SYSTEMS AND METHODS FOR CONSOLIDATING ACCOUNTS

Organization Name

Capital One Services, LLC

Inventor(s)

Anne Moshyedi of Washington DC (US)

Lindsay Ngo of Arlington VA (US)

Suchitra Jayaraman of Newark DE (US)

Kelly Chen of Arlington VA (US)

SYSTEMS AND METHODS FOR CONSOLIDATING ACCOUNTS - A simplified explanation of the abstract

This abstract first appeared for US patent application 18152260 titled 'SYSTEMS AND METHODS FOR CONSOLIDATING ACCOUNTS

The abstract describes a system for consolidating accounts, where data is received for a user, a primary account is determined, and notifications are displayed to indicate the consolidation of accounts.

System for consolidating accounts
Receives user data
Determines primary account using machine learning
Displays notifications on user device
Normalizes features of accounts
Consolidates accounts based on recommendations

Potential Applications: - Personal finance management - Streamlining online account access - Simplifying account management for businesses

Problems Solved: - Reducing the complexity of managing multiple accounts - Improving user experience by consolidating accounts - Enhancing security by centralizing account information

Benefits: - Increased efficiency in account management - Enhanced user convenience - Improved data security and privacy

Commercial Applications: Title: "Efficient Account Consolidation System for Enhanced User Experience" This technology can be utilized by financial institutions, e-commerce platforms, and any organization with multiple user accounts to streamline account management processes and improve user satisfaction.

Questions about Account Consolidation: 1. How does the system determine the primary account for consolidation? The system uses machine learning algorithms to analyze user data and identify the most suitable primary account based on various factors.

2. What are the benefits of consolidating accounts for users? Consolidating accounts can simplify account management, improve security, and enhance the overall user experience by providing a centralized view of all accounts.

Original Abstract Submitted

Disclosed embodiments may include a system for consolidating accounts. The system may receive data corresponding to a user. The system may determine, via a first MLM and based on the data, a first account of a plurality of accounts to use as a primary account. The system may cause a user device to display, via a GUI, a first notification indicating the first account as the primary account. The system may normalize, via a second MLM, respective feature(s) of second account(s) of the plurality of accounts in comparison to the respective feature(s) of the first account. The system may cause the user device to display, via the GUI, a second notification indicating a consolidation of the second account(s) into the first account based on the normalized respective feature(s). The system may consolidate the second account(s) into the first account based on the second recommendation.