Bottomline Technologies has been granted a patent for a system that scores customers of a financial institution based on their financial data. The system includes a central database, a central server, and a display unit. It also includes modules for configuring criteria, receiving and processing data, and computing and displaying scores. The system aims to evaluate customer relationships and provide tailored incentivized programs. GlobalData’s report on Bottomline Technologies gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Bottomline Technologies, dynamic storage rebalancing was a key innovation area identified from patents. Bottomline Technologies's grant share as of September 2023 was 52%. Grant share is based on the ratio of number of grants to total number of patents.
System for scoring customers of a financial institution based on financial data
A recently granted patent (Publication Number: US11756115B2) describes a system for evaluating a customer's relationship with a financial institution based on their financial data. The system includes a central database, a central server, and a display unit. It consists of multiple modules that perform various functions.
One of the modules is a criteria configuration module that allows users to configure input parameters for evaluating the customer. This module includes a metric module to receive values related to the input parameters, a duration module to define the evaluation duration, a measurement module to define transformation criteria for the input parameter values, and a weightage configuration module to apply weightage to each input parameter.
The system also includes a data module that receives customer financial data and personal data from the central database. A computation module is coupled with the data module and the criteria configuration module to compute a score for each customer using the input parameters defined in the metric module. The computation module includes a metric evaluation module that computes and applies the transformation criteria to the input parameter values. It consists of a balance module to extract amount values against balance heads in the customer's account and compute aggregates of the balance heads. Additionally, a service usage module computes average service usage fees, total service usage counts, and total service usage fees over a user-defined time period.
Other modules in the system include an aggregation level module for rolling up values at the account or customer level, a rolling window module for configuring the evaluation duration, and a scoring module to automatically compute and display the score of customers based on the aggregated values.
The score generated by the system assists the financial institution in providing tailored incentivized programs to the customer. The system can also include modules for setting a score threshold value, extracting financial transaction values, computing average transaction amounts and counts, applying filters to create customer sub-sections, generating unique identifiers for customers, anonymizing customer data, defining and labeling score ranges, and extracting portfolio size values.
Overall, this patented system provides a comprehensive and automated approach for evaluating a customer's relationship with a financial institution based on their financial data, allowing for personalized incentivized programs to be offered.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
