Targeted Content Delivery System Using Financial Data Classification
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Solution Overview
Problem
Current Internet advertising technologies, such as behavioral targeting, are limited in their ability to accurately target consumers based on their financial capabilities and purchasing habits, as they rely on website tracking and do not account for spending habits outside of the advertiser's own platforms, leading to ineffective ad delivery.
Innovation Solution
A system and method that utilizes a database and processor to classify consumers based on financial information, creating targeted lists for delivering personalized content, including advertisements, by associating anonymous identifiers with financial data from financial institutions, allowing for targeted content delivery to devices used by consumers after they log onto affiliated applications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If behavioral targeting based on website tracking is used, then advertising can be directed to users based on their browsing habits, but the accuracy of targeting is limited because it does not reflect actual purchasing capability or spending habits
Solution Approach 1:
The patent introduces financial institution data as an intermediary source to bridge the gap between website tracking and actual purchasing behavior. By obtaining spending habit information from financial institutions (banks, credit card companies), the system achieves more accurate targeting while maintaining user privacy through anonymized data aggregation.
Solution Approach 2:
The patent transitions from one-dimensional website browsing tracking to a multi-dimensional approach that incorporates financial transaction data, income information, and spending patterns. This dimensional expansion enables more comprehensive and accurate consumer profiling beyond what website tracking alone can provide.
2Adaptability or versatility
If individual retailers track customer purchasing habits on their own websites, then they can provide personalized advertisements, but they cannot access or know about purchases made at other retailers
Solution Approach 1:
The patent creates a universal data aggregation system that consolidates purchasing habit information from multiple retailers and financial institutions into a single centralized database. This multi-functional platform enables any participating retailer to access comprehensive consumer spending data across all retailers, breaking down silos while maintaining data privacy through anonymized aggregation.
3Productivity
If financial information is collected and processed to create consumer classifications, then targeted advertising effectiveness is improved, but consumer privacy and anonymity may be compromised
Solution Approach 1:
The patent creates anonymized copies of financial data that retain useful spending pattern information while removing personally identifiable details. These sanitized data copies enable advertising targeting without exposing actual consumer identities, allowing the system to work with aggregated statistical representations rather than raw personal information.
Solution Approach 2:
The patent merges financial data from multiple sources (banks, credit card companies, retailers) into a single anonymized pool where individual transactions are indistinguishable from aggregate data. This combination approach enables comprehensive consumer profiling while diluting any single data point's ability to identify or target specific individuals, thereby protecting privacy.
Data Source
AI summary
A system for delivering targeted content to a device includes a database and a processor. The database stores anonymous identifications for a plurality of customers of a financial institution. Each anonymous identification is associated with financial information for a respective customer of the financial institution. The processor includes software that is configured to classify consumers, create a targeted list of content viewers, and deliver a targeted advertisement over a network to a device used by a content viewer on the targeted list. The classifications can be based on the financial information associated with each anonymous identification. The target list of content viewers can be based on at least one selected classification. The advertisement can be delivered to a device used by a content viewer on the targeted list after the device has been used to log onto an application offered by the at least one financial institution.