Transaction Visualization Using Experience Sets
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Solution Overview
Problem
Current financial management systems fail to provide users with a clear and user-centric visualization of transaction data, as they rely on merchant category codes that are primarily merchant-focused and lack context, leading to inaccurate chronology and difficulty in understanding spending patterns.
Innovation Solution
A method for improved visualization of transaction data that groups related transactions into 'experience sets' based on temporospatial and logical relationships, using a scalable system architecture with experience matchers to identify and prioritize transactions, allowing users to view expenses in the context of experiences rather than individual transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If transactions are displayed individually with merchant category codes, then transaction details are provided, but user understanding of spending patterns becomes difficult
Solution Approach 1:
The patent combines multiple individual transactions into grouped visual representations called 'experience sets' that aggregate transactions by merchant category, location, and time period. This merging approach preserves spending pattern information while reducing visualization complexity by displaying grouped data rather than individual transaction lines.
Solution Approach 2:
The patent introduces additional visualization dimensions including spatial mapping (geographic location), temporal grouping (time periods), and categorical aggregation (merchant types) to transform the flat list of individual transactions into a multi-dimensional view that reveals spending patterns more effectively.
2Measurement precision
If transactions are ordered by settlement dates, then chronological accuracy is improved, but user-perceived transaction order becomes inaccurate
Solution Approach 1:
The patent applies different ordering criteria to different aspects of transaction display: settlement dates are used for accurate chronological recording, while user-perceived order (authorization dates or logical sequences) is used for display purposes. This local differentiation allows both accuracy and usability to be optimized for their respective functions.
3Extent of automation
If standard merchant category codes are used, then transaction categorization is automated, but user customization and relevance are limited
Solution Approach 1:
The patent implements a dynamic categorization system that starts with automated merchant category code assignment but allows users to dynamically create, modify, and customize their own category structures. The system adapts from static standard categories to flexible user-defined categories, maintaining automation benefits while gaining customization versatility.
Data Source
AI summary
Provided, in an aspect, is a method for improved visualization of transaction data from a financial services computer network. The method includes receiving, at a computing device, a plurality of experience sets; presenting, on a display of the computing device, a graphical user interface (GUI); and updating the GUI in response to receiving a revision to the plurality of experience sets. Each experience set contains one or more transactions that relate to each other. The GUI includes a scrollable list having at least a portion of the experience set name for experience sets within a selected time period; and a calendar for the time period showing, for each day with at least one experience, a graphical element indicative of a total of all experience set amounts in that day.