System, method, and computer program product for selecting and presenting financial products and services
View Patent ↗An apparatus and method are provided which use client information from a client to automatically select and present financial products appropriate for the client. The apparatus according to one aspect of the invention comprises an input device for inputting client information relevant to a need by the client for the financial products, for inputting information about the financial products, for inputting ancillary data which excludes the client information and the financial products information, and for inputting decision criteria pertaining to selection from among the financial products. The apparatus still further includes decision making logic circuitry for using the client information, the financial products information, the ancillary information, and the decision criteria to select a subset of the financial products. It further includes an output device for preparing a client communication which identifies the subset of the financial products.
1. A method for using a computer to automatically prepare a client communication having a communication format, said communication format comprising general information and client information, said general information pertaining to a first financial product or service, said general information being other than an offer for said first financial product or service, said method comprising the steps of:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to:
select a client record from said client database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content pertaining to an offer for a second financial product or service and including portions of said client information contained in said particular client's client record and portions of product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously and according to said communication format;
compose said general information, said portions of product information, and said portions of client information to form said client communication; and
automatically repeat said steps to select, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
2. The method of claim 1 , wherein said communication format comprises an offer portion, a product/service information portion and a fulfillment portion, wherein said product/service information portion comprises information pertaining to said second financial product or service enabling said client to make an informed decision regarding said second financial product or service, and wherein said fulfillment portion enables said client to obtain said second financial product or service, or directs said client on how to obtain said second financial product or service or information relating thereto.
3. The method of claim 2 , wherein said offer is located on a page of said client communication other than a first page of said client communication.
4. The method of claim 2 , wherein information in said product/service information portion includes information required by compliance standards to offer said second financial product or service for sale.
5. The method of claim 2 , wherein information in said product/service information portion includes information required by applicable regulations to offer said second financial product or service for sale.
6. The method of claim 1 , wherein said variable content does not pertain to said first financial product or service.
7. The method of claim 1 , wherein said variable content pertains to both said first financial product or service and said second financial product or service.
8. The method of claim 1 , wherein said variable content pertains to terms of said second financial product or service.
9. The method of claim 1 , wherein said composing step includes the step of adjusting at least one of a layout and said format of said client communication depending on content of said offer.
10. The method of claim 1 , wherein said composing step includes the step of including said variable content into said offer such that said offer does not include any excess spaces adjacent to said variable content.
11. The method of claim 1 , wherein said determining step comprises calculating a portion of said variable content.
12. A method for using a computer to automatically prepare a client communication, said client communication comprising general information and client information, said general information pertaining to a first financial product or service, said method comprising the steps of:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to:
select a client record from said client database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content including at least some information required by compliance standards to offer a second financial product or service for sale and including portions of said client information contained in said particular client's client record and portions of product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously;
compose said general information, said portions of product information, and said portions of client information to form said client communication; and
automatically repeat said steps to select, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
13. The method of claim 12 , wherein said variable content includes at least some information required by applicable regulations to offer said second financial product or service for sale.
14. A method for using a computer to automatically prepare a client communication, said client communication comprising general information and client information, said general information pertaining to a first financial product or service, said method comprising:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to
select a client record from said client database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content relating to one or more plans applicable to a second financial product or service and including portions of said client information contained in said particular client's client record and portions of product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously;
compose said general information, said portions of product information, and said portions of client information to form said client communication; and
automatically repeat said steps to select, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
15. The method of claim 14 , wherein each plan has one or more features relating to said second financial product or service.
16. The method of claim 15 , wherein features of said plans vary from plan to plan.
17. The method of claim 14 , further comprising the step of:
using said processor to design said plans for said client.
18. The method of claim 14 , further comprising the step of:
using said processor to select said plans for said client.
19. A method for using a computer to automatically prepare a client communication, said client communication comprising general information and client information, said general information pertaining to a first financial product or service, said method comprising:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to:
select a client record from said client database;
select a second financial product or service from said product-related database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content relating to an offer for said second financial product or service and including portions of said client information contained in said particular client's client record and portions of product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously;
compose said general information, said portions of product information, and said portions of client information to form said client communication; and
automatically repeat said steps to select a client record, select a second financial product or service, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
20. A method for using a computer to automatically prepare a client communication, said client communication comprising general information and client information, said general information pertaining to a first financial product or service, said method comprising the steps of:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to:
select a client record from said client database;
select one or more plans applicable to a second financial product or service from said product-related database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content relating to an offer for said selected one or more plans applicable to said second financial product or service and including portions of said client information contained in said particular client's client record and portions or product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously;
compose said general information, said portions of product information, and said portions of client information to form said client communication; and
automatically repeat said steps to select a client record, select one or more plans, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
21. A method for using a computer to automatically prepare a client communication, said client communication comprising general information and client information, said general information pertaining to a first financial product or service, said method comprising:
providing a client database comprising a plurality of client records, said client records comprising client information;
providing a product-related database comprising product information;
using a processor to:
select a client record from said client database;
determine variable content for inclusion in a client communication to be directed to a particular client associated with said client record, said variable content pertaining to an offer for a second financial product or service and including portions of client information contained in said particular client's client record and portions of product information from said product-related database, said portions of product information specific to said client;
generate said portions of client information, said portions of product information, and said general information instantaneously;
compose said general information, said portions of product information, and said portions of client information to form said client communication, wherein said client communication comprises content sufficient to enable a customer to make an informed decision regarding said second financial product or service; and
automatically repeat said steps to select, determine, generate and compose for each suitable client record, from said client database, without human intervention between each step for a particular client record and between successive client records.
22. The method of claim 21 , wherein said content sufficient to enable a customer to make an informed decision includes compliance related information.