Capital One Financial has patented a computer-implemented method using machine learning to predict transaction failures. The system analyzes transaction data, determines likelihood of success, and suggests terms to increase success probability. Users receive real-time feedback through a graphical interface. GlobalData’s report on Capital One Financial gives a 360-degree view of the company including its patenting strategy. Buy the report here.
Smarter leaders trust GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
According to GlobalData’s company profile on Capital One Financial, Virtual banking assistant was a key innovation area identified from patents. Capital One Financial's grant share as of May 2024 was 27%. Grant share is based on the ratio of number of grants to total number of patents.
Predicting transaction failures using machine learning predictive engine
A recently granted patent (Publication Number: US12001927B2) discloses a computer-implemented method that utilizes a machine-learning predictive engine to predict failures in transaction occurrences. The method involves receiving electronic transaction data from a user via a graphical user interface, determining the likelihood of all parties agreeing to the transaction terms, and suggesting additional terms to increase this likelihood above a predetermined threshold. The machine learning predictive engine is trained on prior transaction data to make these predictions based on similarities between current and historical transactions. The graphical interface displays indicators of likelihood values, suggested transaction terms, and the overall agreement likelihood to assist users in making informed decisions during transactions.
Furthermore, the patent details additional features such as training the predictive engine based on electronic prior transaction data, determining weights for candidate transaction terms, acquiring additional data sources for training when necessary, and displaying alerts when transaction terms fall outside acceptable ranges. The method also includes updating effects on likelihood values based on user inputs, determining alternate terms or items to increase agreement likelihood, and providing a range of acceptable transaction terms based on historical data. The system can also handle multiple candidate term packages, display indicators of effects on likelihood values, and adapt to user inputs for improved decision-making. Overall, the patented method aims to enhance transaction prediction accuracy and user decision-making through the use of machine learning technology and graphical user interfaces.
To know more about GlobalData’s detailed insights on Capital One Financial, buy the report here.
Data Insights
From
The gold standard of business intelligence.
Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.
GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
