Real-time spend management with savings goals

US9256876B2 · kind B2 · utility

Assignee

• FMR LLC · US

Inventors

• Ninad Vasant Akole · Savanuru, IN
• Jayesh Rajagopalan Chakravarthi · Savanuru, IN
• Prasad Murari Hebbar · Savanuru, IN

Key dates

• Filing date: Feb 3, 2014
• Grant date: Feb 9, 2016
• Expiry date: Feb 3, 2034

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/405
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A computer-implemented method, including receiving, by one or more computer systems, a withdrawal request for withdrawal of funds from one or more financial accounts; determining, by the one or more computer systems, whether a discretionary balance of the one or more financial accounts is greater than or equal to an amount of the withdrawal request, with the discretionary balance being based on an amount of funds that are available in the one or more financial accounts and a portion of the available funds allocated to a savings goal; causing an approval of the withdrawal request when the discretionary balance is greater than or equal to the amount of the withdrawal request; and sending a real time notification to a client device of a user associated with the one or more financial accounts when the discretionary balance is less than the amount of the withdrawal request with a real time opportunity for the user to reduce funds allocated to savings goals if required and thereby increasing the discretionary balance to facilitate the approval of withdrawal request.