System and method for data management and financial transaction categorization

• US 8,700,503 B2
• Filed: 04/30/2012
• Issued: 04/15/2014
• Est. Priority Date: 11/28/2007
• Status: Active Grant

• Current Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Original Assignee: Wells Fargo Bank NA (Wells Fargo & Company)
• Inventors: Krakowiecki, Matthew, Kolling, Pearl, Mackouse, Jack, Rhein, Kevin, Hoople, Elizabeth, Yee, Kathy
• Primary Examiner(s): ADE, OGER GARCIA
• Application Number:
  US13/460,485
• Publication Number:
  US 20120215668A1
• Time in Patent Office: 715 Days
• Field of Search: 705/30
• US Class Current: 705/30
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A transaction management system includes a database system configured to receive and store data for a plurality of financial transactions, the data for the plurality of financial transactions being associated with a plurality of financial accounts of a user. The system further includes a server system coupled to the database system and configured to categorize the plurality of financial transactions into a plurality of categories, the categories including merchant categories and payment method categories, the server system being further configured to provide a plurality of user interfaces to the user, each user interface providing a display of a different portion of the plurality of financial transactions, each user interface configured to enable a user to select a link configured to direct the user to an image of a check associated with one of the plurality of financial transactions; and categorize the financial transaction into a one of the merchant categories.

Claims

1. A transaction management system, comprising:

a database system configured to receive and store data for a plurality of financial transactions, the data for the plurality of financial transactions being associated with a plurality of financial accounts of a user; and

a server system coupled to the database system and configured to categorize the plurality of financial transactions into a plurality of categories, the server system being further configured to provide a plurality of user interfaces to the user, each user interface providing a display of a different portion of the plurality of financial transactions, each user interface configured to

enable a user to select a link configured to direct the user to an image of a check associated with one of the plurality of financial transactions;

provide the user with a display of the image of the check; and

enable the user to categorize the financial transaction into a one of the merchant categories.

2. The system of claim 1, wherein the plurality of user interfaces includes

a first user interface that provides a display of data for a plurality of financial transactions categorized by payment method categories;

a second user interface that provides a display of data for a plurality of financial transactions within a single merchant category; and

a third user interface that provides a display of data for a single financial transaction.

3. The system of claim 2, wherein the server system is configured to selectively display one of the first, second, and third user interfaces to the user based on an input received from the user.

4. The system of claim 1, wherein the server system is configured to categorize additional ones of the financial transactions into merchant categories based on the categorization of the financial transaction.

5. The system of claim 4, wherein the server system is configured to categorize past financial transactions into the merchant categories based on the categorization of the financial transaction.

6. The system of claim 1, wherein the server system is configured to categorize future financial transactions into merchant categories based on the categorization of the financial transaction.

7. The system of claim 1, wherein at least one of the plurality of user interfaces includes a display portion having a plurality of selectable links, the selectable links being chosen by the server system from a larger group of selectable links stored in the database system, the server system being configured to choose the selectable links to be displayed in the display portion based on at least one customization criteria associated with the user.

8. A computer-implemented transaction management system, the system comprising:

a processor and program logic stored in memory and executable by the processor, the program logic comprising;

account management logic configured to manage bank accounts respectively associated with a plurality of account holders at a bank, the account management logic configured to process transactions for the bank accounts, the transactions including credit card transactions and check transactions;

interface logic configured to connect the transaction management system to computer systems associated with the plurality of account holders by way of the Internet, the interface logic providing the plurality of account holders with web access to an on-line banking area of the bank, the interface logic further configured to;

provide a display of a plurality of categories, wherein the transactions are categorized into the plurality of categories;

provide a display of a check image associated with at least one of the transactions;

provide a first link selectable to enable an account holder to categorize the at least one of the transactions.

9. The system of claim 8, wherein the interface logic is further configured to provide the account holder with at least one second link selectable to direct the account holder to additional data regarding resources available through the bank, the at least one second link being provided by the interface logic from a plurality of available links, the at least one second link being provided based on at least one customization criteria.

10. The system of claim 9, wherein the at least one customization criteria includes whether the account holder has an active spending plan with the bank, and the selectable link directs the account holder to a user interface configured to enable the account holder to set up a spending plan.

11. The system of claim 9, wherein the at least one customization criteria includes whether the account holder typically has a positive total monthly cash flow, and the selectable link directs the account holder to a user interface configured to provide the account holder with options regarding investment of any surplus cash flow.

12. The system of claim 9, wherein the at least one customization criteria includes whether the account holder has an active budget plan with the bank, and the selectable link directs the account holder to a user interface configured to enable the account holder to set up a budget plan.

13. The system of claim 8, wherein the additional data is provided via a web page.

14. The system of claim 8, wherein the additional data is associated with the transactions.

15. A method of managing financial data, comprising:

managing at a computer server bank accounts respectively associated with a plurality of account holders for a bank, including processing transactions for the bank accounts, the transactions including at least credit card transactions and checking transactions;

storing data for the transactions in a computer-implemented storage device provided by the bank;

categorizing at the computer server the transactions into a plurality of categories based on the data, the plurality of categories including at least merchant categories;

establishing by the computer server a connection with one of the account holders via the Internet, including providing the account holder with web access to an on-line banking area of a website of the bank;

providing by the computer server a first display of at least a portion of the plurality of categories to the account holder;

receiving at the computer server a first input from the account holder;

responsive to the first input, providing by the computer server a second display of a check image associated with one of the transactions;

receiving at the computer server a second input from the account holder categorizing the transaction into one of the merchant categories; and

responsive to the second input, updating by the computer server the first display to reflect the categorization of the transaction.

16. The method of claim 15, wherein for each displayed category, the first display includes a category description, a current cash flow amount, and an average cash flow amount calculated over a time period, the time period being configurable by the account holder, wherein the first display is customizable by the account holder to define the portion of the plurality of categories to be displayed.

17. The method of claim 15, further comprising:

providing a third display of transaction categories categorized by payment method category; and

receiving the first and second input via selectable links provided with the third display.

18. The method of claim 15, further comprising:

providing a third display associated with a single one of the merchant categories, the third display including transactions categorized within the merchant category; and

receiving the first and second inputs via selectable links provided with the third display.

19. The method of claim 15, further comprising:

providing a third display associated with a single one of the transactions; and

receiving the first and second inputs via selectable links provided within the third display.

20. The method of claim 15, further comprising categorizing additional ones of the transactions based on the categorization of the transaction.

21. The method of claim 15, further comprising categorizing future transactions based on the categorization of the transaction.