Note: Descriptions are shown in the official language in which they were submitted.
CA 02320572 2000-09-22
SYSTEM AND METHOD FOR AUTOMATED MANAGEMENT OF TRANSACTION INFORMATION
TECH1VICAL FIELD
The present invention relates generally to the management of transaction
information
and in particular to automated accumulation, tracking, and presentation of
individual's
pecuniary andlor otherwise valuable assets and liabilities.
CA 02320572 2000-09-22
2
BACKGROUND
With the advent of personal computers the way in which persons, businesses,
and
other entities (referred to herein as individuals) conduct their affairs has
changed. For
example, an individual has been empowered to conduct many transactions
electronically.
Many financial institution now offer the capability for an individual to check
account
balances, transfer funds (both between accounts with that financial
institution and to accounts
external to that financial institution), and even issue negotiable
instruments, i.e., checks,
electronically.
With the proliferation of the Internet, providing a substantially ubiquitous
electronic
interface, electronic commerce has become commonplace. F'or example,
individuals may
acquire information, services, and goods (all of which are referred to herein
also as items),
both hard, i.e., physical products, and soft, i.e., items of value embodied at
least transiently in
electronic form, from anywhere in the world using their personal computer and
a network
data connection.
The ability to conduct transactions on such a scale has resulted in the world
becoming
much smaller with respect to commerce. The availability of the world's
commerce resources
to individuals has provided opportunities and possibilities never before
attainable to the
average individual. However, commerce on a global scale has also presented the
average
individual with transactional information, both historical and potential,
which is beyond the
individual's capability to assimilate and comprehend without the aid of
automated
processing. Unfortunately, current technology has not evolved to the point
where this
information, varied in content, source, nature, and format, can be easily and
directly
accumulated, tracked, andlor presented by automated means.
Accordingly, individuals are saddled with increased time requirements, and
very
likely increased stress, in attempting to intelligently evaluate alternatives
and opportunities in
order to wisely conduct transactions. Alternatively, individuals must conduct
transactions
without having fixlly considered all information relevant to the conducting of
the transaction.
As such, many individuals are reluctant to utilize any or all the
transactional capabilities of a
robust network such as the Internet. Those who do utilize the Internet often
find themselves
CA 02320572 2000-09-22
3
"surfing," i.e., interacting with, the various information systems of the
network for hours in
order to visit various host sites or nodes and accumulate data relevant to the
transaction at
hand, i.e., compare the goods offered by various electronic commerce vendors
(it should be
appreciated that the term vendor or vendors as used herein is intended to
include providers of
S information as well as providers of services and/or goods, whether in
exchange for money, or
money equivalents, or for any other motivation).
Conducting transactions via a network such as the Internet, where an
individual has
ready access to such a large number of vendors and such a large amount of
information, is
generally very time consuming because there is no clearly defined way of
conducting
transactions. For example, just locating the appropriate information in the
vast sea of
available information can be unpredictable and fiwstrating for the casual or
novice user.
There are quite a few network search engines at a user's disposal, each of
which has their
own limitations, such as the way in which they parse and/or search the
available information,
and presenting unique and inconsistent interfaces to the user. Additionally,
the way in which
each vendor presents information desirable to an individual in a particular
transaction and the
way in which the vendor interacts with an individual in conducting a
transaction varies
significantly from vendor to vendor. Accordingly, it is often a very fi-
ustrating experience to
conduct electronic transactions, especially to those individuals who are not
predisposed to the
use of technology. This may result in the underutilization of such a powerful
resource.
Accordingly, a need exists in the art for systems and methods which provide a
simple and
consistent interface, or portion thereof, to the user regardless of the source
and/or type of
information presented or transaction conducted.
Many individuals are very concerned about the security of their private or
sensitive
information when conducting electronic transactions. Some individuals are
simply not
comfortable utilizing such imperceptible communications for exchanging
transaction related
information, such as credit card information, social security number, and even
historical or
demographic information. This discomfort may arise from the apprehension that
the
information may be intercepted by a rogue while in transit over the network.
Additionally or
alternatively this discomfort may be associated with exchanging sensitive
information with a
CA 02320572 2000-09-22
4
faceless and relatively unknown vendor entity which may commit some sort of
fraud on the
individual or which may sell or otherwise distribute some or all of the
individual's
information. Accordingly, a need exists in the art for a means of conducting
transactions that
instills in the user confidence in the privacy and security of information
used thereby.
Because the widespread and instantaneous, or substantially instantaneous,
availability
of information, services, and/or goods through electronic means, such as the
Internet,
provides the potential for very efficient transactions, both in pecuniary
costs and more
intangible costs such as time, the use of technology is not only likely to be
common, but most
likely prevalent. However, for any form of commerce to survive and flourish,
it must win the
confidence of its users. Accordingly, a need exists in the art for systems and
methods for
conducting transactions which instil an acceptable level of confidence in the
users.
In the past commerce has been mostly conducted at the advantage of the
vendors.
This has been because these vendors have been in a relative position of
control of the
transaction. For example, the consumer was in a position of having to invest
significant
resources, such as physically or electronically visiting the various vendors,
to accumulate
information usefizl in conducting the desired transaction. However, the
vendor's relative
position of control appears to be eroding in the new ways of commerce. As the
consuming
individual becomes more at ease with the use of technology useful in
conducting desired
transactions, the individuals are more able to drive and, therefore, control
these transactions.
Accordingly, a need exists in the art for systems and methods which may be
adopted by
vendors in order to distinguish themselves from others such as by presenting
user-fi-iendly
and/or private or secure environment for the consuming individuals.
CA 02320572 2000-09-22
SUMMARY OF THE INVENTION
These and other objects, features and technical advantages are achieved by a
system
and method which proactively maintains an individuals numerous transactional
affairs.
Preferably, the present invention utilizes a system adapted to communicate
with various
information sources, such as vendor host systems, in order to maintain up-to-
date information
regarding the transactions of a particular individual. In a preferred
embodiment, this
information, regardless of its source or even the type of information, is
presented to the user
in a consistent manner through a uniform interface.
The present invention provides a more focused approach to acquiring,
assimilating,
and presenting data, preferably through the use of algorithms adapted to
identify and query
pertinent information, in order to reduce an individual's time expenditure in
making
transaction related determinations. Accordingly, the present invention
substantially
eliminates mundane operative tasks, such a operating a computer to interact
with host site
after host site, formerly required of a user in order to intelligently conduct
a transaction.
Accordingly, the present invention operates to create an information and
transaction
environment which works for the individual rather than the individual being
required to labor
to acquire desired information etcetera. As such, the preferred embodiment of
the present
invention proactively gives the user the desired and/or relevant information
and manipulates
and/or presents this information in a way to efficiently guide the individual
in his/her decision
making.
With the relatively recent advent of electronic commerce trading, most of the
vendors
of these services and goods are still learning and formulating their concepts
and strategies for
marketing, enticing the consumer, and distinguishing themselves from other
vendors.
Presently these vendors are tailoring their approaches from vendor's
perspective as has been
the case in traditional "bricks and mortar" type paradigms.
However, even with the more tedious interaction required by users of
electronic
commerce today, there is pressure for vendors to adopt a business paradigm to
separate this
particular vendor from the plethora of other vendors equally accessible to the
individual
CA 02320572 2000-09-22
6
conducting a particular transaction. When operation of the present invention
is employed,
thus empowering users to readily, and even passively, accumulate and
assimilate the
information necessary to intelligently and confidently conduct transactions,
it is expected that
vendors will be further pressured to adopt such business paradigms.
Accordingly, it is
envisioned that such vendors will be eager to adapt their user interfaces to
comply with the
concepts and operation of the present invention, thus causing the
implementation of the
present invention to invoke a synergy of use and compatibility.
In addition to the use of the present invention to empower users to make more
informed decisions, in order to facilitate the adoption of operation of the
present invention by
vendors, the preferred embodiment of the present invention is adapted to
include features
desirable to vendors. Accordingly, the most preferred embodiment of the
present invention is
specifically adapted to provide functionality and features symbiotically
desirable to both
users and vendors. Specifically, the present invention is preferably adapted
to provide users
with a comfort level that he/she has something working in their interest and
providing reliable
and secure information exchange. Similarly, the present invention is
preferably adapted to
provide vendors with reliable and secure transactions with a low cost of
operation and in a
form attractive to their customers.
In achieving the above features and functionality, a preferred embodiment of
the
present invention provides network communication software, such as software
specifically
designed to operate over Internet data links and/or with Internet host
processors. Portions of
this network software, such as particular client modules, are preferably
integrable with widely
available user interfaces, such as "Internet browsers." Accordingly, operation
of the present
invention, or portions thereof, may be employed or invoked behind the scenes,
i.e., in a
background task of a multi-tasking user environment, without any substantial
hindrance to the
user and, preferably, without requiring their active attention. For example,
every time the
user is in communication with the network, such as when a connection is
established with the
user's Internet service provider (ISP), a client module of the present
invention may be
activated, and/or the module may be programed to activate at a particular
times or intervals,
to perform information communication, acquisition, and/or assimilation. As
such, the present
CA 02320572 2000-09-22
7
invention may operate to bring all the user's transactional data and affairs
up-to-date and,
through manipulation and presentation according to the present invention, into
perspective.
The information which the above described module may operate with preferably
includes a particular individual's debt or expenditure information (mortgages,
credit card debt
checks, bank debt, etcetera), asset or income information (bank account,
trading account,
retirement account, stocks, bonds, property values, etcetera), and/or earnings
or awards
information (frequent flyer credits, earned coupons, earned vouchers,
etcetera). Of course,
there is a vast variety of information, such as relevant to transaction
decision making and
transaction historical data, now available or later to be developed that is
within the scope of
the present invention.
In a most preferred embodiment, an individual provides particular transaction
relevant
information to configure a program of the present invention to operate in a
manner desired by
the individual. Accordingly, an individual may establish in a software module
of the present
invention such information as the identity of vendors the individual has
accounts established
with and information regarding those accounts. Similarly, the individual may
provide
information regarding the type of transactions, services, goods, or similar
information the
individual is interested in. The individual's information so provided may
include data
associated with the above described information in order to facilitate
operation of the present
invention, such as passwords, cryptographic key information, digital signature
information,
digital certificates, and/or the like.
Thereafter, such as in a background operation when the user is connected to a
network, the present invention may operate to solicit, acquire, communicate,
transmit, and/or
assimilate information (accumulate and exchange of information) with respect
to this
individual's indicated interests for storage, analysis, compilation, and/or
presentation
(manipulation of information). For example, the present invention may poll an
individual's
identified financial institution to constantly or periodically update a
database of the
individual's assets. Similarly, the present invention may use the individual's
account
information to determine the current interest rate on a the individual's
variable rate mortgage
or to track interest rates on a new or refinance mortgage the individual's
profile indicates.
CA 02320572 2000-09-22
g
Accordingly, the present invention centralizes and automates the tasks of
keeping track of the
individual's transaction information and provides better records, more up-to-
date records, and
maintains them more accurately. Such automation substantially reduces keyboard
entries on
both ends of the transaction because, when software according to a preferred
embodiment of
the present invention is activated, it automatically operates substantially
without any input
from the keyboard, accessing the vendors' databases.
It should be appreciated that accumulation of information, such as the
aforementioned
tracking of interest rates, may not only be at the direction of the individual
according to the
present invention, but may also be based on artificial intelligence
determinations derived
automatically. For example, accumulation of information regarding current
interest rates may
be instigated automatically from the information that the individual has a
mortgage account
with a lending institution and that current mortgages are being offered at a
more attractive
rate.
Moreover, it should be appreciated that accumulation and exchange of
information is
not limited according to the present invention to times at which the
individual is otherwise
connected to a network such as the Internet. For example, if a predetermined
period of time
elapses in which no such connection is otherwise established, the present
invention may
operate to establish a network connection itself. This connection is
preferably established in
a manner which is not disruptive to the user and does not interfere with the
user's other tasks.
Accordingly, a preferred embodiment operates to establish such connections as
a background
task or during idle or substantially system idle times.
A preferred embodiment of the present invention is adapted to automatically
integrate
accumulated information into processes external to the software of the present
invention: For
example, a database of an individual's personal finance software, such as
QUICKEN
available from INTUIT, may be updated automatically from operation of the
present
invention.
A preferred embodiment of the present invention additionally or alternatively
provides an efficient, and preferably secure, protocol by which transactions
may be
conducted. Such transactions coordinated by operation of the present invention
include data
CA 02320572 2000-09-22
9
exchanges of desired information as well as exchanges of monetary equivalent
value or other
transaction authorization for desired items. Accordingly, adoption of the
present invention by
users and vendors establishes a common and uniform protocol by which
information may be
exchanged and transactions consummated.
In a most preferred embodiment the protocol established by the present
invention for
exchanging transaction authorizations establishes a means by which an
individual is never
required to provide sensitive information to an unknown, or relatively
unknown, vendor.
Accordingly, a preferred embodiment of the present invention establishes a
method by which
an individual authorizes an independent known, and trusted, party to credit a
portion of that
individual's monetary equivalent value to the particular relatively unknown
vendor.
Accordingly, the individual user can be shielded from disclosing sensitive
information to
anyone but the trusted third party. Additionally, the vendor can be assured
that the transfer of
the monetary equivalent value is authentic as, presumably, the independent
third party is also
known to, and trusted by, the vendor, such as in the case of an established
banking institution
or the like.
Accordingly, in doing an electronic commerce transaction, the user will not be
required to give his credit card numbers or account numbers or any sensitive
information to
the vendor of the desired item. Instead, the user deals with his trusted bank
or financial
institution and that financial institution will issue a payment authorization
and/or arrange for
payment to the vendor. Accordingly, the present invention provides users with
a high level of
confidence in the safety and security of transactions conducted therewith.
Moreover, this paradigm is also advantageous to the vendor because he does not
need
to independently seek authorization for the individual's transaction, confirm
that the
individual is trustworthy, or even maintain paper records of the transaction
because the
individual's financial institution will directly credit the vendor's account,
whether it is with
that particular financial institution, with another financial institution, or
even a vault or
database maintained on or with the vendor's equipment. As a trusted financial
institution, the
vendor can be confident that the transaction is truly and fully funded. This
is advantageous to
the vendor as the vendor is then enabled to shift his/her emphasis from those
physical pieces
CA 02320572 2000-09-22
of paper or other payment tracking and/or collection system to the business
that the vendor is
actually involved with. The vendor's income earnings are handled much like
cash
transactions, although electronic, from the trusted third party directly to
the vendor's earnings
database. For example, the vendor could electronically store all approvals for
direct
reconciliation with the vendor bank's database records for that particular
month.
Accordingly, the present invention not only eases the transactional operations
for the vendor,
but it also provides efficiencies in terms of vendor cash flow, security, and
overall ease of
operations.
It should also be appreciated that the present invention is not limited to
network
10 connections, such as the aforementioned Internet, for the accumulation and
exchange and/or
manipulation of information. For example, operation of the present invention
may utilize
more direct links to particular information sources, such as direct dedicated
communication
links to particular host systems, dial up connections.to particular host
systems, and the like.
Moreover, the preferred embodiment of the present invention is adapted to use
combinations
of such various links in order to accumulate and exchange information
sufficient to serve the
individual's desires.
A preferred embodiment of the present invention is adapted to provide a
uniform
interface or portion thereof, regardless of the vendor's transactions or data
the individual is
looking at. For example, once the present invention operates to accumulate and
exchange
information, this information is preferably stored and/or presented to the
individual in a
readily understandable format. Accordingly, regardless of the particular
source of
information, the preferred embodiment of the present invention provides a
uniform interface
to the user of the present invention.
Additionally, the preferred embodiment of the present invention provides
efficient and
intuitive access to the information desired by the individual. For example, a
preferred
embodiment logically collates information for user access, such as delineating
folders or
portfolios for particular vendors, folders or portfolios for particular types
of transactions,
folders or portfolios for categories of transaction information, etcetera. In
a preferred
software embodiment, a summary screen will have various subscreens and that
would be
CA 02320572 2000-09-22
11
associated with, for example, debtors, creditors, earnings, and/or electronic
commerce history
and tracking. It should be appreciated that collation of the information into
particular
classifications or categories according to the present invention need not be
exclusive. For
example, information associated with a particular vendor may be accessible
through a folder
identified with that vendor and also accessible through a folder identified
with a particular
category of transaction.
Accordingly, a user may simply launch the user interface to software of the
present
invention in order to be given a choice of particular information folders.
Preferably, the
initial presentation of the information folders includes a summary of the
individual's affairs,
i.e., summary of accounts showing balances and, possibly, a last transaction
and/or a tickler
for a scheduled future transaction. From this initial presentation, the user
is enabled to select
a particular folder to be presented information with respect to a desired
matter more detailed
than that presented in the above described summary. Of course, the detail
within such
selected folders may be hierarchal in that levels of folders may be selected
depending on the
particular information and level of detail desired. As described above, the
preferred
embodiment of the present invention provides a user interface more similar to
that which the
user is accustomed to on his/her own personal computer or his/her own files in
his/her own
office, rather than that of a large network of dissimilar hosts as is
currently presented via the
Internet.
An individual, at a glance, will be able see what his/her assets are, what
his/her
liabilities are, as well as information to help him/her in decision making for
future
transactions. Because information with respect to many aspects of the
individual's
transaction affairs are consolidated by the present invention, the future
transaction decisions
may be made more intelligently. Specifically, a user, in ten~ns of transaction
decision
making, would generally want to know his/her current position, what his/her
liabilities and
assets are. Based on this type of information, the user can preplan as to
whether to make new
investments, new purchases, or new transactions. This places the individual in
a more pro-
active consumer position, as opposed to a reactive consumer position. For
example, a
particular credit card account may be selected for a future transaction due to
a particular
CA 02320572 2000-09-22
12
promotional premium or premium milestone being available, i.e., the
transaction may result
in enough frequent buyer premium units to reach a desired goal.
A further aspect of the present invention provides for information
communication in
addition to that actually required or necessary to conduct a desired
transaction, thus
facilitating a more robust interaction between vendors and the individual. For
example, as a
part of the communication managed according to the present invention,
information not
necessarily directly related to a transaction at hand is provided for, such as
queries for
information from an agent not otherwise provided by a vendor host system.
Similarly,
queries of the individual by the vendor or his agents, such as clarification
of information
previously provided or additional information required in fully serving the
individual's
requests, may be facilitated by the present invention.
Such robust information exchange is provided in a preferred embodiment through
the
knowledge that there will predictably be information communication established
between-the
vendor and individual, such as through the above mentioned background
information
accumulation and exchange. Accordingly, for various of the above described
folders or
portfolios, such as for every respective company that the individual deals
with, a queries
action portion, such as a tab or button, can be provided to allow the
individual to submit
and/or receive queries or other, presumably less structured, information. This
information
may be exchanged during the above mentioned accumulation and exchange of
information
according to the present invention.
According to the preferred embodiment of the present invention, the vendor is
not
required to determine how and when to contact the individual. Instead, the
vendor can simply
configure a host according to the present invention and, thereafter, reap the
benefit of the
individual's accumulation and exchange of data. For example, an individual's
contact
information is subject to change and, according to the preferred embodiment of
the present
invention, the vendor need not determine this information in order to maintain
timely
communication with the individual.
The foregoing has outlined rather broadly the features and technical
advantages of the
present invention in order that the detailed description of the invention that
follows may be
CA 02320572 2000-09-22
13
better understood. Additional features and advantages of the invention will be
described
hereinafter which form the subject of the claims of the invention. It should
be appreciated by
those skilled in the art that the conception and specific embodiment disclosed
may be readily
utilized as a basis for modifying or designing other structures for carrying
out the same
purposes of the present invention. It should also be realized by those skilled
in the art that
such equivalent constructions do not depart from the spirit and scope of the
invention as set
forth in the appended claims.
CA 02320572 2000-09-22
14
BRIEF DESCRIPTION OF THE DRAWING
For a more complete understanding of the present invention, and the advantages
thereof, reference is now made to the following descriptions taken in
conjunction with the
accompanying drawing, in which:
FIGURE 1 shows a system adapted according to a preferred embodiment of the
present invention;
FIGURES 2-4 show flow diagrams of initializing information according to one
aspect
of a preferred embodiment of the present invention;
FIGURE 5 shows a flow diagram of information accumulation and exchange
according to a preferred embodiment of the present invention; and
FIGURE 6 shows a flow diagram of conducting a transaction according to a
preferred
embodiment of the present invention.
CA 02320572 2000-09-22
DETAILED DESCRIPTION
The present invention preferably provides an information exchange platform
adapted
to address the needs of both individuals and vendors alike, thus promoting
widespread
adoption of the systems and methods of the present invention and, thereby,
establish a
5 standardized transactional platform. The preferred embodiment of the present
invention is
adapted to assist in tracking all expenditures made by an individual, all
investments made by
an individual, all earnings of an individual, and/or all electronic commerce
transactions of an
individual. Additionally, a preferred embodiment of the present invention is
adapted to
provide security for electronic commerce transactions.
10 Preferably, the present invention is operable to communicate with various
information
sources, such as vendor host systems, in order to maintain up-to-date
information regarding
the transactions of a particular individual. For example, connection to
various information
sources according to operation of the present invention is shown in FIGURE 1
as network
100.
15 As shown in FIGURE 1, network 100 provides an individual information
communication through use of user system 110 connected to information sources,
such as
Internet service provider (ISP) system 121, host systems 122-125, 131, and
142, and user
system 141. Preferably, user system 110 is a microcomputer system such as the
well known
INTEL and MOTOROLA processor based personal computers widely available today.
Such
microcomputer systems typically include a central processor unit in
communication with
memory, such as random access memory (RAM) and disk storage devices, providing
user
input/output through a display device and a keyboard, mouse or other pointing
device, and/or
voice recognition interface. Of course, other systems suitable for providing
information
communication and processing may be utilized according to the present
invention, such as
mini-frame computers, main-frame computers, and telecommunications equipment,
such as
dual tone multiple frequency (DTMF) telephony response units or new generation
phones,
hand held devices, such as organizers and personal data assistants (PDA), and
even
interactive television devices. Information sources utilized according to the
present invention
CA 02320572 2000-09-22
16
may also incorporate microcomputers or other systems as described above with
respect to the
user system.
Preferably, user system 110 is adapted to communicate with information sources
for
information communication according to the present invention. For example,
user system
110 may establish communication with information sources available on the
Internet 120
through interface 11 l, which may be a modem, cable modem, T1 communication
interface,
satellite link, or the like. Additionally or alternatively, user system 110
may establish
communication with information sources available through a switched network,
such as
public switched telephone network (PSTN) 130, through interface 112, which may
be a
modem or other communication device. Likewise, user system 110 may
additionally or
alternatively establish communication with information sources available
through other
media, such as network 140 which may be a local area network (LAN), wide area
network
(WAN), or the like, through interface 113, which may be a modem, a network
interface card
(hTIC), or other communication device. It should be appreciated that user
system 110 may not
only be in communication with information sources typically thought of as host
systems, but
may also be in communication with other systems, such as user system 141 shown
connected
to network 140.
Systems of the present invention, or portions thereof, may be embodied in
software
programs, software program modules, software program components, and/or the
like. For
example, a server application of the present invention may be operable on an
information
source, such as host system 122, while a client application of the present
invention is operable
on a user system, such as user system 110. Each application is preferably
adapted to function
with a general purpose operating system such as WINDOWS available from
Microsoft
Corporation or MAC OS available from Apple Computer, Inc. Additionally or
alternatively,
systems of the present invention may be embodied in program applets, plug-ins,
and/or the
like. For example, a preferred embodiment of the present invention is
integrated with
commonly available browsers such as NETSCAPE NAVIGATOR, available from
Netscape
Communications Corporation, and INTERNET EXPLORER, available from Microsoft
Corporation, or other widely available user interfaces operable on user system
110.
CA 02320572 2000-09-22
17
Furthermore, systems of the present invention may be integrated into hardware
devices, such
as server processor units, application specific integrated circuits (ASIC),
and/or the like.
Irrespective of how the systems of the present invention are embodied, in a
preferred
embodiment information, regardless of its source or even the type of
information, is presented
to the user in a consistent manner through a uniform interface.
In understanding the present invention, it is helpful to consider its
operation with
reference to the particular types of data sources it will interact with.
Accordingly, the
discussion herein below will present detail of the present invention with
reference to such
data sources. However, it should be appreciated that such a discussion is not
intended to be
limiting on the present invention.
As previously mentioned, a preferred embodiment of the present invention
assists an
individual in keeping track of expenditures made by the individual, keeping
track of
investments made by the individual, keeping track of earnings of the
individual, and keeping
track of all the individual's electronic commerce transactions, as well as
providing security
for the associated information exchanges and/or transactions. Of course, it
should be
appreciated that alternative embodiments of the present invention may assist
individuals in
various combinations of the above listed aspects and/or other aspects not
specifically
identified above.
The preferred embodiment of the present invention provides a level of detail
with
respect to the individual's accounts or other status with the vendors much
greater than
previously available to the individual. This is because operation of the
present invention will
automatically assimilate this information in order to present the individual
user with
transaction information having considered fully, or substantially so, all
relevant information.
In the past, where an individual was required to both gather and assimilate
information from a
plurality of vendors in order to make an informed decision, it was typically
not possible to
reasonably manage the level of detail utilized by the present invention.
Moreover, as
discussed in more detail herein, the present invention, through analysis of
all the appropriate
vendor transactions of the individual in combination with the above described
high level of
detail, is able to more fully assist the individual in decision making.
CA 02320572 2000-09-22
18
It should be appreciated that it is in the vendor's interest to provide
information in a
format and/or with detail useful in practicing the present invention, such as
through operation
of the above mentioned server application, because benefits such as improved
and simplified
serving of individuals, reduced costs of transactions, and improved monetary
exchange will
be realized by the cooperating vendors. Moreover, as previously discussed, the
advent of
personal computers is changing the way in which individuals conduct their
affairs, providing
the ability to conduct transactions on such a scale has resulted in the world
becoming much
smaller with respect to commerce. Accordingly, vendors will be driven to adopt
business
paradigms, such as those offered by operation of the present invention, which
distinguish
them from the plethora of other vendors, or at the very least are on par with
the majority of
other vendors.
In keeping track of an individual's expenditures, and preferably their
associated
payments or other obligations, the preferred embodiment of the present
invention illustrated
in FIGURE 2 begins at step 201 with various cooperating credit vendors
providing their
1 S corresponding host systems, such as host systems 122-125, 131, and/or 142
of FIGURE 1,
with user credit and associated information. Such credit vendors may include
shops,
department, and discount stores having their own in house credit facilities,
financial
institutions providing store or specific credit lines, fuel companies,
traditional financial
institutions providing bank card, equity, mortgage, or other traditional
loans, insurance
companies, retirement plan management companies, etcetera. It should be
appreciated that
vendors which may provide/utilize information according to the present
invention are not
limited to those extending credit. For example, vendors dealing on a cash, or
"electronic
cash" basis with an individual may be managed substantially as described
herein with respect
to credit vendors.
The information provided by the credit vendors may be such information as
transaction detail, including date, item, amount, and the like, as well as
detail with respect to
payment history, accrued interest, prepayment/payment options, discounts or
incentives for
early payment, disincentives for late payment, promotions associated with or
available to the
account, and the like. It shall be appreciated that much of the above
information may akeady
CA 02320572 2000-09-22
19
be available in electronic form to the vendor, such as on an internal system,
and therefore
may require little more that linking data to an interface of the present
invention.
Additionally, some of the information of interest to a particular individual
may be equally of
interest, and equally applicable, to a plurality of individuals. For example,
all individuals
S with a particular type of account with a credit vendor may be eligible for
the same incentives.
Accordingly, categories of information may be established which are linked to
the
appropriate individual accounts, thus eliminating the need to separately input
and maintain
such information for each individual.
At step 202 of the preferred embodiment of FIGURE 2, the individual configures
an
associated user system, such as user system 110 of FIGURE 1, to include
information with
respect to credit vendors. For example, individual users may input into a
client module, as
described above, vendor and account details, such as identification of the
vendor, vendor
account numbers, user identification information, such as personal
identification number
(PII~ or password, and/or other useful information. Additionally, the user may
provide
information with respect to how the present invention is to utilize and/or
present information
with respect to any particular vendor. For example, the user may indicate that
a file or
portfolio, as well as various levels and/or sub-files or portfolios, should be
established with
respect to a particular individual for storage, analysis, compilation, and/or
presentation of
any information accumulated and/or exchanged with that particular vendor.
Additionally or
alternatively, the user may indicate that the information associated with a
particular credit
vendor is to be associated with a particular category of data, such as a bank
card folder
containing information with respect to all bank credit card accounts of the
individual.
Similarly, the user may instruct the present invention to link its
accumulation and exchange
of information with a pauticular vendor or vendors with systems external to
the systems of the
present invention, such as an accounting software program, spread sheet
software program,
personal finance software program, database software program, word processing
software
program, PDA, or the like.
Information provided to the user system by the individual according to the
present
invention may include sensitive information, such as PIN or password
information, account
CA 02320572 2000-09-22
information, and the like. Accordingly, information provided according to the
present
invention is stored in a secure manner, such as in encrypted form and/or
within a secure,
hidden, or limited access storage area. Additionally, this sensitive
information is preferably
only provided external to the system of the present invention in a secure
manner, such as
5 through the use of cryptography. Preferably however, most or all sensitive
information
provided to the present invention is never transmitted outside of systems of
the present
invention as the external systems needing such information have independent
access thereto.
For example, the user, who initially provided sensitive information to the
user system as well
as the financial institutions which provide transaction authorizations
according to the present
10 invention both have independent access to the sensitive information.
It should be appreciated that input of information by a user is not limited to
those
vendors cooperative to the operation of the present invention. For example, a
preferred
embodiment of the present invention may utilize macros or other techniques to
accumulate
and exchange information with a host system of a non-cooperating vendor.
Additionally or
15 alternatively, sufficient information may be provided to the system of the
present invention
by means other than communicating with a vendor's host system. For example, a
user may
directly input and subsequently update information relevant to a particular
vendor, the user
system may be adapted to accept input of tangible documents, such as through
the use of
optical character recognition (OCR), relevant to a particular vendor, or the
user system may
20 be adapted to accept information relevant to a particular vendor from a
separate source, such
as a stock ticker or other commonly available information source.
According to a preferred embodiment, at least a portion of information
provided to the
system of the present invention described above is provided without direct
input by a user.
For example, a user may identify a particular credit vendor with which the
user has an
account and, thereafter, the system may automatically operate to retrieve
information
regarding this vendor from the user or other system. For example, ones of the
above
mentioned external systems may include information relevant to the particular
vendor that
may be accessed by the present invention. Such data access may be facilitated
by the systems
of the present invention being adapted to identify and extract the desired
data from such
CA 02320572 2000-09-22
21
external systems without the special adaptation of these external systems.
Additionally or
alternatively, such external systems may be specifically adapted, or an
interface developed
which is operable therewith, to allow the ready extraction of desired
information.
The present invention may also utilize sources of information other than the
above
listed external systems. For example, information available from such sources
as "cookies,"
commonly used by Internet browsers, may be utilized to determine vendor
Internet address,
user account identification information, and the like.
Accordingly, through intelligently utilizing information akeady available in
the user
system, the present invention can minimize the information required of the
user. However,
although the user may input an appreciable amount of information in
initializing the present
invention with respect to a particular vendor, considerable savings and
advantages are
realized in that this information may be accurately retained and exchanged,
where
appropriate, without further user input.
At step 203 of FIGURE 2 an information communication link is preferably
established between user system and the credit vendor host system. This link
may be utilized
initially after the aforementioned initialization steps in order to complete
the initialization
process, confirm the accuracy of the input information, to notify the vendor
host system of
the user's configuration for operation according to the present invention,
etcetera.
Additionally or alternatively, this link may be utilized to bring the
individual's account detail
information stored at the user system up-to-date or provide other
fimctionality as described
herein. Accordingly, at step 204 of the preferred embodiment of FIGURE 2 a
step of
accumulating and exchanging information is performed.
Of course, operation of steps 203 and 204 to establish a link and accumulate
and
exchange information may be omitted from the initialization steps discussed
above, if
desired. For example, any information exchange desired to confirm the accuracy
of the input
information or to initially up date the individual's information may be
performed through a
link established in the standard operation of the system as described with
respect to FIGURE
5 below. Additionally or alternatively, the initial update of vendor specific
information may
be provided by the user or other means. For example, the user may input
initial balances and
CA 02320572 2000-09-22
22
history information. Alternatively, such information may be scanned through
the use of OCR
capabilities from tangible documents and/or acquired from other sources both
within the user
system and external thereto.
It should be appreciated that the initialization steps of FIGURE 2 may be
performed
for each credit vendor in toto prior to input of information with respect to
additional vendors,
if desired. However, there is no limitation to operation in that manner. In
fact, a preferred
embodiment of the present invention operates to allow initial input of vendor
information
(whether credit vendor or other vendors discussed below) prior to establishing
communication links therewith. Accordingly, economy of time may be realized in
that a
mufti-vendor link, such as the Internet, may be established once and yet a
plurality of vendor
exchanges conducted.
It should be appreciated that, although described separately, the operation of
the
present invention to provide the functions and features described with
reference to the various
FIGURES utilize similar steps. One of ordinary skill in the art should readily
appreciate that
various alterations and adaptations of the embodiments of the present
invention described
with respect to one aspect of the present invention may be desirable with
another aspect of the
present invention and, therefore, may be readily incorporated into such
aspects according to
the present invention. Specifically, the alternatives discussed with respect
to FIGURE 2
above are equally applicable to the portions of the present invention
discussed below with
references to FIGURES 3 and 4 below.
Having described initialization of the present invention to keep track of an
individual's expenditures, initializing a preferred embodiment system to track
the individual's
investments will now be described with reference to FIGURE 3. Preferably
systems of the
present invention operate to keep up-to-date the values of, and other
associated information
with respect to, the individual's investments, such as investment value,
preferably present and
future, rate of return, important dates such as vestige, maturity, etcetera,
type of investment,
such as for taxation or contribution determinations, and the like.
The preferred embodiment of the present invention illustrated in FIGURE 3
begins at
step 301 with various cooperating investment vendors providing their
corresponding host
CA 02320572 2000-09-22
23
systems, such as host systems 122-125, 131, and/or 142 of FIGURE 1, with user
investment
and associated information. Such investment vendors may include traditional
financial
institutions providing savings, brokerage, trading, trust, retirement, and
like accounts,
brokerage houses, retirement plan management companies, insurance companies,
etcetera.
The information provided by the investment vendors may be such information as
transaction detail, including investment dates, account balance, interest
rates, withdrawal
penalties, and the like, as well as detail with respect to deposit history,
accrued interest,
payment options, promotions associated with or available to the account, and
the like. As
with the credit vendor information described above, much of the above
information may
already be available in electronic form to the vendor, such as on an internal
system, and
therefore may require little more that linking data to an interface of the
present invention.
Also as described above with respect to credit vendors, some of the
information of interest to
a particular individual may be equally of interest, and equally applicable, to
a plurality of
individuals.
At step 302 of the preferred embodiment of FIGURE 3, the individual configures
an
associated user system, such as user system 110 of FIGURE 1, to include
information with
respect to investment vendors. For example, individual users may input into a
client module,
as described above, vendor and account details, such as identification of the
vendor, vendor
account numbers, user identification information, such as the user's PIN or
password, and/or
other useful information. Additionally, as discussed above with respect to
FIGURE 2, the
user may provide information with respect to how the present invention is to
utilize and/or
present information with respect to any particular vendor. As discussed above,
through
intelligently utilizing information already available in the user system, the
present invention
can minimize the information required of the user.
At step 303 of the preferred embodiment of FIGURE 3, an information
communication link is preferably established between the user system and the
investment
vendor host system. This link may be utilized initially after the
aforementioned initialization
steps in order to complete the initialization process, confirm the accuracy of
the input
information, to notify the vendor host system of the user's configuration for
operation
CA 02320572 2000-09-22
24
according to the present invention, etcetera. Additionally or alternatively,
this link may be
utilized to bring the individual's account detail information stored at the
user system up-to-
date or provide other functionality as described herein. Accordingly, at step
304 of the
preferred embodiment of FIGURE 3 a step of accumulating and exchanging
information is
performed. As with FIGURE 2 above, operation of steps 303 and 304 to establish
a link and
accumulate and exchange information may be omitted from the initialization
steps discussed
above, if desired.
The preferred embodiment shown in FIGURE 4 provides steps for accommodating an
individuals various earnings in the operation of the present invention. The
earnings referred
to here include such items of value as frequent flier units, discount coupons,
entitlement
coupons, entitlements to special offers, and the like. It should be
appreciated that such
earnings may be embodied in tangible media, such as a paper coupon possibly
having a
unique barcode or other information thereon, or electronically, such as a
datapacket
indicating an entitlement.
The preferred embodiment of the present invention illustrated in FIGURE 4
begins at
step 401 with various cooperating earnings vendors providing their
corresponding host
systems, such as host systems 122-125, 131, and/or 142 of FIGURE 1, with user
earnings and
associated information. Such earnings vendors may include bank card issuers
which provide
charging incentives, such as automobile discount credit, percentage cash back,
free services,
frequent flyer units, and other accrued incentives, air lines which provide
frequent flyer units,
hotels which provide frequent guest units, issuers of valuable coupons,
etcetera.
The information provided by the earnings vendors may be such information as
goods
and services for which the earnings may be redeemed, circumstances under which
the
earnings may be redeemed, vendors which will accept the earnings in conducting
transactions, milestones at which an individual may be entitled to particular
goods and
services, milestones which the individual has reached, transaction detail
accruing earnings
credit, and the like. As with the credit vendor information described above,
much of the
above information may already be available in electronic form to the vendor,
such as on an
internal system, and therefore may require little more that linking data to an
interface of the
CA 02320572 2000-09-22
present invention. Also as described above with respect to credit vendors,
some of the
information of interest to a particular individual may be equally of interest,
and equally
applicable, to a plurality of individuals.
At step 402 of the preferred embodiment of FIGURE 4, the individual configures
an
associated user system, such as user system 110 of FIGURE 1, to include
information with
respect to earnings vendors. For example, individual users may input into a
client module, as
described above, vendor and account details, such as identification of the
vendor, vendor
account numbers, user identification information, such as the user's PIN or
password, and/or
other useful information. Additionally, as discussed above with respect to
FIGURE 2, the
10 user may provide information with respect to how the present invention is
to utilize and/or
present information with respect to any particular vendor. As discussed above,
through
intelligently utilizing information already available in the user system, the
present invention
can minimize the information required of the user.
As mentioned above, the earnings attributable to a particular individual may
be
15 redeemable at a vendor other than that issuing the earnings. Accordingly,
it may not be
desired to input information with respect to the earnings vendor, but rather
information
regarding the earning itself and/or vendors at which the earning may be
redeemed. In such
cases, the above described steps may be eliminated or altered accordingly.
Step 403 of the preferred embodiment of FIGURE 4 accepts the input of earnings
20 information of the individual. Such input may be provided by the user,
extracted from
information available on the user system, or received from systems in
communication with
the user system, as described above.
Moreover, it is anticipated that, at least initially, many of an individual's
earnings may
be in a form other than electronic. For example, typical discount coupons are
typically
25 embodied in tangible form. Accordingly, at step 403 may also utilize input,
such as the above
mentioned OCR technology and/or other scanning input means including barcode
readers, to
accept input of various earnings.
CA 02320572 2000-09-22
26
At step 404 of the preferred embodiment of FIGURE 4, an information
communication link is preferably established between the user system and the
earnings
vendor host system. This link may be utilized initially after the
aforementioned initialization
steps in order to complete the initialization process, confirm the accuracy of
the input
information, to notify the vendor host system of the user's configuration for
operation
according to the present invention, etcetera. Additionally or alternatively,
this link may be
utilized to bring the individual's earnings detail information stored at the
user system up-to-
date or provide other functionality as described herein. Accordingly, at step
405 of the
preferred embodiment of FIGURE 4 a step of accumulating and exchanging
information is
performed. As with FIGURE 2 above, operation of steps 404 and 405 to establish
a link and
accumulate and exchange information may be omitted from the initialization
steps discussed
above, if desired.
It shall be appreciated that various vendors may provide goods and services
which
logically place a vendor in more than one particular category discussed
herein. For example,
a credit vendor may also be an investment vendor. Accordingly, rather than
perform
separately the steps of FIGURES 2, 3, and 4 as described herein, this vendor's
information
may be provided in a single series of steps, if desired.
It should be appreciated that information other than that associated with the
three
above described vendors may be utilized according to the present invention.
For example, the
individual may be interested in particular items or information as a hobby or
business, such as
electronic equipment or computers generally, the collection of postage or
coins, or other non-
vendor specific information. The individual may, following steps similar to
those described
above, provide information regarding the types of non-vendor specific
information he/she is
interested in. Such information may include particular identified vendors
dealing in
merchandise, services, or information associated with the non-vendor specific
information.
Additionally or alternatively, such information may include information
sufficient for the
system of the present invention to independently communicate with various host
systems and
determine whether merchandise, services, or information associated with the
non-vendor
specific information is available there. Vendors cooperating in the practice
of the present
CA 02320572 2000-09-22
27
invention may provide information in their host systems suitable for the ready
determination
by the present invention of their suitability for inclusion as a vendor of
interest by the user
systems.
Information associated with the non-vendor information which is accumulated
and
exchanged according to the present invention may be compared and contrasted to
present the
individual with information regarding what is available to the individual and
from what
source, what the competitive prices for such items are, the features,
limitations, etcetera of the
items, and the like. Accordingly, one of ordinary skill in the art will
readily appreciate that
the present invention is neither limited to the use of the credit, investment,
and asset vendors
discussed in detail above nor the use of vendor specific information.
Preferably, the present invention is adapted to keep the individual current
with respect
to the information presented. For example, algorithms of the preferred
embodiment utilize at
least a portion of the information regarding the particular debts,
investments, assets, etcetera
of the individual provided above to at least periodically solicit further or
more current
information associated therewith. This updating of information may take place
at
predetermined intervals, after the occurrence of a predetermined event, or by
any other trigger
events deemed advantageous. In a preferred embodiment, updating of information
is
accomplished as a background task on the user system so as not to
substantially interfere with
the individual's normal use of the user system.
For example, whenever the individual is surfing the Internet, or when the user
system
is independently surfing the Internet, the present invention preferably
triggers signals to
contact the databases specified in the user system software initialized as
described above.
These signals will pick out the transactions made by the individual and bring
it back into the
individual's database and present it in a consolidated way into summarized
form for him/her
to view. If the individual does want to see detailed transactions, principally
the whole
statement of transaction made for 30 or 90 days, for example, he/she just
clicks onto the
vendor's folder and everything will be reflected on that side of it. If he/she
is not satisfied
with the information available, he/she could utilize a query button, or
similar device, to allow
the individual to put in his/her queries and automatically communicate them to
the
CA 02320572 2000-09-22
28
appropriate vendor, such as the next time the user system connects to the
Internet. Similarly,
the vendor may respond or otherwise communicate with the individual.
Likewise, interaction with various host systems may be utilized to update or
otherwise
provide the individual with information regarding the above described non-
vendor specific
information. For example, the system of the present invention may access
various host
systems to collect information relevant to the non-vendor specific information
of interest to
the individual.
Directing attention to FIGURE 5, a flow diagram of a preferred embodiment
algorithm for the accumulation and exchange of information is shown. At step
SO1 a
determination is made as to whether a suitable link has been established for
the accumulation
and exchange of information according to the present invention. This
determination allows
the operation of this aspect of the present invention to take place as a
background task when
the user system establishes a particular link for other purposes. For example,
an individual
may cause user system 110 to dial up ISP system 121 to retrieve e-mail. This
connection
between user system 110 and ISP system 121 provides an Internet gateway to
user system
110 through which communication with host systems 122-125 may be had. Where
information relevant to the individual indicates that communication via an
Internet
connection is useful in accumulating and exchange of information, the
determination at step
501 may be in the affirmative and processing proceeds to step 502.
At step 502 a determination is made as to whether information accumulation and
exchange according to the present invention is proper. For example, it may be
predetermined
that information accumulation and exchange need only be accomplished on a
daily basis,
such as to avoid unnecessary use of processor time with information which is
likely to have
changed only slightly if at all. If a previous suitable link has been
established and, therefore,
information accumulation and exchange has akeady occurred within the desired
time frame, a
determination may be made at step 502 that it is not a proper time for
fi~rther information
accumulation and exchange. In such a case processing would loop back to a
beginning point,
such as back to step SO1.
CA 02320572 2000-09-22
29
If at step 502 it is determined that information accumulation and exchange is
proper
according to the present invention, processing proceeds to step 505. At step
505, the
preferred embodiment of FIGURE 5 operates to conduct information accumulation
and
exchange. This step may involve looking to information provided regarding
various vendors,
such as vendors' electronic addresses, account numbers, passwords, and the
like, and
interfacing with the appropriate host systems to solicit information on the
individual's behalf,
to provide information to the host systems, to exchange queries, and/or the
like.
Thereafter, processing proceeds to step 506 where the preferred embodiment of
the
present invention manipulates information. For example, information with
respect to a
particular vendor may be stored in a folder on the user system associated with
that particular
vendor. This information may supplement or update information previously
stored in that
folder. Additionally or alternatively, information may be provided to category
folders, such
as an out standing credit card dept folder, to supplement or update
information therein.
Manipulation of information by the present invention preferably includes more
than
the proper association and storing of information. Specifically, the preferred
embodiment of
the present invention is adapted to provide summaries of the individual's
current status,
historical status, and/or projected status in a simple and readily
understandable format. This
summary information, or portions thereof, may be selected by the individual
for further
analysis or detail.
The present invention preferably not only summarizes such information in the
traditional sense of reducing the level of detail for rapid assimilation by a
user, but also
intelligently correlates information to present a robust picture of the
individual's status. For
example, an individual may have certain monthly obligations which are both
fixed and
variable for which the individual should know an amount of money required to
satisfy this
debt prior to committing to other obligations. Accordingly, operation of the
preferred
embodiment of the present invention is adapted to determine whether a debt is
variable, such
as a revolving fuel credit card dept or a variable interest mortgage loan, and
determine the
factors which will cause the dept to vary and, thereby, be able to determine
the projected
monthly payment. Additionally, operation of the present invention preferably
is adapted to
CA 02320572 2000-09-22
determine the occurrence of other periodic debt, such as semi-annual
automobile insurance
payments or annual life insurance payments, and forewarn the individual to
this obligation to
avoid the committal to a transaction which will cause financial over
extension.
Further, manipulation of information according to the present invention
includes
S determining any advantages, disadvantages, etcetera associated with the
accounts of the
individual. For example, the present invention may determine that a
significant savings may
be had by prepayment of a debt or that transferring debt of one credit card to
another credit
card would provide a savings in interest and, thus, present this information
in the above
mentioned summary or other levels of detail. Likewise, a determination that
use of one
10 particular account for a next purchase will result in a milestone providing
an earning, such as
a frequent flyer award, to the individual and, thus, the individual may be
notified of this
circumstance. Similarly, a determination that particular earniings will expire
if not redeemed
may be made and a warning. provided to the individual. Accordingly, it should
be
appreciated, because the knowledge base of the present invention is so
encompassing, that
15 robust determinations considering various aspects of the individual's
position may be made,
instead of considering each aspect in isolation. This more robust information
provided by the
present invention, as shown above, may be utilized by the individual in
conducting future
transactions.
Accordingly, the preferred embodiment of the present invention not only is
adapted
20 for the information accumulation and exchanges described above, but is also
adapted to
operate with information regarding active transactions. Specifically, the
preferred
embodiment of the present invention provides an interface useful in conducting
electronic
commerce transactions. However, it should be appreciated that features and
advantages of
the present invention are also applicable to more traditional forms of
transactions.
25 In a typical electronic commerce transaction, the individual may connect to
vendor
host systems, such as through the Internet, for whatever the individual
desires. Typically, this
involves some "electronic window shopping" and ultimately results in the
selection, often
done through "electronic carting" of the items, and purchase of items,
generally accomplished
CA 02320572 2000-09-22
31
through some sort of electronically acceptable payment method such as credit
card, prepaid
accounts, and even electronic vault credit exchange.
Such transactions conducted according to the present invention provide the
individual
with added advantages as the ability to determine if particular premiums,
earnings, discounts,
etcetera are available, whether the individual's current status is such that
conducting the
currently contemplated transaction is advisable, and like considerations.
Moreover, operation
of the present invention, as described above, may be utilized by the
individual to present,
contrast, and compare a variety of items prior to their purchase. These
advantages are further
supplemented by the preferred embodiment of the present invention's inclusion
of a protocol
for exchanging monetary value or other transaction authorization information.
This protocol
establishes a means by which an individual is not required to provide
sensitive information to
an unknown, or relatively unknown, vendor.
Directing attention to FIGURE 6, operation of the present invention in
conducting an
electronic commerce transaction is illustrated. In operation of the present
invention, as with
1 S the typical electronic commerce transaction described above, the
individual connects to a
selected host vendor's host system at step 601. It should be appreciated that
the individual
may select this vendor directly or selection may be made otherwise. For
example, through
operation of the present invention comparison and contrast of the desired item
as available
from a variety of vendors may be made by the present invention and recommended
to the
individual or actually selected by the operation of the present invention.
Alternatively,
vendors meeting particular criteria may be selected by the present invention
to allow
"electronic window shopping" by the individual for final selection of the
vendor.
Thereafter, the individual selects for purchase (or other form of exchange)
the
particular item or items available from the selected vendor at step 602.
Selection may
involve flagging particular item descriptions as they are presented to the
individual in the
aforementioned electronic window shopping. Additionally or alternatively,
selection may
involve the individual inputting a description or catalogue number of the
desired item or
items. Accordingly, it should be appreciated that the present invention is not
limited to any
particular form of selecting items for conducting transactions.
CA 02320572 2000-09-22
32
Once the item or items are committed to by the individual for conducting the
transaction, according to the preferred embodiment of FIGURE 6 at step 603,
the individual
inputs non-sensitive individual transaction information. This non-sensitive
individual
transaction information may include information such as the individual's name,
address, or
other information useful in conducting the transaction for which the
individual is not opposed
to providing to an unknown, or relatively unknown, vendor.
It should be appreciated that the above steps of the present invention may be
conducted through an unmodified interface generally available, such as an
Internet browser.
Accordingly, in a preferred embodiment of the present invention the above
steps are provided
through such a general purpose interface without substantial interaction by
the present
invention. However, in an alternative embodiment the present invention
operates to control
all or substantially all of the above steps. Additionally or alternatively,
the present invention
monitors item browsing, or other proposed transaction relevant information, by
the individual
in order to dynamically present the individual with information relevant to
the individual's
decision to conduct the transaction. For example, even though browsing may be
conducted
through the use of a general purpose interface such as an Internet browser,
the present
invention may operate to monitor communications and present, such as within a
window
unobtrusively displayed on the user system, discounts available on the
currently viewed item,
milestones reached through purchase of the item, and like information useful
to the
individual.
In order to complete the transaction, it is generally required that the
individual also
provide information more sensitive than that listed above. For example, the
individual
conducting a transaction is often required to provide payment information
which, if landed in
the wrong hands, could cause the individual a considerable amount of
embarrassment and
harm. Accordingly, operation of the preferred embodiment of the present
invention provides
a secure means at step 604 by which the individual may confidently provide
information
necessary to complete the transaction.
In a preferred embodiment of the present invention, where a general purpose
interface
is utilized in steps 601-603 described above, a software button, automatic
activator, or other
CA 02320572 2000-09-22
33
activation means or mechanism is provided to allow a portion of the system of
the present
invention to interact with the individual. Preferably this interaction
involves the display of a
special window or form soliciting sensitive information from the individual
for the proposed
transaction. This window or form may present a selection of various credit
cards, lending
institutions, etcetera to the individual, such as may be selected from the
initialization
information provided by the user for selection of a particular one by the
individual at step
605. The present invention may operate to determine the one credit card, or
other payment
method, most advantageous to the individual, such as because of a particular
milestone
reached, a desirable interest rate, an existing credit balance, a particular
promotion available
in association with the selected vendor, or the like. This may cause this
particular payment
method to be selected as a default which may be overridden by the individual.
Additionally
or alternatively, various ones of the payment methods may be presented as best
choices and
their reasons for being suggested, for selection by the individual.
It should be appreciated that it is not required that the individual actually
input all of
the sensitive information. Instead, according to the preferred embodiment of
the present
invention the individual need only select or identify the sensitive
information which has
already been provided. However, in order to prevent a rogue user of the user
system from
having full status of the individual in conducting transactions, of the
present invention
preferably requires the individual conducting a transaction to provide some
form of
identification. For example, the individual may input a password or PIN at
step 606 before
the present invention will allow the sensitive information stored therein to
be used in
conducting a transaction. Of course, other means of identifying an individual
and/or
authorizing the transaction may be used according to the present invention, if
desired. For
example, biological or physiological tests, such as thumb print or retinal
scanning, may be
performed by the user system in addition to or in the alternative to the more
typical
approaches such as the above mentioned password or PIN verification.
It should be appreciated that the password or PIN used in step 606 above may
be that
associated with the particular form of payment, such as a PIN associated with
a debit card
account being used in the transaction. Additionally or alternatively,
identification
CA 02320572 2000-09-22
34
information separate and distinct from the identification information
associated with the
sensitive information may be used. For example, passwords unique to the
software systems
of the present invention may be utilized to identify the individual and
authorize the use of
sensitive information in conducting a transaction. Accordingly, an individual
might only
need to remember one password or PIN regardless of the various means utilized
in
conducting a transaction. Of course, the use of one such identification means
for multiple
sets of the sensitive information may be less desirable where it is feared
that this password or
PIN would be discovered by a rogue.
After the individual has interacted with the sensitive transaction information
interface
(step 604), confirmed that he/she wishes to complete the transaction and
selected a particular
set of sensitive information suitable for completing the transaction according
to the
individual's desires (step 605), and provided sufficient
identification/authorization (step 606),
the preferred embodiment of the present invention proceeds to steps 607-608 to
acquire a
payment, or other transaction, authorization data packet.
Specifically, at step 607 an electronic commerce transaction data packet is
communicated to a host system of the individual's selected payment method, or
other
transaction authorization mechanism. This data packet may include a minimum of
data, such
as identification of the individual, identification of the vendor, and a
transaction amount.
Where the data packet is generated within the system of the present invention,
means such as
cryptography, i.e., public key cryptography and/or digital signing where each
of the user
system and the particular host in communication therewith have a private
cryptographic key
of their own and a public key associated with the other system, receipt of a
proper data packet
can provide a level of comfort that it was authorized by a proper individual.
Accordingly,
transmission of sensitive information may be avoided in this data packet.
Alternatively,
sensitive information, such as the individual's password, account number,
etcetera may be
included in the data packet, which is preferably transmitted securely such as
through the use
of encryption.
CA 02320572 2000-09-22
Additional non-sensitive information may be included in this data packet if
desired.
For example, the details of the contents of the electronic shopping cart could
be sent to the
user's bank in order to apply for credit for the transaction.
At step 608 the host system of the selected method of payment generates an
electronic
5 commerce approval data packet acceptable to the selected vendor in
completing the desired
transaction. This data packet may be proof that the appropriate funds have
been transferred
from a user account to that of the selected vendor. Alternatively, this data
packet may itself
be electronic monetary value which the selected vendor may add to a value
register as an
electronic "cash" transaction. In another alternative this data packet may be
useful by the
10 selected vendor in requesting payment when presented later. In some
embodiments this data
packet may simply be a transaction authorization number. Regardless of its
form, in the
preferred embodiment of FIGURE 6 this electronic commerce approval data packet
is
transmitted to the user system for use according to the present invention.
At step 609, the electronic commerce approval data packet is appended to the
non-
15 sensitive individual transaction information and communicated to the
selected vendor's host
system. Accordingly, the selected host vendor will be provided all information
necessary to
conduct the transaction.
It should be appreciated that in the preferred embodiment, where a general
purpose
interface is used, such as the aforementioned Internet browser, the electronic
commerce
20 approval data packet may be appended to the non-sensitive data inputted
therein and then the
operation of software of the present invention then substantially suspended
for completion of
the transaction. Accordingly, the preferred embodiment of the present
invention is well
suited to be embodied in a "plug-in" or "pop-up" application operable with the
general
purpose interface. Of course, many variations as to how the data interaction
of the present
25 invention is accomplished may be used within the scope of the present
invention. For
example, software of the present invention may be utilized exclusively for the
communication
with the selected vendor. Additionally or alternatively, the non-sensitive
information may be
communicated independent of the electronic commerce approval data packet to
the selected
vendor.
CA 02320572 2000-09-22
36
In an alternative embodiment of the present invention, the electronic commerce
approval data packet may be communicated from the host system of the selected
method of
payment (or other transaction authorization) directly to the selected vendor
(although it may
be desirable for the user system to receive a copy of this data packet in
order for transaction
log keeping or other purposes). Accordingly, the selected vendor may be
provided a higher
level of comfort that the approval is genuine, may be provided with funds more
rapidly, or
may be provided other desirable advantages.
Regardless of the form of the communication of the transaction completing
information to the selected vendor, at step 610 the transaction is completed
and the selected
items are transmitted to the individual. Such transmission may be through
electronic means,
such as where the desired item is information or another electronically
reproducible item,
such as a coupon, voucher, ticket, or the like. Alternatively, transmission
may be by physical
Garner, such as a common Garner employed to deliver a tangible item.
Although the present invention and its advantages have been described in
detail, it
should be understood that various changes, substitutions and alterations can
be made herein
without departing from the spirit and scope of the invention as defined by the
appended
claims. Moreover, the scope of the present application is not intended to be
limited to the
particular embodiments of the process, machine, manufacture, composition of
matter, means,
methods and steps described in the specification. As one of ordinary skill in
the art will
readily appreciate from the disclosure of the present invention, processes,
machines,
manufacture, compositions of matter, means, methods, or steps, presently
existing or later to
be developed that perform substantially the same fimction or achieve
substantially the same
result as the corresponding embodiments described herein may be utilized
according to the
present invention. Accordingly, the appended claims are intended to include
within their
scope such processes, machines, manufacture, compositions of matter, means,
methods, or
steps.
