17973223. DYNAMIC PURCHASING POWER VISUALIZATION simplified abstract (Capital One Services, LLC)

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DYNAMIC PURCHASING POWER VISUALIZATION

Organization Name

Capital One Services, LLC

Inventor(s)

Martin Figueroa-ramirez of Silver Spring MD (US)

Jennifer Kwok of Brooklyn NY (US)

Susan Hogan Davis of Alexandria VA (US)

Tara Ann Hickey of Herndon VA (US)

DYNAMIC PURCHASING POWER VISUALIZATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 17973223 titled 'DYNAMIC PURCHASING POWER VISUALIZATION

The abstract describes a patent application related to determining and communicating purchasing power through a visualization using a machine learning model.

  • Trained machine learning model predicts dynamic spending limit on a credit card without a preset limit.
  • Purchasing power computed as the difference between dynamic spending limit and current balance.
  • Purchase power class determined based on purchasing power.
  • Graphic representation of purchasing power class determined.
  • Graphic representation overlaid on or around the physical card for presentation.
      1. Potential Applications:

This technology could be applied in the financial sector to provide users with real-time insights into their purchasing power, helping them make informed financial decisions.

      1. Problems Solved:

This technology addresses the challenge of accurately determining an individual's purchasing power without a preset credit limit, providing a dynamic and personalized solution.

      1. Benefits:

- Empowers users with a clear understanding of their financial capabilities. - Enhances financial decision-making by visualizing purchasing power. - Improves user experience by presenting information in a clear and accessible manner.

      1. Commercial Applications:

The technology could be utilized by credit card companies, banks, and financial institutions to offer enhanced services to their customers, leading to increased customer satisfaction and loyalty.

      1. Questions about Purchasing Power Visualization:
        1. 1. How does the machine learning model predict the dynamic spending limit on a credit card?

The machine learning model uses credit card data or credit score data to predict the dynamic spending limit based on a user's financial profile.

        1. 2. What are the potential implications of overlaying a graphic representation of purchasing power on a physical card?

Overlaying a graphic representation of purchasing power on a physical card can provide users with a visual cue of their financial status, potentially influencing their spending behavior.


Original Abstract Submitted

Disclosed embodiments pertain to determining and communicating purchasing power through a visualization. A trained machine learning model can be invoked on a credit card without a preset limit to predict a dynamic spending limit based on credit card data or credit score data. Purchasing power can be computed as the difference between the dynamic spending limit and a current balance, and a purchase power class can be determined based on the purchasing power. Further, a graphic representation of a purchasing power class can be determined. Subsequently, presentation of the graphic representation can be triggered in a manner that overlays the graphic representation on or around the physical card.

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