Intelligent credential selection system

Patent metadata

Field	Value
Publication number	US-10210345-B2
Application number	US-201615228864-A
Country	US
Kind code	B2
Filing date	Aug 4, 2016
Priority date	Aug 4, 2016
Publication date	Feb 19, 2019
Grant date	Feb 19, 2019

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for generating communicable linkages that collectively provide a cloud-based dynamic credential selection and implementation system. The system generates a user profile containing user preferences, historic trends, and user resources based on information collected from a user and user associated accounts. The dynamic credential selection and implementation system is triggered by the user signaling the system of a proposed transaction. The system requests updated resource characteristics from resource managers. The user profile, resource characteristics and transaction characteristics are evaluated and ranked by the dynamic credential selection and implementation system before completion of the transaction, which in some embodiments requires user approval of the selected resource.

First claim

What is claimed is:

1. A system for dynamic intelligent resource selection and implementation, the system comprising:
a computer apparatus including a processor, a memory device, and a communication device; and
a software module stored in the memory, comprising computer-readable instructions that when executed by the processor cause the processor to:
identify user resources and one or more resource managers associated with the identified user resources;
identify item categories for items included in a pending transaction;
access a user profile, wherein the user profile comprises user resources, user preferences, historic resource trends associated with a user account, and resource manager terms for resource use, wherein the historic resource trends associated with the user account comprises behavioral tendencies of the user;

access a social media account of the user;
identify a behavioral tendency of the user by recognizing a word frequently employed by the user on the social media account of the user;
based on the behavioral tendency, generate a ranked list of resources for providing a total resource amount to a merchant, wherein the ranked list comprises a highest ranked user resource;
generate a confidence score of each of the resources on the ranked list of resources, wherein the confidence score comprises a confidence that a user will employ a specific resource for providing the total resource amount to the merchant and completing a transaction, wherein generating the confidence score is based on weighted factors, wherein the weighted factors comprise in descending order of weighted value: user preferences, past transaction data, historic resource trends associated with the user account, and location data associated with the user;
identify a first resource on the ranked list of resources with a confidence score that meets or exceeds a predetermined confidence limit;
access additional resource information to determine whether an additional resource would be ranked higher than the highest ranked user resource based on the items being purchased; and
initiate transmission of credential associated with the additional resource to the merchant for providing the total resource amount to the merchant based on at least determining that the additional resource would be ranked higher than the highest ranked user resource.

2. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
in response to generating the ranked list of resources, automatically select the highest ranked user resource for providing the total resource amount to the merchant; and
initiate transmission of credential associated with the selected user resource to the merchant for providing the total resource amount to the merchant.

3. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
in response to generating a ranked list of resources, determine whether a different user weighting would result in a more beneficial highest ranked user resource for performing the pending transaction; and
if so, initiate presentation of a recommended re-weighting to the user.

4. The system of claim 3 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
determine that a higher weighting for rewards would be more beneficial to the user; and
initiate presentation of a recommended re-weighting comprising a higher weighting associated with rewards to the user.

5. The system of claim 4 , wherein determining comprises determining that the item categories include items that match rewards associated with at least one of the resources available to the user for payment.

6. The system of claim 3 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
determine that a high weighting for APR would be more beneficial to the user; and
initiate presentation of a recommended re-weighting comprising a higher weighting associated with APR to the user.

7. The system of claim 6 , wherein determining comprises determining that at least one account associated with a resource available to the user has an APR above a high threshold.

8. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
trigger a communicable linkage with the one or more resource managers based on receiving a determined total resource amount required by a merchant;
open the communicable linkage with the one or more resource managers for resource manager updating resource characteristics associated with the user resources.

9. The system of claim 8 , wherein triggering the communicable linkage with the one or more resource managers based on determining the total resource amount required by the merchant further comprises:
receiving from the user device the determined total resource amount required by the merchant; and
in response to receiving from the user device the determined total resource amount required by the merchant, establishing a communication link between the user device and the cloud-based dynamic resource selection and implementation system.

10. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
initiate presentation of the selected user resource and the ranked list of resources from the one or more resource managers to the user device; and
enable user selection of one of the ranked list of resources for providing the total resource amount to the merchant.

11. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
transmit, based on identifying the first resource, the first resource on the ranked list of resources, to the merchant for providing the total resource amount to the merchant and completing the transaction.

12. The system of claim 1 , wherein the one or more resource managers comprise financial institutions that provide a debit card, credit card, and/or line of credit to the user for providing the total resource amount to the merchant and completing a transaction.

13. The system of claim 1 , wherein generating the ranked list of resources from the one or more resource managers further comprises analyzing the user preferences, wherein the user preferences include a preferred form of reward, incentive, and/or discount such as cash back, more reward points, lower interest rates, and/or the like provided to the user by an associated resource relative to resource characteristics set forth by the one or more resource managers.

14. The system of claim 1 , wherein generating the user profile comprises:
pushing a user profile comprising user preference selectable indicators to the user device;
receiving selected user preferences from the user device based on the pushing of the user profile;
identifying historic trends associated with user accounts; and
allowing the user to modify the user specific competitive proposal profile on the user device.

15. The system of claim 1 , wherein the computer-readable instructions when executed by the processor further cause the processor to:
generate a cloud-based dynamic payment decisioning application, wherein the cloud-based dynamic payment decisioning application enables for communicable linkage between the resource managers systems, the user device, and a merchant point-of-transaction device for integrative transaction completion.

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Assignees

• Bank Of America

Inventors

• Beye Rick A
• Kumar Ramitha Jaya
• Teitz Yonatan A
• Chilukamari Vamshi
• Bi Ran
• Russo Karrin A

Classifications

• G06F21/6227 Primary

  where protection concerns the structure of data, e.g. records, types, queries · CPC title

• G06Q50/26

  Government or public services (business processes related to the transportation industry G06Q50/40) · CPC title

• G06Q50/22

  Social work or social welfare, e.g. community support activities or counselling services · CPC title

• G06F2221/2141

  Access rights, e.g. capability lists, access control lists, access tables, access matrices · CPC title

• G06Q10/06315 Primary

  Needs-based resource requirements planning or analysis · CPC title