1. Multi Card Problem Which card do I use when I am at a point of sale to maximize rewards? Choose Randomly ? Build & Solve a complex equation to choose the best ?

2. Multi-card Problem On average an American card holder has 4 different credit cards (and increasing) On average an American card holder has 4 different credit cards (and increasing) 14% Americans have 6.6 card on average i.e. ~40 million 14% Americans have 6.6 card on average i.e. ~40 million It is good to have multiple cards to have better credit history & higher credit limits. It is good to have multiple cards to have better credit history & higher credit limits. At the same time, the multiplicity of cards should not make it difficult for consumer to shop. At the same time, the multiplicity of cards should not make it difficult for consumer to shop. Different cards offer different rewards on different kind of purchases Different cards offer different rewards on different kind of purchases 60% cards offer some kind of benefits package 60% cards offer some kind of benefits package 23% increase in card holder who use credit cards for the rewards over 5 years 23% increase in card holder who use credit cards for the rewards over 5 years Often it is difficult to remember which card offers benefit on which product Often it is difficult to remember which card offers benefit on which product Foreign transaction fees vary from card to card (lawsuit!) Foreign transaction fees vary from card to card (lawsuit!)

3. Multi-card Problem How can my cards communicate within themselves and choose the one among them that is best for me for the current transaction ? How can my cards communicate within themselves and choose the one among them that is best for me for the current transaction ? Why has it not been solved ? Why has it not been solved ? Challenge: How do you get these cards to interact with each other to work in the best interest of user? Challenge: How do you get these cards to interact with each other to work in the best interest of user? Business- Since cards are from different banks, they compete instead of co-operating to divide profits instead of sharing. Also issues of credit risk sharing are involved. Business- Since cards are from different banks, they compete instead of co-operating to divide profits instead of sharing. Also issues of credit risk sharing are involved. Technology- Choosing the best card among the cards a user holds requires knowledge gathering and inference mechanisms using based on hand crafted rules. Technology- Choosing the best card among the cards a user holds requires knowledge gathering and inference mechanisms using based on hand crafted rules. The technology component can be made cost-effective with the use of Artificial Intelligence and Language Technologies. The technology component can be made cost-effective with the use of Artificial Intelligence and Language Technologies.

4. MetaCard // Thinks for you. 11925 / Financial Services / Rohit Kumar MetaCard- A multi-card unification mechanism which allows you to register all your (supported) cards to a single MetaCard account. At the time of purchase (online or onsite) you simply use your MetaCard like any other credit card. The MetaCard transaction processing system identifies the best card among the registered cards based on type of purchase, card contract & rewards, account balance, etc.

5. Demo / Architecture User with multiple cards MetaCard website MetaCard signup Name, Address, etc. List of cards Type (selected from a list), Account info., etc. User Goals (choose from) More return, more miles, better credit rating, etc. MetaCard AI Agent Read and understand contract Read previous statement Construct credit model Construct user model MetaCard Business Expert System Check’s user history Sanity checks Verifications MetaCard Getting a Meta Card

6. Demo / Architecture User with MetaCard Store (Website/Physical) Checkout MetaCard AI Agent Uses credit model & user model to find best card to put the transaction on MetaCard Using a Meta Card Transaction processing using common infrastructure Transaction billed to MetaCard account Transaction processing using common infrastructure Best card account T2 T1

7. Demo / Architecture User with MetaCard Store (Website/Physical) Checkout MetaCard AI Agent Uses credit model & user model to find best card to put the transaction on MetaCard Using a Meta Card Transaction processing using common infrastructure Transaction billed to MetaCard account Transaction processing using common infrastructure Best card account Effective indirect transaction T2 T1

8. Specific Problem Addressed User does not need to remember credit card contract terms and conditions to make best choice of card for each transaction User does not need to remember credit card contract terms and conditions to make best choice of card for each transaction User experiences confident shopping knowing that he/she made the best choice possible to maximize return (or minimize cost) User experiences confident shopping knowing that he/she made the best choice possible to maximize return (or minimize cost)

9. Infrastructure The MetaCard system is based largely on existing credit card transaction processing infrastructure. This infrastructure is well established and widely accepted around the globe. The MetaCard system is based largely on existing credit card transaction processing infrastructure. This infrastructure is well established and widely accepted around the globe. On the transaction processing side, significant computational infrastructure would be required to process 1000s of transaction simultaneously and update user/credit models. On the transaction processing side, significant computational infrastructure would be required to process 1000s of transaction simultaneously and update user/credit models. Computational infrastructure is becoming cheaper and common everyday. Computational infrastructure is becoming cheaper and common everyday.

10. Effort & Scale Designing mechanism to extract information from contracts and monthly statements and combine with knowledge to create good user models and credit models. Designing mechanism to extract information from contracts and monthly statements and combine with knowledge to create good user models and credit models. Mechanism to apply above models to transactions to achieve highly accurate recommendations. Mechanism to apply above models to transactions to achieve highly accurate recommendations. Mechanism to update user models and credit models efficiently after each transaction. Mechanism to update user models and credit models efficiently after each transaction. Website that provides user interface to let the user sign up for MetaCard and monitor its use. Website that provides user interface to let the user sign up for MetaCard and monitor its use. Development Scale: I think a team of less than 10 experts from different areas (like language technologies, machine learning, finance, user interfaces, developers, etc.) can work together and bring up a system in 6 months to an year. Development Scale: I think a team of less than 10 experts from different areas (like language technologies, machine learning, finance, user interfaces, developers, etc.) can work together and bring up a system in 6 months to an year.

11. Future Vision Many other intelligent services can be provided as an expansion on the basic MetaCard system. I discuss only a few. Many other intelligent services can be provided as an expansion on the basic MetaCard system. I discuss only a few. Theft Handling Theft Handling Incase the wallet gets stolen, the thief can use each of your cards to get money Incase the wallet gets stolen, the thief can use each of your cards to get money Since MetaCard is the only card you carry, it can block scrupulous activity after one erratic transaction Since MetaCard is the only card you carry, it can block scrupulous activity after one erratic transaction Personal Finance Management Personal Finance Management Since this single card observe all kinds of transaction of a person, it can give comprehensive visualization of expenditures to help the user manage budget effectively Since this single card observe all kinds of transaction of a person, it can give comprehensive visualization of expenditures to help the user manage budget effectively

12. Discussion and Questions Comments from Joshua Kimball @ Mellon Bank Comments from Joshua Kimball @ Mellon Bank Interesting concept Interesting concept Credit Risk sharing may keep banks away from this Credit Risk sharing may keep banks away from this Can be implement at a Charge Clearing House Can be implement at a Charge Clearing House How is this made visible to the customer ? How is this made visible to the customer ? Add-on feature to special cards (like corporate cards) Add-on feature to special cards (like corporate cards) …