SOCIAL MEDIA GRAPHICAL INTERFACE SYSTEM

Organization Name

Capital One Services, LLC

Inventor(s)

Bor J. Sun of San Francisco CA (US)

Mark Mendez of Richmond VA (US)

Jonathan R. Turfboer of Richmond VA (US)

Philip Kedy of Midlothian VA (US)

George H. Williams of Midlothian VA (US)

Matthew S. Butterworth of Richmond VA (US)

SOCIAL MEDIA GRAPHICAL INTERFACE SYSTEM - A simplified explanation of the abstract

This abstract first appeared for US patent application 18646166 titled 'SOCIAL MEDIA GRAPHICAL INTERFACE SYSTEM

Simplified Explanation: The patent application describes systems and methods for providing rewards to customers of financial-service providers based on their referrals via social media.

Customers can earn rewards for referring others to the financial-service provider.
Referrals are tracked by gathering data from messages shared on social media platforms.
Rewards are given based on the referrals made by the customer, encouraging them to initiate business transactions.

Key Features and Innovation:

Incentivizing customers to refer others to financial-service providers.
Tracking referrals through data gathered from social media messages.
Providing rewards based on the referrals made by customers.

Potential Applications: This technology can be applied in various industries where customer referrals play a significant role in acquiring new business, such as banking, insurance, and investment services.

Problems Solved: This technology addresses the challenge of incentivizing customers to refer others to financial-service providers, ultimately increasing customer acquisition and retention.

Benefits:

Encourages customer referrals through social media.
Increases customer engagement and loyalty.
Drives business growth through referrals and rewards.

Commercial Applications: The technology can be used by financial institutions to boost customer referrals, improve brand awareness, and attract new clients, ultimately leading to increased revenue and market share.

Questions about Social Media Referral Rewards: 1. How does this technology track customer referrals through social media? 2. What are the potential benefits of incentivizing customers to refer others to financial-service providers?

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Original Abstract Submitted

Systems and methods are disclosed for providing social media referrals based rewards to a customer. The systems and methods may provide incentives to customers of financial-service providers (“FSP”) based on their referrals to the FSP. Customer referrals may be determined for the customer by gathering data regarding referrals received from messages distributed by the customer via social media. Based on the referrals, an amount of rewards may be provided for business transactions initiated by the customer.