US 8,401,962 B1Granted

Systems and methods for providing enhanced account management services for multiple banks

AssigneeIsland Intellectual Property LLC

InventorsBruce Bent, Bruce Bent, II

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Abstract

A deposit interchange system, method and program product for managing deposits and withdrawals among a plurality of financial institutions participating in a program, the system comprising: electronic databases, storing aggregated transaction account information; and client transaction account information for the respective client transaction accounts; computers with instructions: (a) receiving respective excess amount data, (b) allocating excess amounts between the financial institutions, comprising: (1) determining a respective primary client transaction account sum for the financial institutions; (2) comparing the primary client transaction account sum for the respective financial institution to fund balance in aggregated accounts of the financial institution to determine a surplus or a deficit for the financial institution; (3) allocating funds among the aggregated accounts in financial institutions to bring the balance of funds in the aggregated accounts in the financial institution into substantial equality with their respective primary client transaction account sum.

Claims20

Dependent claims

A deposit interchange system, comprising:

one or more electronic databases, stored on one or more computer-readable media, comprising:
(a) aggregated deposit account information for a plurality of respective government-backed insured and interest-bearing aggregated deposit accounts held in a plurality of the respective financial institutions participating in a program, with the aggregated deposit accounts providing non-penalized liquidity for the funds held therein, the aggregated deposit account information comprising:
(1) a respective balance of funds held in the respective aggregated deposit accounts;
and
(2) for each of multiple of the financial institutions, a first amount of funds comprising a total balance of source funds from the respective financial institution held in one or more of the aggregated deposit accounts in the other financial institutions in the program, the source funds of a respective one of the financial institutions comprising funds where the respective financial institution is a source of the funds into the program;
(b) client account information for a plurality of client accounts, the client account information for a respective one of the client accounts comprising a balance of client account funds held in each of one or more of the aggregated deposit accounts holding funds of the respective client account;
and
one or more computers operably connected to the one or more databases, the one or more computers comprising memory, wherein the memory stores computer-readable instructions that, when executed, cause the one or more computers to perform the steps:
accessing data from the one or more databases, using the one or more computers, for a first amount of funds sourced to the program from a respective one of the financial institutions and held in one or more other of the financial institutions in one or more aggregated accounts therein;
allocating, using the one or more computers, a second amount of funds to the respective one financial institution based, at least in part, on the first amount of the funds sourced to the program from the respective one financial institution and held in one or more of the aggregated deposit accounts in the one or more other of the financial institutions;
generating and outputting data, using the one or more computers, for non-penalized deposit of funds into and/or withdrawal of funds from one or more of the aggregated deposit accounts based at least in part on a result of the allocating step;
and
updating or having updated the balance of funds held in one or more of the aggregated deposit accounts based at least in part on the deposit and/or withdrawal of funds from one or more of the aggregated deposit accounts, and updating for each of multiple of the client accounts the balance of client account funds held in one or more of the aggregated deposit accounts holding funds of the respective client account in the one or more electronic databases to reflect the allocation of funds.

10 more elements

A method, comprising:

accessing, using one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising:
(a) aggregated deposit account information for a plurality of respective government-backed insured and interest-bearing aggregated deposit accounts held in a plurality of the respective financial institutions participating in a program, with the aggregated deposit accounts providing non-penalized liquidity for the funds held therein, the aggregated deposit account information comprising:
(1) a respective balance of funds held in the respective aggregated deposit accounts;
and
(2) for each of multiple of the financial institutions, a first amount of funds comprising a total balance of source funds from the respective financial institution held in one or more of the aggregated deposit accounts in the other financial institutions in the program, the source funds of a respective one of the financial institutions comprising funds where the respective financial institution is a source of the funds into the program;
and
(b) client account information for a plurality of client accounts, the client account information for a respective one of the client accounts comprising a balance of client account funds held in each of one or more of the aggregated deposit accounts holding funds of the respective client account;
and
accessing data from the one or more databases, using the one or more computers, for a first amount of funds sourced to the program from a respective one of the financial institutions and held in one or more other of the financial institutions in one or more aggregated accounts therein;
allocating, using the one or more computers, a second amount of funds to the respective one financial institution based, at least in part, on the first amount of the funds sourced to the program from the respective one financial institution and held in one or more of the aggregated deposit accounts in the one or more other of the financial institutions;
generating and outputting data, using the one or more computers, for non-penalized deposit of funds into and/or withdrawal of funds from one or more of the aggregated deposit accounts based at least in part on a result of the allocating step;
and
updating or having updated the balance of funds held in one or more of the aggregated deposit accounts based at least in part on the deposit and/or withdrawal of funds from one or more of the aggregated deposit accounts, and updating for each of multiple of the client accounts the balance of client account funds held in one or more of the aggregated deposit accounts holding funds of the respective client account in the one or more electronic databases to reflect the allocation of funds.

10 more elements

A method, comprising:

accessing, using one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising:
(a) aggregated deposit account information for a plurality of respective FDIC-insured and interest-bearing aggregated deposit accounts held in a plurality of the respective financial institutions participating in a program, with the aggregated deposit accounts providing non-penalized liquidity for the funds held therein, the aggregated deposit account information comprising:
(1) a respective balance of funds held in the respective aggregated deposit accounts;
and
(2) for each of multiple of the financial institutions, a first amount of funds comprising a total balance of source funds from the respective financial institution held in one or more of the aggregated deposit accounts in the other financial institutions in the program, the source funds of a respective one of the financial institutions comprising funds where the respective financial institution is a source of the funds into the program;
and
(b) client account information for a plurality of client accounts, the client account information for a respective one of the client accounts comprising a balance of client account funds held in each of one or more of the aggregated deposit accounts holding funds of the respective client account;
and
accessing data from the one or more databases, using the one or more computers, for a first amount of funds sourced to the program from a respective one of the financial institutions and held in one or more other of the financial institutions in one or more aggregated accounts therein;
allocating, using the one or more computers, a second amount of funds to the respective one financial institution based, at least in part, on the first amount of the funds sourced to the program from the respective one financial institution and held in one or more of the aggregated deposit accounts in the one or more other of the financial institutions;
generating and outputting data, using the one or more computers, for non-penalized deposit of funds into and/or withdrawal of funds from one or more of the aggregated deposit accounts based at least in part on a result of the allocating step;
and
updating or having updated the balance of funds held in one or more of the aggregated deposit accounts based at least in part on the deposit and/or withdrawal of funds from one or more of the aggregated deposit accounts, and updating for each of multiple of client accounts the balance of client account funds held in one or more of the aggregated deposit accounts holding funds of the respective client account in the one or more electronic databases to reflect the allocation of funds.

10 more elements

Dependencies are inferred from the claim text.

Facts

Application: 12/453,390Filed 8 May 2009 · continuation
Priority: 21 Oct 1998
Granted: 19 Mar 2013
Term ends: Not estimatedThe source records don’t support an estimate.

Classification5 codes

G06Q 40/02
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: banking, e.g. interest calculation or account maintenance
G06Q 20/10
Payment architectures: specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
G06Q 40/00
Finance
G06Q 40/03
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: credit; Loans; Processing thereof

Family

Application09/176,340Parent of this continuation-in-part · filed 21 Oct 1998
Application09/677,535Parent of this continuation-in-part · filed 2 Oct 2000
Application10/071,053Parent of this continuation-in-part · filed 8 Feb 2002
Application60/442,849Us provisional application · filed 27 Jan 2003
Application10/382,946Parent of this continuation · filed 6 Mar 2003
US 7,536,350 B1Parent of this continuation
US 7,519,551 B2Parent of this continuation-in-part
Application10/382,946Parent of this continuation-in-part
US 7,752,129 B2Parent of this continuation-in-part
US 6,374,231 B1Parent of this continuation-in-part
US 2002/0091637 A1Published application
US 2005/0108149 A1Published application
US 2006/0212385 A2Published application
US 2006/0212389 A2Published application
US 2007/0271174 A2Published application
US 2008/0046361 A2Published application
US 8,401,962 B1This patent

From the US filing history. Foreign family members aren’t listed.