Systems and methods for multi-use account system

Patent metadata

Field	Value
Publication number	US-10614451-B2
Application number	US-201816116294-A
Country	US
Kind code	B2
Filing date	Aug 29, 2018
Priority date	Aug 29, 2018
Publication date	Apr 7, 2020
Grant date	Apr 7, 2020

Abstract

The present disclosure relates to an account system for optimizing transactions for a user. In one implementation, the system may include at least one processor and a storage medium storing instructions that, when executed, configure the at least one processor to perform operations. The operations may include receiving, from the merchant system, merchant information for the transaction, retrieving, based on the account number, a database record from a database, the database record comprising the plurality of financial accounts associated with the user and user preferences, determining financial account data associated with each of the plurality of financial accounts, determining, using an optimization algorithm, a preferred financial account from the plurality of financial accounts based on the financial account data, the user preferences, and the merchant information, and selecting, based on the determination, the preferred financial account to complete the transaction.

First claim

What is claimed is:

1. An account system for optimizing transactions for a user, the system comprising:
at least one processor; and
a storage medium storing instructions that, when executed, configure the at least one processor to perform operations comprising:
receiving card information during a transaction at a merchant system, wherein the card information includes a single account number associated with a plurality of financial accounts associated with the user;
receiving, from the merchant system, merchant information for the transaction;
retrieving, based on the account number, a database record from a database, the database record comprising the plurality of financial accounts associated with the user, user transaction history for at least one of the plurality of financial accounts, and user preferences;
calculating, using a machine learning algorithm, a user behavior metric associated with the user, wherein calculating includes:
extracting features indicating characteristics of the user's behavior from the user transaction history and user preferences using a first convolutional neural network;
determining user behavior attributes from the extracted features using a second convolutional neural network; and
calculating the user behavior metric based on the user behavior attributes;

determining financial account data associated with each of the plurality of financial accounts;
determining, using an optimization algorithm, a preferred financial account from the plurality of financial accounts based on the financial account data, the user behavior metric, the user preferences, and the merchant information; and
selecting, based on the determination, the preferred financial account to complete the transaction.

2. The system of claim 1 , wherein the financial account data comprises one or more factors, the factors comprising of rewards program information, a credit limit, a fee, an annual percentage rate, a benefit associated with the financial account, a threshold requirement to fulfill a status associated with the financial account, and a threshold requirement to fulfill a rewards program associated with the financial account.

3. The system of claim 2 , wherein the user preferences comprise weights associated with the factors, the weights indicating a level of importance to the user.

4. The system of claim 1 , wherein the user preferences comprise one or more of user interests, transaction category preferences, and reward accumulation goals.

5. The system of claim 1 , wherein the operations further comprise:
retrieving, from the database, user transaction history relating to the financial accounts; and
calculating a user behavior metric associated with the user, based on the user transaction history.

6. The system of claim 5 , wherein the user behavior metric comprises a user behavior metric generated by a machine learning processor.

7. The system of claim 5 , wherein the user behavior metric indicates one or more of user spending patterns, user spending preferences, user category preferences, or user reward preferences.

8. The system of claim 5 , wherein the user information further comprises the user behavior metric.

9. The system of claim 1 , wherein the operations further comprise:
generating a recommendation for an additional financial account based on the user behavior metric.

10. The system of claim 1 , wherein the operations further comprise:
determining a geographic location of the mobile device at the time of the transaction; and
wherein determining a preferred financial account from the plurality of financial accounts is further based on the determined location.

11. The system of claim 1 , wherein the transaction is initiated by the mobile device.

12. The system of claim 11 , wherein the card information is received from a virtual card when the transaction is initiated by the mobile device, the virtual card being stored on a memory of the mobile device.

13. The system of claim 1 , wherein the merchant information comprises one or more of a date, a time, or a location of the transaction.

14. The system of claim 1 , wherein the operations further comprise:
receiving, from the user at a user interface, account information for a first one of the user financial accounts;
retrieving financial account data relating to the first user financial account; and
storing the financial account data in the database in association with the card information.

15. The system of claim 14 , wherein the account information comprises one or more of a name of the user, an account number, or a passcode.

16. The system of claim 1 , wherein:
each of the plurality of financial accounts is associated with a rewards program; and
the financial account data comprises:
one or more of points accumulated in the rewards programs; and
rules associated with the rewards programs.

17. The system of claim 16 , wherein the optimization algorithm determines the selected financial account points accumulated in rewards programs of the financial accounts.

18. The system of claim 17 , wherein the operations further comprise:
determining a transaction category based on the merchant information; and
determining, using the optimization algorithm, the amount of points accumulated in rewards programs of the accounts based on rules associated with the rewards programs.

19. A computer-implemented method for optimizing transactions for a user, the method comprising:
receiving card information and merchant information during a transaction, wherein the card information includes a single account number associated with a plurality of financial accounts associated with the user;
retrieving, based on the account number, a database record from a database, the database record comprising the plurality of financial accounts associated with the user, user transaction history for at least one of the plurality of financial accounts, and user preferences;
calculating, using a machine learning algorithm, a user behavior metric associated with the user, wherein calculating includes:
extracting features indicating characteristics of the user's behavior from the user transaction history and user preferences using a first convolutional neural network;
determining user behavior attributes from the extracted features using a second convolutional neural network; and
calculating the user behavior metric based on the user behavior attributes;

determining financial account data associated with each of the plurality of financial accounts;
retrieving, from the database, a user behavior metric associated with the user, wherein the user behavior metric is calculated based on user transaction history relating to the plurality of financial accounts;
determining, using an optimization algorithm, a preferred financial account from the plurality of financial accounts based on the user preferences, the financial account data, the merchant information, and the user behavior metric; and
selecting, based on the determination, the preferred financial account to complete the transaction.

20. A non-transitory computer-readable medium storing instructions that, when executed by at least one processor, cause the at least one processor to operate an account system for optimizing transactions for a user, comprising:
receiving card information associated during a transaction at a merchant system, wherein the card information includes a single account number associated with a plurality of financial accounts associated with the user;
receiving, from

Assignees

• Capital One Services Llc

Inventors

• Novis Austen

Classifications

• G06Q20/405

  Establishing or using transaction specific rules · CPC title

• G06Q20/227 Primary

  characterised in that multiple accounts are available, e.g. to the payer · CPC title

• G06Q20/322

  Aspects of commerce using mobile devices [M-devices] · CPC title

• G06N20/00

  Machine learning · CPC title

• G06Q20/3572 Primary

  Multiple accounts on card · CPC title