18234984. PAYMENT MILESTONES FOR IMPROVED FINANCIAL HEALTH simplified abstract (Apple Inc.)

PAYMENT MILESTONES FOR IMPROVED FINANCIAL HEALTH

Organization Name

Apple Inc.

Inventor(s)

Aaron M. Melim of San Francisco CA (US)

Christine A. Franco of Menlo Park CA (US)

Glen W. Steele of San Jose CA (US)

Mischa K. Mclachlan of San Francisco CA (US)

Michael Artemiw of San Jose CA (US)

Ashish C. Nagre of Sunnyvale CA (US)

David T. Haggerty of San Francisco CA (US)

Fadi S. Obeid of Santa Clara CA (US)

Katie M. Mcindoe of San Jose CA (US)

Richard W. Heard of San Francisco CA (US)

Rima Kakarla of Mountain View CA (US)

Akila Suresh of San Jose CA (US)

Jarad M. Fisher of Los Angeles CA (US)

PAYMENT MILESTONES FOR IMPROVED FINANCIAL HEALTH - A simplified explanation of the abstract

This abstract first appeared for US patent application 18234984 titled 'PAYMENT MILESTONES FOR IMPROVED FINANCIAL HEALTH

Simplified Explanation

The disclosed technology is about providing customized payment options to customers based on their total amount owed and past payments made. The goal is to encourage financial health without overwhelming the customer.

• Enhanced financial statements provide customized payment options to customers.
• The options consider the total amount owed and past payments made by the customer.
• The goal is to encourage financial health without overwhelming the customer.
• The options are displayed in an interactive user interface that visually informs the user of the benefits of each option on their financial health.

Potential Applications

• Banking and financial institutions can use this technology to provide customized payment options to their customers.
• Credit card companies can utilize this technology to offer payment plans that encourage financial health.

Problems Solved

• Customers often struggle to find the best payment option for their financial situation.
• Financial institutions may not have a system in place to provide customized payment options based on individual circumstances.

Benefits

• Customers can make informed decisions about their payment options, leading to better financial health.
• Financial institutions can improve customer satisfaction by offering personalized payment plans.
• The technology helps strike a balance between providing enough payment options and not overwhelming the customer.

Original Abstract Submitted

The disclosed technology provides enhanced financial statements such as credit statements that provide customized payment options to a customer that takes into account the total amount owed by the customer, and past payments made by the customer. The customized payment options are determined with the goal of providing more payment options that encourage financial health, while not overwhelming the customer with too many options or irrelevant options. The customized payment options can be displayed in an interactive user interface for paying a credit statement that can visually inform a user of the benefit of the respective payment options with respect to the impact of the respective payment option on the customer's financial health—at least as it pertains to a credit account for which the statement was issued.