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Community Rewards

A community and geographic area technology, applied in the field of community return, which can solve problems such as customer association difficulties

Inactive Publication Date: 2011-10-05
BANK OF AMERICA CORP
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

However, businesses located in multiple districts may find it difficult to relate to customers in any one community due to their broader focus

Method used

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  • Community Rewards
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Examples

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Embodiment Construction

[0028] Embodiments of the invention will now be described more fully hereinafter with reference to the accompanying drawings, in which some, but not all embodiments of the invention are presented. Of course, the invention may be embodied in many different forms and should not be construed as limited to the embodiments set forth herein; rather, these embodiments are provided so that these disclosures will satisfy applicable legal requirements. Like numbers refer to like elements throughout.

[0029] It is understood that terms like "bank" and "financial institution" are used herein in their broadest sense. Institutions, organizations or even individuals that process financial transactions vary widely in their organization and structure. The term financial institution is intended to include all such possibilities including, but not limited to, eye banks, finance companies, securities brokerages, credit unions, savings and loans, mortgage companies, insurance companies, credit c...

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PUM

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Abstract

Embodiments of the invention provide methods, apparatuses, and computer program products for providing community rewards. For example, systems and methods are provided for: (1) accessing transaction data associated with a particular financial institution; (2) determining a threshold; (3) identifying from the transaction data a group of transactions associated with a predefined community and time period; (4) aggregating a particular aspect of the group of transactions associated with the predefined community to determine a community total: and (5) determining that a reward should be provided to the community based on a comparison of the community total and the threshold. In some embodiments, the predefined community is defined by a particular geographic area. In other embodiments, the predefined community is created by the consumers themselves.

Description

technical field [0001] In general, embodiments of the invention relate to methods, apparatus, and computer program products for providing community rewards for community-based transactions. Background technique [0002] Today, people are becoming more community oriented so that people in their respective communities try to reinvest back into their communities. For example, people often seek to finance businesses located in or involved in their local communities. People in a given community also learn about that community through local activities and participation in local organizations. This involvement in local events and organizations often leads to a better understanding of the needs and opportunities of the relevant local community. In this way, people try to make their local communities better. People also like to feel as if they are part of a community working together to achieve a common goal. Therefore, systems and methods are often needed to help people become m...

Claims

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Application Information

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Patent Type & Authority Applications(China)
IPC IPC(8): G06Q10/00G06Q40/00G06Q30/00
CPCG06Q30/0226G06Q30/0224G06Q30/02
Inventor D·乔T·J·马克H·U·米尔S·纳贾拉让K·D·纽曼
Owner BANK OF AMERICA CORP