PNC Financial Services Group has patented a system for managing financial accounts in low-cash mode. The system includes dynamic threshold settings, default payment behaviors, and fund transfers between accounts. Notifications and dashboard configurations guide users through managing their accounts effectively. GlobalData’s report on PNC Financial Services Group gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on PNC Financial Services Group, Virtual banking assistant was a key innovation area identified from patents. PNC Financial Services Group's grant share as of January 2024 was 91%. Grant share is based on the ratio of number of grants to total number of patents.
System for managing financial account in low-cash mode
A recently granted patent (Publication Number: US11875320B1) describes a system for managing a financial account in a low-cash mode. The system includes a memory storing instructions, servers operated by a financial institution, and processors executing stored instructions to provide various dashboard configurations on a mobile device. These configurations allow users to set predetermined threshold amounts, default payment behaviors, and manage transactions when the account is in low-cash mode. Notifications are sent to users based on account balance and threshold amounts, with options to transfer funds between accounts and prioritize transactions. The system aims to streamline financial account management during low-cash situations by providing a user-friendly interface and automated processes.
Furthermore, the patent also covers methods for managing financial accounts in low-cash mode, including requesting authorization for fund transfers, ensuring sufficient funds in the transferring account, and notifying users of unsuccessful transfers. The system allows users to set threshold amounts, default payment behaviors, and prioritize transactions, with notifications sent based on account status. Additionally, the patent includes provisions for displaying fee indications, storing transfer dates, and providing notifications of fund transfers between accounts. By offering a comprehensive approach to managing financial accounts during low-cash scenarios, the system aims to enhance user experience and financial control through a mobile device interface.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
