Data processing: financial – business practice – management – or co – Automated electrical financial or business practice or... – Finance
Reexamination Certificate
1999-06-30
2002-02-19
Trammell, James P. (Department: 2161)
Data processing: financial, business practice, management, or co
Automated electrical financial or business practice or...
Finance
C705S042000
Reexamination Certificate
active
06349290
ABSTRACT:
FIELD OF THE INVENTION
This invention relates generally to customized and personalized presentation of products and services, and more particularly to an automated system and method for presenting customized and personalized product and service messages to customers of a financial institution, such as a bank.
BACKGROUND OF THE INVENTION
In the early days of telephony, it was determined that a single operator was needed for every ten adult citizens. This problem was solved by the introduction of electronic switching systems, which provided automated, self-service enabling universal access and ubiquitous service. Self-service telephone access, for example, to a financial institution, such as a bank, was a great convenience at the time. However, financial institutions, such as banks, typically want to learn more about their individual customers' financial needs and operational styles, in order to be able to personalize and customize individual consultative sessions and to provide the best possible transactional sessions to customers. They also want to be able to provide “mass customization” of individualized consultative sessions to deepen customer relationships. These goals are not possible with currently available self-service systems.
Current systems are intended to capture electronic presentation to customers of certain products and services and to push or encourage customers to purchase a certain product that matches a customer's perceived need. Some of these tailoring products include direct use of such interfaces as the Internet or call center agents. However, currently available tailoring products are typically designed for groups of customers and make no distinction between individual customers. In other words, such systems rely on a one-size-fits-all approach, in which one or two or three sizes must fit all customers.
In the financial services sector, as a financial institution, such as a bank, expands its customer base, and as people become more and more involved in determining their own financial destinies by taking charge of their own financial matters, the complexity and spectrum of financial options cannot be handled on a simple one-size-fits-all basis. Instead, banks and other financial institutions need a system that presents not only the means to offer the customer an umbrella of services and products, but also to serve the individual needs of a customer significantly better than any operator can. Such a system, when applied, for example, to a bank's customer interactive systems, would remove the need for agent intervention, except for the technically resistant customer, and would offer a significant competitive advantage within the service center technology arena and in the application of Internet technology.
SUMMARY OF THE INVENTION
It is a feature and advantage of the present invention to provide an automated method and system for presenting customized and personalized product and service messages that allows a financial institution, such as a bank, to retain customers and attract new customers, while maintaining the lowest possible cost of agent support staff.
It is another feature and advantage of the present invention to provide an automated customization and personalization product and service message presentation system and method that revolves around intelligent engines that self learn, and couple extracted customer's business needs and operational style with the bank's broadest set of products and services.
It is a further feature and advantage of the Present invention to provide an automated customization and personalization product and service message presentation system and method that is dynamic and constantly adapts to new products and services, as well as to the ever-changing needs of customers.
It is an additional feature and advantage of the present invention to provide an automated customization and personalization product and service message presentation system and method which enables a financial institution, such as a bank, to vastly expand its customer base in a cost-effective manner.
It is another feature and advantage of the present invention to provide an automated customization and personalization product and service message presentation system which differentiates the services of a financial institution, such as a bank, by enabling the bank to provide “mass customization” of individualized consultative sessions to deepen customer relationships.
It is an additional feature and advantage of the present invention to provide an automated customization and personalization product and service message presentation system which provides the best possible transactional sessions to customers that consistently satisfy and exceed customer intents.
It is a further feature and advantage of the present invention to provide an automated customization and personalization system and method for presentation of product and service messages which eliminates distance barriers by providing global access at a very attractive cost.
It is a still further feature and advantage of the present invention to provide an automated customization and personalization system and method for presentation of product and service messages which adapts itself to any customer, at any location, for example, by being able to recognize the customer as an individual, rather than as a member of a class, and tailors its offerings to satisfy specific customer needs, regardless of worldwide location.
It is an additional feature and advantage of the present invention to provide an automated customization and personalization system and method for presentation of product and service messages which supports any major interface access, such as Internet, voice calls, call centers, automated teller machines (ATM), e-mail, and associated distribution technologies such as cable, wireless, pagers, and the like.
It is another feature and advantage of the present invention to provide an automated customization and personalization system and method for presentation of product and service messages which easily disseminates information regarding new products and/or services to the most interested customers and those who would likely subscribe to such products and/or services.
It is an additional feature and advantage of the present invention to provide an automated customization and personalization system and method for presentation of product and service messages which easily updates products and/or services offerings, as they become available.
It is another feature and advantage of the present invention to provide an automated customization and personalization system and method for presenting product and service messages which scales architecturally in a cost-effective manner, such as by architecture that lends itself to natural, modular growth as the usage of the system increases, and that is scaleable to allow growth without incurring undue cost for re-architecting and re-deploying the system.
It is a further feature and advantage of the present invention to provide an automated customization and personalization system and method for presenting product and service messages which offers a high degree of reliability in that, for example, system hardware not only scales to allow growth, but also guarantees a high degree of reliability as a part of the hardware, as well as the operating systems running the systems that collectively provide the functionality of the system, and the overall networking plan that provides a similar degree of reliability in data transmission. The token is a routable entity that allows applications and systems for an embodiment of the present invention to make decisions on various aspects, such as agent skills, methods of interaction (automated or assisted service) with a customer, and the like, and it triggers decisions by the systems. The token interfaces the various applications and systems and influences decisions, but primarily functions as a routable entity between applications and ultimately routes the customer. The token manages sessions wi
Ambrose Mark
Fetta Michael
Hakim Steve
Horowitz Edward
Kaufman Michael
Citibank N.A.
Elisca Pierre E.
Kilpatrick & Stockton LLP
Marcou George T.
Trammell James P.
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