REDEMPTION RATE DETERMINATION ENGINE

An apparatus including a receiver receiving a redemption request from a member, a processor executing instructions stored in memory to cause the processor to gather data; resolve attribute conflicts based on a source prioritization that lists sources in a hierarchical order indicating that a source...

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Bibliographic Details
Main Authors Monticelli, Angel Luis, Holleran, Jeffrey, Schwartz, Peter John, Bowerman, Robert, Kacija, Mergim
Format Patent
LanguageEnglish
French
German
Published 03.06.2020
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:An apparatus including a receiver receiving a redemption request from a member, a processor executing instructions stored in memory to cause the processor to gather data; resolve attribute conflicts based on a source prioritization that lists sources in a hierarchical order indicating that a source corresponding to a contract of the member has a highest priority; perform rate calculations based on the attributes to determine rates for the property; present the rates to the member in compliance with rate rules; receive an indication that the member desires to redeem points to obtain the property at one of the rates presented; deduct the points for the property at the one of the rates from a member's account for the property after confirmation that the member has a sufficient amount of the points to redeem; and a transmitter configured to instruct an external system to obtain the property for the member.
Bibliography:Application Number: EP20190210360