Method and system for auctioning funds using a full-time public network

A method for auctioning funds by a depositor using a full-time public network, including the steps of:

• establishing a connection to a full-time public network;
• accepting depositor criteria received via the full-time public network;
• performing risk analytics to facilitate identification of acceptable bidders;
• accepting at least one bid from at least one acceptable bidder via the full-time public network;
• evaluating each accepted bid based on the depositor criteria to determine whether the bid satisfies the criteria;
• and
• selecting as a winning bid at least one bid determined to satisfy the depositor criteria.

A system for auction-based transactional matching of depositors and banks in order to achieve qualified placement of funds so as to satisfy the criteria of depositor and bank, the system comprising:

• at least one depositor computing system adapted to communicably couple to an auctioneer computing system via the full-time public network;
• at least one bank computing system adapted to communicably couple to the auctioneer computing system via the full-time public network;
• the auctioneer computing system adapted to communicably couple to the full-time public network, wherein the auctioneer computing system comprises:
• a depositor criteria module adapted to accept depositor criteria from potential depositors via the full-time public network;
• a bank criteria module adapted to accept bank criteria from potential depositors via the full-time public network;
• an auction module adapted to perform an auction-based transactional matching of accepted depositor criteria to accepted bank criteria, wherein each criteria satisfies the requirements of the criteria to which it is matched;
• a notification module adapted to notify, in response to the matching of an accepted depositor criteria with an accepted bank criteria, the corresponding depositor and the corresponding bank of the match via the full-time public network;
• wherein the at least one depositor computing system is adapted to communicably couple to the at least one bank computing system following conclusion of the auction-based match in order to execute post-auction activity in accordance with the terms of the depositor criteria and the bank criteria.

A method for auctioning banking deposit opportunities to depositors using a full-time public network, including the steps of:

• establishing a connection to a full-time public network;
• accepting banking deposit criteria received from a bank via the full-time public network, including:
• a deposit amount;
• a deposit term;
• a maximum specified interest rate;
• accepting at least one bid from at least one depositor via the full-time public network, the bid including a bid interest rate no more than the maximum specified interest rate;
• selecting at least one winning bid from the accepted bids on the basis of its bid interest rate;
• and
• notifying the bank of the winning bid, including the identity of the winning bidder and the winning bid interest rate.