Reallocation of resources system

Patent metadata

Field	Value
Publication number	US-2017193474-A1
Application number	US-201614987008-A
Country	US
Kind code	A1
Filing date	Jan 4, 2016
Priority date	Jan 4, 2016
Publication date	Jul 6, 2017
Grant date	—

Abstract

Embodiments of the invention are directed to a system, method, or computer program product for providing a reallocation of resources contextual visual element and double verification requirement for resource distribution. In this way, the system identifies goals associated with a user and generated contextual visual elements associated with those goals. Based on a triggering event, the system displays the customized contextual visual element on a display of the user's device locking the functionality of the user device for a period of time the contextual visual element is displayed. Furthermore, the system may integrate and code a double verification requirement into resource distribution applications, requiring secondary authentication and additional verification for resource distribution.

First claim

What is claimed is:

1 . A system for reallocation of resources, the system comprising:
a memory device with computer-readable program code stored thereon; a communication device; a processing device operatively coupled to the memory device and the communication device, wherein the processing device is configured to execute the computer-readable program code to:
determine resources available to a user including real-time resource balances, budgets, and goals for the resources;
generate a contextual visual representation of a goal product or service for the resources;
store the generated contextual visual representation on a mobile device associated with a user, wherein the contextual visual representation is coded for display based on a triggering event;
identify, on the mobile device associated with the user, one or more applications associated with resources, wherein the identified one or more applications are third party applications and allow the user to transfer resources;
generate a double verification requirement for the one or more applications associated with resources, wherein the double verification requirement is an authentication for transferring resources via the one or more application;
input the double verification requirement into the one or more applications, wherein inputting the double verification requirement includes inputting code that requires the user to verify using the double verification prior to allowing the application to transfer resources;
identify the triggering event; and
present the generated contextual visual representation on a display associated with the mobile device via an alert based on the identification of the triggering event, wherein the generated contextual visual representation upon presentation, locks the functionality of the mobile device for a predetermined time period.

2 . The system of claim 1 , wherein generating a contextual visual representation of a goal product or service for the resources further comprises generating a customized contextual visual representation of the goal product or service in use in an environment of the user.

3 . The system of claim 1 , wherein presenting the generated contextual visual representation on a display associated with the mobile device via an alert comprises presenting a goal product or service in the environment of the user and locking the contextual visual representation on the display of the mobile device preventing functionality of the mobile device for a period up to 10 seconds.

4 . The system of claim 1 , wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant comprises identifying products in an online shopping cart associated with the user.

5 . The system of claim 1 , wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant is based on GPS location of the mobile device being collocated with a merchant point of sale terminal.

6 . The system of claim 1 , wherein the double verification requirement for the one or more applications associated with resources includes code embedded into the one or more applications preventing the one or more applications from functioning to transfer resources without a passcode authorization via the double verification requirement independent from a log in to the one or more applications.

7 . The system of claim 6 , wherein upon receiving a successful passcode authorization the double verification requirement is lifted and the one or more application functionality is restored to transfer resources.

8 . The system of claim 1 , wherein resources comprise financial resources of the user.

9 . A computer program product for reallocation of resources, the computer program product comprising at least one non-transitory computer-readable medium having computer-readable program code portions embodied therein, the computer-readable program code portions comprising:
an executable portion configured for determining resources available to a user including real-time resource balances, budgets, and goals for the resources; an executable portion configured for generating a contextual visual representation of a goal product or service for the resources; an executable portion configured for storing the generated contextual visual representation on a mobile device associated with a user, wherein the contextual visual representation is coded for display based on a triggering event; an executable portion configured for identifying, on the mobile device associated with the user, one or more applications associated with resources, wherein the identified one or more applications are third party applications and allow the user to transfer resources; an executable portion configured for generating a double verification requirement for the one or more applications associated with resources, wherein the double verification requirement is an authentication for transferring resources via the one or more application; an executable portion configured for inputting the double verification requirement into the one or more applications, wherein inputting the double verification requirement includes inputting code that requires the user to verify using the double verification prior to allowing the application to transfer resources; an executable portion configured for identifying the triggering event; and an executable portion configured for presenting the generated contextual visual representation on a display associated with the mobile device via an alert based on the identification of the triggering event, wherein the generated contextual visual representation upon presentation, locks the functionality of the mobile device for a predetermined time period.

10 . The computer program product of claim 9 , wherein generating a contextual visual representation of a goal product or service for the resources further comprises generating a customized contextual visual representation of the goal product or service in use in an environment of the user.

11 . The computer program product of claim 9 , wherein presenting the generated contextual visual representation on a display associated with the mobile device via an alert comprises presenting a goal product or service in the environment of the user and locking the contextual visual representation on the display of the mobile device preventing functionality of the mobile device for a period up to 10 seconds.

12 . The computer program product of claim 9 , wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant comprises identifying products in an online shopping cart associated with the user.

13 . The computer program product of claim 9 , wherein the triggering event further comprises identification that the user is preparing to transact with a merchant, wherein identifying that the user is preparing to transact with the merchant is based on GPS location of the mobile device being collocated with a merchant point of sale terminal.

14 . The computer program product of claim 9 , wherein the double verification requirement for the one or more applications associated with resources includes code embedded into the one or more applications preventing the one or more applications from functioning to transfer resources without a passcode authorization via the double verif

Assignees

• Bank Of America

Inventors

• Cole Kevin T
• Hsieh Matthew
• Enscoe Scott R
• Bullock Caitlin Chrisman

Classifications

• G06Q20/3224

  Transactions dependent on location of M-devices · CPC title

• G06Q20/401

  Transaction verification · CPC title

• G06Q30/0633

  Managing shopping lists, e.g. compiling or processing purchase lists (shipping orders G06Q10/083; order filling G06Q10/087) · CPC title

• G06Q20/108 Primary

  Remote banking, e.g. home banking · CPC title

• G06Q20/3221

  Access to banking information through M-devices · CPC title