Method and system for currency exchange by point of conversion
AssigneeInternational Monetary Specialists
InventorsJohn Golding, Joshua Trent
Life of this patent
Estimating the term…
Abstract
In one embodiment, one use of the disclosed method/system is for any multinational entity or individual performing currency exchanges is for business or personal use. This embodiment will greatly enhance the Transparency of the Cash Conversion Process at the ACTUAL POINT OF CONVERSION (POC), revealing dealt and offset pricings and TIME thereof thus providing the customer with a complete report of conversion as with any commodity conversion. With the POC method, the client will have a substantially complete accounting of the value of the funds conversion from one region's currency to another.
Claims9
A method for point of conversion analysis in a computing system, the method comprising:
- (a) retrieving data by the computing system from a plurality of data sources including currency to buy or sell, amount of currency to buy or sell, type of currency for conversion, a negotiated spread, and an offset rate;
- (b) storing the data in at least one data structure using a computing system;
- (c) compiling a point of conversion analysis based on the data by a computing system including calculating a market cost and a customer dealt rate;
- (d) providing by a computing system to a customer a point of conversion report based on the point of conversion analysis at the same time that an amount of currency to be converted is calculated by a computing system.
The method of claim 8 wherein the time is reported in hours, minutes, and seconds.
Dependencies are inferred from the claim text.