Offset optimization system

US7792727B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Debashis Ghosh · Charlotte, US
• Yanghong Shao · Charlotte, US
• David Joa · Irvine, US
• Kurt D. Newman · Matthews, US
• Sudeshna Banerjee · Waxhaw, US
• Thayer Allison · Charlotte, US
• Arun R. Pinto · Charlotte, US
• Preston Wesley Ports, III · Charlotte, US
• Mark V. Krein · Charlotte, US

Key dates

• Filing date: Oct 21, 2008
• Grant date: Sep 7, 2010
• Expiry date: Oct 21, 2028

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/00
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems, methods, and computer program products are provided for optimizing amounts collected in an offset action where a creditor garnishes funds from a debtor's deposits account to satisfy delinquent debt payments. In operation, embodiments of the present invention leverage a deposits account's transaction history to detect a deposit pattern for the account and, based on the detected pattern, predict the date of the next large deposit to the garnishable account. An offset associate, using the present invention, can then schedule the offset action to occur on the expected date of the next large deposit.