US 9,805,344 B1 · Notification system and method

Abstract

Systems, methods, and program products for performing cash sweep transactions with customer control are disclosed. A deposit sweep computer system may determine first allocations of funds for a plurality of customers. The system may determine for a first subset of the customers that their funds are allocated to respective different depository institutions than previously used for the respective customer. The system may generate and transmit to client devices associated with the first subset of customers machine-readable instructions to render respective destination institution management graphical user interfaces providing an indication of the respective different depository institutions along with accept options and reject options. The system may receive one or more selections of accept options or reject options. The system may then determine and execute second allocations based at least in part upon the first allocations and the one or more selections of the reject options.

A method of performing a deposit sweep transaction, comprising:

(a) identifying a plurality of new destination depository institutions for allocating funds of one or more of a plurality of customers, comprising:
(1) receiving, at a deposit sweep computer system comprising one or more computers, a deposit sweep file for a deposit sweep program, the deposit sweep file comprising transaction information;
(2) determining, by the deposit sweep computer system based at least in part upon the transaction information, allocations of the funds for the one or more of the plurality of customers, the allocations comprising identifications, for each respective customer, of a plurality of respective destination depository institutions and respective amounts of the funds to allocate to each respective destination depository institution;
(3) determining, by the deposit sweep computer system, the plurality of new destination depository institutions for at least a first respective customer by identifying each of the plurality of respective destination depository institutions that is not currently holding customer funds for the deposit sweep program for the at least first respective customer;
and
(b) obtaining a client approval for the allocation of the funds to one of the identified plurality of new destination depository institutions from the at least first respective customer corresponding to the funds to be allocated via a client device, said obtaining comprising, for said at least first customer:
(1) generating, by the deposit sweep computer system, first machine-readable instructions to render a destination institution management graphical user interface comprising a new destination depository institution allocation notification indicating that at least a portion of the customer funds are to be allocated to the one of the identified plurality of new destination depository institutions and further comprising a graphical accept option to approve the new destination depository institution allocation and a graphical reject option to reject the new destination depository institution allocation;
(2) providing, by the deposit sweep computer system to the client device, the first machine-readable instructions, causing the client device to activate an interface application to render the destination institution management graphical user interface on a display screen operatively connected to the client device;
(c) upon receiving, at the deposit sweep computer system from the client device, the client approval of the new destination depository institution allocation via the graphical accept option of the destination institution management graphical user interface, executing, by the deposit sweep computer system, the allocation of funds;
and
(d) upon receiving, at the deposit sweep computer system from the client device, a client rejection of the new destination depository institution allocation via the graphical reject option of the destination institution management graphical user interface, updating the allocation of the funds by obtaining a client designation of one or more alternate destination depository institutions from the at least first respective customer corresponding to the funds to be allocated via the client device, said updating comprising, for said at least first customer:
(1) generating, by the deposit sweep computer system, second machine-readable instructions to render an updated destination institution management graphical user interface comprising a first display data, the first display data comprising one or more alternate depository institution selection options from the identified plurality of new destination depository institutions;
(2) providing, by the deposit sweep computer system to the client device, the second machine-readable instructions, causing the client device to render the updated destination institution management graphical user interface;
(3) receiving, at the deposit sweep computer system from the client device via the updated destination institution management graphical user interface, an alternate depository institution selection comprising a selection of at least one of the alternate depository institution selection options;
(4) determining, by the deposit sweep computer system, an updated allocation of funds based at least in part upon the alternate depository institution selection;
and
(5) executing, by the deposit sweep computer system, the updated allocations of funds.

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Notification system and method

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Notification system and method

Life of this patent

Abstract

Claims15