Description:TECHNICAL FIELD
[001] The present invention relates generally to a system for financial data management of a client and method thereof.
BACKGROUND
[002] Even today, financial institutions do not use a single standard interface, data format, or communication protocol to provide and exchange financial data on-line. Investors who want a single source of portfolio information have to move all of their assets to a single large investment industry vendor. However, such large vendors may not necessarily offer simple, easy access and a single source for financial information. Furthermore, despite the availability of “one-shop” institutions, many investors do not want to use a single institution because diversification across many institutions allows investors to get the “best” offerings from a variety of vendors.
[003] Many companies offer various subscription services accessible via the Internet. For example, many people now do their banking, stock trading, shopping, and so forth from the comfort of their own homes via Internet access. One problem that is encountered by an individual who has several or many such subscriptions to Internet-brokered services is that there are invariably many passwords and/or log-in codes to be used. Often a same password or code cannot be used for every service, as the password or code may already be taken by another user. A user may not wish to supply a code unique to the user such as perhaps a social security number because of security issues, including quality of security that may vary from service to service. Additionally, many users at their own volition may choose different passwords for different sites so as to have increased security, which in fact also increases the number of passwords a user may have.
[004] Therefore, there is a need of a system which overcomes the aforementioned problems.
SUMMARY
[005] Embodiments of the present disclosure present technological improvements as solutions to one or more of the above-mentioned technical problems.
[006] Before the present subject matter relating to a system for financial data management of a client and method thereof, it is to be understood that this application is not limited to the particular system described, as there can be multiple possible embodiments which are not expressly illustrated in the present disclosure. It is also to be understood that the terminology used in the description is for the purpose of describing the implementations or versions or embodiments only and is not intended to limit the scope of the present subject matter.
[007] This summary is provided to introduce aspects related to a system for financial data management of a client and method thereof. This summary is not intended to identify essential features of the claimed subject matter nor is it intended for use in determining or limiting the scope of the present subject matter.
[008] In an embodiment, a system for financial data management of a client is disclosed. The system includes a client interface, a database, a processor and a storage device. The client interface is configured to receive financial data input from a user. The database for storing said financial data. The processor is configured to analyze said financial data. The processor is configured to generate financial reports based on said analysis. The processor is configured to provide said financial reports to said user via said client interface. The storage device coupled to the processor unit is configured to information and to retrieve financial information of a customer by connecting over a network to each of two or more unrelated financial institutions.
[009] In another embodiment, a method for managing financial data of a client is disclosed. The method includes the step of receiving financial data input from a user via a client interface. The method includes the step of storing said financial data in a database. The method includes the step of analyzing said financial data using a processor. The method includes the step of generating financial reports based on said analysis. The method includes the step of providing said financial reports to said user via said client interface.
BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS
[0010] The foregoing detailed description of embodiments is better understood when read in conjunction with the appended drawings. For the purpose of illustrating the disclosure, there is shown in the present document example constructions of the disclosure; however, the disclosure is not limited to the specific system or method disclosed in the document and the drawings.
[0011] The present disclosure is described in detail with reference to the accompanying figures. In the figures, the left-most digit(s) of a reference number identifies the figure in which the reference number first appears. The same numbers are used throughout the drawings to refer various features of the present subject matter.
[0012] Figure 1 is a diagram illustrating the interface of the present information aggregation and synthetization system with a user in accordance with the present invention.
[0013] Figure 2 is a general diagrammatical representation of a portfolio manager connected to a communications network.
[0014] Figure 3 is a block diagram illustrating a summarization software agent and capabilities thereof according to an embodiment of the present invention.
[0015] Figure 4 illustrates a process flow diagram for a software agent advertising insertion aspect of the present invention.
[0016] In the above accompanying drawings, a non-underlined number relates to an item identified by a line linking the non-underlined number to the item. When a number is non-underlined and accompanied by an associated arrow, the non-underlined number is used to identify a general item at which the arrow is pointing.
[0017] Further, the figures depict various embodiments of the present subject matter for purposes of illustration only. One skilled in the art will readily recognize from the following discussion that alternative embodiments of the structures and methods illustrated herein may be employed without departing from the principles of the present subject matter described herein.

DETAILED DESCRIPTION
[0018] Some embodiments of this disclosure, illustrating all its features, will now be discussed in detail. The words "comprising," "having," "containing," and "including," and other forms thereof, are intended to be equivalent in meaning and be open ended in that an item or items following any one of these words is not meant to be an exhaustive listing of such item or items, or meant to be limited to only the listed item or items. It must also be noted that as used herein and in the appended claims, the singular forms "a," "an," and "the" include plural references unless the context clearly dictates otherwise. Although a system for financial data management of a client and method thereof, similar or equivalent to those described herein can be used in the practice or testing of embodiments of the present disclosure, the exemplary, a system for financial data management of a client and method thereof is now described.
[0019] Various modifications to the embodiment will be readily apparent to those skilled in the art and the generic principles herein may be applied to other embodiments. For example, although the present disclosure will be described in the context of a system for financial data management of a client and method thereof, one of ordinary skill in the art will readily recognize a system for financial data management of a client and method thereof can be utilized in any situation. Thus, the present disclosure is not intended to be limited to the embodiments illustrated but is to be accorded the widest scope consistent with the principles and features described herein.
[0020] In an embodiment, a system for financial data management of a client is disclosed. The system includes a client interface, a database, a processor and a storage device. The client interface is configured to receive financial data input from a user. The database for storing said financial data. The processor is configured to analyze said financial data. The processor is configured to generate financial reports based on said analysis. The processor is configured to provide said financial reports to said user via said client interface. The storage device coupled to the processor unit is configured to information and to retrieve financial information of a customer by connecting over a network to each of two or more unrelated financial institutions.
[0021] In another implementation, the financial data comprises data related to income, expenses, assets, liabilities, and investments.
[0022] In another implementation, the financial reports comprise budget summaries, investment performance reports, and financial goal progress reports.
[0023] In another implementation, a security module configured to encrypt said financial data stored in said database.
[0024] In another implementation, the client interface is accessible via a web application, a mobile application, or a desktop application.
[0025] In another implementation, the processor receives a communication from a client computer to initiate a display of at least some of the generated financial portfolio.
[0026] In another embodiment, a method for managing financial data of a client is disclosed. The method includes the step of receiving financial data input from a user via a client interface. The method includes the step of storing said financial data in a database. The method includes the step of analyzing said financial data using a processor. The method includes the step of generating financial reports based on said analysis. The method includes the step of providing said financial reports to said user via said client interface.
[0027] In another implementation, financial data comprises data related to income, expenses, assets, liabilities, and investments.
[0028] In another implementation, financial reports comprise budget summaries, investment performance reports, and financial goal progress reports.
[0029] In another implementation, the method includes the step of encrypting said financial data stored in said database using a security module.
[0030] Figure 1 is a diagram illustrating the interface of the present information aggregation and synthetization system with a user in accordance with the present invention.
[0031] In an embodiment, the interface of the present system 200 with a user on a user access system 100 and various data sources. A theme or definition of a class of information (e.g., central California travel and tourism or new automobiles) is identified. Data sources (Local DataStores (500 . . . N) and Network Accessible DataStores (300 . . . N)) are screened for relevance, quality of information and appropriateness (or may be included de facto based on their title or description). These are indexed using a text indexing software tool 2981 and the indices stored on the system index DataStore 220. This initial set of agents is relevant to the searches that might be performed against the class of information that was indexed. (i.e., Agents about automobiles would be developed to search for a class of indexed information about new cars). These are stored in the Preestablished Software Text Agent DataStore 231. The System 200 uses any multipurpose computer central processing units with the ability to handle multiple inputs and outputs with the necessary hard disk storage and to run the World Wide Web (WWW) or other network server software.
[0032] The Operators will add data to the local datastores (500 . . . N) and users using a user access system 100 will nominate data from the network accessible datastores (300 . . . N) to be added to the index datastore 220. Operators will update the indices using the data indexing service 2981 if the data passes the screening outlined in the initial setup for users above. Users using a user access system 100 access the information aggregation and synthesization system 200 through the Internet or other public or private network. The user either logs in by name or by pseudonym or from data previously stored in the user access system 100. New users create an account on the user profile datastore 210. Previous users are identified to an existing account. The user is presented with a variety of options to create or update profile information in the user profile datastore 210. This involves a single data entry option or many mini-options based on the browsing activity. The user is also presented with browsing options based on: activity from a previous session in the browsing activity datastore 240; predeveloped software text agents and personalized software text agents (developed in the Post Session Activity) stored in the Personal Search Text Agent DataStore 232; or combinations of all as well as situational opportunities developed by the user greeting subsystem 291.
[0033] The requested data is retrieved either from local datastores (500 . . . N) or network accessible datastore (300 . . . N) and presented to the user via the session management system 292. The user may jump to data referenced in the presented data. Subject to the appropriate policies of the site operation, the session management system 292 will further retrieve and present this data to the user. The user may request that data be overlaid on a geographic display using the Geographic Display I/O System 287 so that referenced information may have geographic relevance. The user interrupt system 294 will periodically notify the user of specialized software text agents that they may want to pursue. These Agents are stored in the agent datastore 230 and are derived by the real time session analysis system 295 which monitors the browsing activity datastore 240 during the user's session. During the session, ads/coupons are inserted alongside displayed data (text, picture or index displays) from the ad datastore 250, based on ad/coupon insertion agents 233 and inserted by the session management system 292.
[0034] Users using the user access system 100 will be able to establish persistent (stays in the system after the user quits using the system) software text agents which describe some criteria, which, if met, will cause them to be notified. These are stored in the unmet needs agent datastore 234. These unmet needs agents 234 are analyzed using the unmet needs analysis system 299 and reports are created through the I/O System 280 for suppliers who could potentially meet those needs. This is a network addressable interface device, such as a conventional personal computer capable of initiating and maintaining a network connection and sending, receiving and displaying data including a digitized data visual representation device such as a monitor and auxiliary storage, such as a floppy disk drive. It may also be a TV set, smart telephone or network appliance with similar capabilities. It will maintain a connection through a modem (a modulator/demodulator device) that enables data to be transmitted and received.
[0035] Figure 2 is a general diagrammatical representation of a portfolio manager connected to a communications network.
[0036] In an embodiment, portfolio manager 10 provides access to financial information available via network 20. In an exemplary embodiment, network 20 is the Internet, a worldwide network of computer networks that use various protocols to facilitate data transmission and exchange. Network 20 can use a protocol, such as, the TCP/IP network protocol or the DECnet, X.25, and UDP protocols. In alternative embodiments, network 20 is any type of network, such as, a virtual private network (VPN), an Ethernet, or a Netware network. Further, network 20 can include a configuration, such as, a wide area network (WAN) or a local area network (LAN). Network 20 preferably provides communication with Hypertext Markup Language (HTML) Web pages 30 and 40. Web pages 30 and 40 include a variety of data on a variety of Web servers. A customer or client can access portfolio manager 10 via a web page 30 or 40 which is conveyed to the client at computer 52 or 54. In an exemplary embodiment, portfolio manager 10 is embedded in the web site of a financial vendor. As such, portfolio manager 10 can help attract and retain investors to the web site of the financial vendor, significantly increasing the frequency, duration, and quality of visits by the investor to the web site.
[0037] Computers 52 or 54 can be any type of computing device, including workstations, laptops, notebooks, personal digital assistants (PDAs), cell phones, beepers, or other equipment capable of communication with network 20. In another embodiment, portfolio manager 10 can be accessed via telephones, such as, a cell phone 12 or a standard telephone 14. Portfolio manager 10 can include a sophisticated web crawler that gathers account data from financial institutions by parsing data from financial institutions, including data in formats, such as, Hypertext Markup Language (HTML), Open Financial Exchange (OFX), Quicken Interchanged Format (QIF), and ASCII files having tab- or comma-delimited values (e.g., a format suitable for importing into spreadsheet applications). Portfolio manager 10 can also directly connect to data servers, such as OFX servers and back-office accounting systems, without relying on web crawling or similar techniques.
[0038] Figure 3 is a block diagram illustrating a summarization software agent and capabilities thereof according to an embodiment of the present invention.
[0039] In an embodiment, summarization agent 67, hereinafter termed gatherer 67, is a programmable and interactive software application adapted to run on a network server. Gatherer 67 may, in one embodiment, be integrated with portal software 35 and be provided in the form of a software module separate from agent 39. Gatherer 67 has a client/service interface layer 69 adapted to enable directive input from both a client (user) and a knowledge worker or workers associated with the service. A browser interface 77 is provided in layer 69 and adapted to provide access to application 67 from a browser running on a client's PC or other Internet or network appliance. Interface 77 facilitates bi-directional communication with a user's browser application (not shown) for the purpose of allowing the user to input summary requests into gatherer 67 and receive summary results. Layer 69 also comprises a unique input scripting module 79 that is adapted to allow a human knowledge worker to create and supply directive scripts containing the site logic needed by gatherer 67 to find and retrieve data from a WEB site. In this case, gatherer 67 executes and runs on a network server such as server 31.
[0040] An appliance configuration module 83 is provided and adapted to allow a user to define and configure an Internet appliance to communicate with the service and receive summary information. A navigation layer 73 is provided and adapted to perform the function of external site navigation and data gathering for gatherer 67. To this end, a communication interface/browser control module 85 is provided and adapted to function as a WEB browser to access WEB sites containing WEB data. Control 85 receives its instruction from the scripted template created by the knowledge worker. A parsing engine 87 is provided and adapted to parse individual WEB sites according to a template created via scripting module 79. Parsing engine 87 may be a Pearl engine, an IE HTML engine, or any other or combination of known parsing engines. The template (not shown) tells control 85 and parsing engine 87 where to go and what fields at the destination site to look for to access desired data.
[0041] A data processing layer 75 is provided and adapted to store, process, and present returned data to users according to enterprise rules and client direction. A database interface module 89 is provided and adapted to provide access for gatherer 67 to a mass repository such as repository 29 of FIG. 1, for the purpose of storing and retrieving summary data, templates, presentation directives, and so on. Gatherer agent 67 may also access data through interface 89 such as profile information, user account and URL information, stored site logics and so on. Data scanned from the WEB is stored in a canonical format in a database such as repository 29, or in another connected storage facility. A summarization page module 91 is provided and adapted to organize and serve a WEB summary page to a user. Module 91, in some embodiments, may immediately push a WEB summary to a user, or module 91 may store such summarized pages for a user to access via a pull method, in which case a notification may be sent to the user alerting him of the summary page availability. In another embodiment, plug-ins enabling communication with gatherer 67 may be provided and configured to run on other network devices for the purpose of enabling such a device to initiate a request and get a response without the need for a desktop computer.
[0042] Figure 4 illustrates a process flow diagram for a software agent advertising insertion aspect of the present invention.
[0043] In an embodiment, advertising is provided which benefits the user while optimizing the advertiser's expenditure by only presenting ads or coupons (or ads and coupons in a rotation if multiple ads/coupons qualify) that are pertinent to that particular user. Certain criteria will be entered which delineates a pattern that is requested to be monitored. When this pattern is seen (or is in close match) in the user's WWW activity, the insertion mechanism is activated. The advertising may be static or connected to the advertiser's computer datastore which designates specific ads or coupons based on the pattern match and other conditions which may be required. The software agent criteria is entered by the merchant in the agent data store 230 which delineates a pattern that needs to be monitored. Browsing patterns of the user are analyzed and these patterns update profiles automatically.
[0044] Although the description provides implementations of a system for financial data management of a client and method thereof. it is to be understood that the above descriptions are not necessarily limited to the specific features or methods or systems. Rather, the specific features and methods are disclosed as examples of implementations for a system for financial data management of a client and method thereof.
, Claims:We claim:
1. A system for financial data management of a client, comprising:
a client interface configured to receive financial data input from a user;
a database for storing said financial data;
a processor configured to:
i. analyzes said financial data;
ii. generate financial reports based on said analysis; and
iii. provide said financial reports to said user via said client interface;
a storage device coupled to the processor unit configured to information and to retrieve financial information of a customer by connecting over a network to each of two or more unrelated financial institutions.
2. The system as claimed in claim 1, wherein said financial data comprises data related to income, expenses, assets, liabilities, and investments.
3. The system as claimed in claim 1, wherein said financial reports comprise budget summaries, investment performance reports, and financial goal progress reports.
4. The system as claimed in claim 1, further comprising a security module configured to encrypt said financial data stored in said database.
5. The system as claimed in claim 1, wherein said client interface is accessible via a web application, a mobile application, or a desktop application.
6. The system as claimed in claim 1, wherein the processor receives a communication from a client computer to initiate a display of at least some of the generated financial portfolio.
7. A method for managing financial data of a client, comprising:
receiving financial data input from a user via a client interface;
storing said financial data in a database;
analyzing said financial data using a processor;
generating financial reports based on said analysis; and;
providing said financial reports to said user via said client interface.
8. The method as claimed in claim 7, wherein said financial data comprises data related to income, expenses, assets, liabilities, and investments.
9. The method as claimed in claim 7, wherein said financial reports comprise budget summaries, investment performance reports, and financial goal progress reports.
10. The method as claimed in claim 7, further comprising encrypting said financial data stored in said database using a security module.