Host exchange in bill paying services
AssigneeYodlee, Inc.
InventorsPeter Alexander Hazlehurst, Cindy Alvarez
Life of this patent
Estimating the term…
Abstract
An account exchange system is provided by a data aggregation service enabled for gathering data for a subscriber from a data repository of a first financial institution, using account exchange software operating on a server coupled to the data aggregation service. Initiated by a subscriber the account exchange software causes an account to be terminated at the first financial institution and a new account to be opened at a second financial institution, using data from the first financial institution, and processing the data to be compatible with data requirements at the second financial institution.
Claims22
A system for exchanging accounts, comprising:
- a network-connected server mining information for clients from network sites;
- and
- software executing on the network-connected server from a coupled machine-readable medium, including a portion mining the information for clients from network sites, and a portion providing account exchange functions;
- wherein, in the process of data mining for a client, the system discovers that a client has initiated a transaction to close an account at one financial institution and open an account at another financial institution, and then solicits the client to subscribe to a service assisting the client with the task of switching service accounts and account data between the accounts.
A method for exchanging accounts, comprising the steps of:
- (a) mining information for clients from network sites using a network-connected server;
- (b) discovering, in the process of information mining for a client, that the client has initiated a transaction to close an account at one financial institution and open an account at another financial institution;
- and
- (c) soliciting the client to subscribe to a service assisting the client with the task of switching service accounts and account data between the accounts.
Dependencies are inferred from the claim text.