Chime Financial. has been granted a patent for a system that generates a multi-transaction dispute package. The method involves receiving a dispute request, classifying the initial transaction, identifying related transactions, and allowing users to select additional disputes for processing. GlobalData’s report on Chime Financial 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 Chime Financial, Virtual banking assistant was a key innovation area identified from patents. Chime Financial's grant share as of July 2024 was 38%. Grant share is based on the ratio of number of grants to total number of patents.
Multi-transaction dispute package generation for financial transactions
The patent US12073410B2 outlines a computer-implemented method for managing transaction disputes within user accounts. The process begins with receiving a dispute request from a client device, which includes details about an initial disputed transaction. The method employs a combination of machine learning and heuristic models to classify the dispute based on transaction metadata, categorizing it into types such as unauthorized transactions, device malfunctions, or non-receipt of goods. Following classification, the system identifies related transactions within the user account to create a multi-transaction dispute package. This involves selecting appropriate machine learning models, encoding the dispute classification, and processing the data to present potential transactions for user selection.
Additionally, the patent details further functionalities, such as the ability to refine potential transaction identification through heuristic models and to analyze transaction metadata based on various criteria like date and merchant type. The system can also generate a timeline of resolution events for the disputed transactions and provide ranked listings of potential transactions based on relevance. The method allows for user interaction through queries and responses to enhance dispute classification accuracy. Overall, the patent presents a comprehensive approach to streamline the dispute resolution process, leveraging advanced data analysis techniques to improve user experience and efficiency in handling transaction disputes.
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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.
