US 2010/0161475 A1 · SYSTEM AND METHOD FOR AN EXCHANGE OF FINANCIAL INSTRUMENTS

Abstract

Provided is a method and system for an online marketplace for the buying, selling and Servicing of financial instruments, such as accounts receivable, where the online marketplace receives and analyzes Account data from a Reporting Agency Database, such as a Consumer Reporting Agency Database. The online marketplace may include a plurality of business logic Components, including an Analysis Component, an Inventory Management Component, an Offer Component, a Transaction Component, a Post-Transaction Component, a Receivables Management Knowledge Base and a Servicing Component. The Receivables Management Knowledge Base applies industry rules and regulations to the data. Users of the online marketplace may be Account Owners, Buyers, sellers, Servicers and the like. Users flag Accounts in the Consumer Reporting Agency database to be placed for sale on the online marketplace. Users may also define Selection Criteria for automatic buying, automatic selling, alerts or other such business rules.

Claims3

Dependent claims

A system of transacting for a financial instrument, comprising:

a. a reporting agency database, including account data associated with the financial instrument;
and
b. a processor, wherein said processor is configured for;
i. Selecting account data in the reporting database that satisfies a selection criteria;
ii. Offering a transaction for at least one selected financial instrument associated with the selected account data;
iii. Receiving an acceptance to the offered transaction from a third-party;
and
iv. Performing the accepted transaction for the at least one selected financial instrument.

5 more elements

Dependencies are inferred from the claim text.

System and method for an exchange of financial instruments

Life of this patent

System and method for an exchange of financial instruments

Life of this patent

Abstract

Claims3