: 12/04/2014
• Est. Priority Date: 12/09/2011
• Status: Abandoned Application

• Current Assignee: Discovery Limited
• Original Assignee: Discovery Limited
• Inventors: Segal, Darren, Hutchinson-Keip, Robert
• Application Number:
  US14/363,890
• Publication Number:
  US 20140358746A1
• Time in Patent Office: Days
• US Class Current: 705/30
• 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
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system and method of implementing a financial management programme includes defining a plurality of financial management programme areas and receiving data relating to the financial compliance of an individual or organisation in each of the financial management programme areas. The data is stored in a database and then processing the data to determine an award for the individual or organisation based on their financial compliance.

Claims

1. A method of implementing a financial management programme, the method including:

defining, with a computer, a plurality of financial management programme areas;

receiving, with a computer, data relating to the financial compliance of an individual or organisation in each of the financial management programme areas;

storing, with a computer, the data in a database; and

processing, with a computer, the data to determine an award for the individual or organisation based on their financial compliance,

2. A method according to claim 1 further including periodically receiving data, with a computer, relating to the financial compliance of the individual or organisation in each of the financial management programme areas and periodically processing, with a computer, the data to determine an award.

3. A method according to claim 1 wherein the reward is a lower interest rate on a loan.

4. A method according to claim 3 wherein where the method is applied periodically, the lower interest rate will be varied periodically.

5. A method according to claim 1 wherein the method includes awarding points, with a computer, to the individual or organisation for their compliance in each of the financial management programme areas wherein the greater the number of points awarded the greater the quantum of the reward.

6. A method according to claim 1 wherein the at least one financial management programme area includes at least some of saving for retirement, saving for an emergency, having a will, having insurance and having a good credit record.

7. An electronic system for implementing a financial management programme, the system including:

a controller for defining a plurality of financial management programme areas;

a communications module for receiving data relating to the financial compliance of an individual or organisation in each of the financial management programme areas;

a database for storing the data; and

a calculation module for processing the data to determine an award for the individual or organisation based on their financial compliance.

8. A system according to claim 7 wherein the communications module further includes periodically receiving data relating to the financial compliance of the individual or organisation in each of the financial management programme areas and the calculation module periodically processes the data to determine an award.

9. A system according to claim 8 wherein the reward is a lower interest rate on a loan.

10. A system according to claim 9 wherein where the calculation is periodically calculated, the lower interest rate will be varied periodically.

11. A system according to claim 8 wherein the calculation module awards points to the individual or organisation for their compliance in each of the financial management programme areas wherein the greater the number of points awarded the greater the quantum of the reward.

12. A system according to claim 8 wherein the at least one financial management programme area includes at least some of saving for retirement, saving for an emergency, having a will, having insurance and having a good credit record.

13. A method of implementing a financial management programme, the method including:

defining, with a computer, a plurality of financial management programme areas;

receiving, with a computer, data relating to the financial compliance of an individual or organisation in each of the financial management programme areas;

storing, with a computer, the data in a database; and

processing, with a computer, the data to determine the pricing of credit for the individual or organisation based on their financial compliance.

14. An electronic system for implementing a financial management programme, the system including:

a controller for defining a plurality of financial management programme areas;

a communications module for receiving data relating to the financial compliance of an individual or organisation in each of the financial management programme areas;

a database for storing the data; and

a calculation module for processing the data to determine the pricing of credit for the individual or organisation based on their financial compliance.