Offset optimization system

US8645245B2 · 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: Jul 30, 2010
• Grant date: Feb 4, 2014
• Expiry date: Aug 14, 2031

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 attaches funds from a debtor's deposits account to satisfy overdue 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 attachable 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.