Customer behavior modification system based on undesired financial behavior

 

US8417584B2

Physiological response of a customer during financial activity

Ross Erik Stephen, Charlotte, NC, US 

Bank of America Corporation, Charlotte, NC, US 

Pub: 2013-04-09 

Filed: 2010-07-29

Abstract 

A server behavior modification system assists a customer during a financial activity, such as a transaction, and includes a current financial activity assistance system having a data collection system for collecting current physiological activity data, such as current electrodermal activity data, and a data manipulation system for assessing the likelihood of vulnerability to a predetermined undesired financial behavior, as defined by customer input received by a customer settings definition system. The assessment is based at least in part on the data manipulation system comparing a combined historical behavior pattern with the collected current data. The combined historical behavior pattern comprises a correlation between historical physiological activity data and historical financial activity data. An alerting system instructs a customer behavior modification system to produce an alert based at least in part on an assessment of likely vulnerability to a predetermined undesired financial behavior.

GPS…

Global positioning data, of course, represents the location of the customer. Such location information is useful to the system 502 in that, the global positioning data can represent, locations of particular concern for the customer. For example, in one embodiment, the customer sets a goal not to eat ice cream, and inputs settings (see step 120) indicating to the system that ice cream stores are locations where there is a vulnerability for undesired financial behavior, namely in this case, purchasing (and eating) ice cream. The system 502, taking into account historical global positioning data as well as historical financial activity data, can train to alert the customer to the proximity of an ice cream store. In this regard, the system 502 can assist the customer by reminding the customer of the potential vulnerability. Then, if the customer does act on the vulnerability, the system can store a record of the action (see step 450 discussed below) so that the customer can later evaluate his or her performance. Furthermore, as discussed with regard to step 320 (discussed below), the system 502 can provide incentives or rewards (such as approval or permission for making a purchase) for assisting the customer to improve their financial behavior. The present example involves one of the customer's vices—eating ice cream—which could be defined as the reward for improving financial behavior. In other embodiments wherein historical global positioning data is collected, the system 502 can recognize location of particularly lower vulnerability to negative financial behavior. For example, in one embodiment, the system 502 correlates beaches with areas where the customer is much less likely to make impulse purchases, and, in some embodiments, alerts the customer as the customer travels away from areas of high vulnerability, such as, for example, a retail mall, and toward, for example, the beach.

Mobile App…

For example, in some embodiments, the mobile device includes a display such as a colored LED display configured for alerting the customer with a red colored alert when the customer is more vulnerable, a yellow alert when the customer is somewhat vulnerable and a green alert when the customer is less vulnerable. In the example discussed above regarding global positioning data, the system 502 can alert the customer with a red alert when the customer is proximate a retail mall, a yellow alert as the customer moves away from the retail mall, and a green alert when the customer moves toward the beach.

Alert support partners…
In such cases, various alerting mechanisms can be used to alert the customer to vulnerability, and as discussed herein, various rewards, games and the like can be used to deter the customer during a time of vulnerability. In some embodiments, discussed herein, the alert is sent to one or more friends or family of the customer in the event of a predetermined level of vulnerability so that those people can provide the customer with increased accountability for financial behavior. In some embodiments, combining the examples discussed above, when the customer is within a predetermined distance of a periodical store during a particular time of day an alert is generated, either to the customer and/or to one or more accountability partners.

Bank freezes activity… the behavior modification system communicates with the financial institution, such as with the server behavior modification system in order to enable suspension of specified account functionality, such as, for example, suspension of a credit or debit card account. In one embodiment, for example, the system enables a freeze period for purchases over a certain predetermined threshold. In some embodiments, the freeze is enabled in response to a particular, in some embodiments, a predetermined, level of physiological activity. In some embodiments, the system communicates with the customer in order to keep the customer apprised of their behavior. In some embodiments, the system tracks the customer's habitual behavior, such as, for example, compulsive eating, and when the customer's physiological state is excited, the system communicates, either over a short range wireless protocol or over a long range protocol, and in some embodiments, across the Internet. In one example, the customer overeats, and the system is configured to, upon a determined vulnerability, communicate with electronics embedded with the refrigerator, cabinets, and/or pantry in order to lock them, thereby providing a reasons for the customer to pause during a moment of weakness.