Flexible open origination

• US 10,134,018 B2
• Filed: 03/08/2013
• Issued: 11/20/2018
• Est. Priority Date: 03/08/2013
• Status: Active Grant

• Current Assignee: MX Technologies Inc.
• Original Assignee: MX Technologies Inc.
• Inventors: Caldwell, John Ryan
• Primary Examiner(s): Ebersman, Bruce I
• Application Number:
  US13/815,562
• Publication Number:
  US 20140258116A1
• Time in Patent Office: 2,083 Days
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/3221 Access to banking information through M-devices
• CPC Class Codes: G06Q 20/3223 Realising banking transactions through M-devices

Abstract

In the field of banking and financial services, a flexible Open Origination allows any type of mobile, internet, online, personal financial management software, finance tool, or other useful function, device or software, that a bank or financial institution provides to account holders, and offers that same functionality that allows any user regardless of account status. Non-account holders can download and utilize the Banking Software in question in order to enjoy its features, an in order to become familiar with the experience of doing business with the bank or financial institution that provides the software. This method, system and software allows any user, regardless of where his/her accounts are located, to use the software and benefit from its functionality.

Claims

1. A method of flexible open origination comprising:

storing an application on a computer system for a financial institution;

receiving an application download request, over the internet, at the computer system from an account holder'"'"'s smart phone, the account holder having a deposit account at the financial institution;

wirelessly downloading the application to the account holder'"'"'s smart phone;

automatically exposing account data of the account holder'"'"'s deposit account stored on the computer system of the financial institution to the application on the account holder'"'"'s smart phone;

facilitating, through the application on the account holder'"'"'s smart phone, a full set of banking transaction types by the account holder for the deposit account at the financial institution;

receiving an application download request, over the internet, at the computer system from a non-account holder'"'"'s smart phone, the non-account holder not having any deposit account at the financial institution, the non-account holder having a plurality of third-party deposit accounts at a plurality of third-party financial institutions;

wirelessly downloading the application to the non-account holder'"'"'s smart phone;

automatically aggregating account data of the non-account holder'"'"'s plurality of third-party deposit accounts from storage on third-party computer systems for the plurality of third-party financial institutions to storage on the computer system for the financial institution, the aggregated account data comprising transaction data for the non-account holder that is received from the plurality of third-party financial institutions over the internet;

automatically exposing the aggregated account data to the application on the non-account holder'"'"'s smart phone such that the non-account holder can view account data for each of the plurality of third-party deposit accounts for the non-account holder within the application; and

facilitating, through the application on the non-account holder'"'"'s smart phone, substantially the same full set of banking transaction types and personal financial management functions by the non-account holder for the third-party deposit account at the third-party financial institution, wherein the facilitating causes the application to present substantially the same full functionality to the non-account holder as the application presents to the account holder, the full set of personal financial management functions comprising one or more of personal budgeting, income tracking, net worth analysis, and account transaction viewing;

offering one or more functions for analyzing the non-account holder'"'"'s transaction data from the plurality of third-party deposit accounts through the application, the one or more functions comprising determining account balances, generating and presenting a spending pie, transaction category breakdown, and budgeting information; and

offering one or more banking services provided by the financial institution to the non-account holder through the application to convert the non-account holder to an account holder of the financial institution, the one or more banking services comprising one or more of opening an account at the financial institution and converting an account to the financial institution.

2. The method as recited in claim 1, wherein the same full set of banking transaction types includes bill pay transactions.

3. The method as recited in claim 1, wherein the same full set of banking transaction types includes money transfer transactions.

4. The method as recited in claim 1, wherein the same full set of banking transaction types includes withdrawal transactions.

5. The method as recited in claim 1, wherein the same full set of banking transaction types includes deposit transactions.

6. The method as recited in claim 1, wherein the same full set of banking transaction types includes online banking transactions.

7. The method as recited in claim 1, wherein the same full set of banking transaction types includes investment transactions.

8. The method as recited in claim 1, wherein the same full set of banking transaction types includes wire transfer transactions.

9. The method as recited in claim 1, wherein the transaction data for the non-account holder comprises one or more of a date of a transaction, an amount of the transaction, a description of the transaction, and a category for the transaction.

10. The method as recited in claim 1, further comprising offering one or more services provided by the financial institution to the non-account holder through the application, the one or more services comprising one or more of opening an account at the financial institution, converting an account to the financial institution, converting a loan to the financial institution, switching bill pay services to the financial institution, switching direct deposit services to the financial institution, and linking external accounts to the financial institution.

11. The method as recited in claim 1, further comprising offering one or more functions for analyzing the non-account holder'"'"'s transaction data from the plurality of third-party deposit accounts through the application, the one or more functions comprising determining account balances, generating and presenting a spending pie, transaction category breakdown, and budgeting information.

12. A program product comprising a non-transitory computer-readable storage medium that stores code executable by a processor, the executable code comprising code to perform:

storing an application on a computer system for a financial institution;

receiving an application download request, over the internet, at the computer system from an account holder'"'"'s smart phone, the account holder having a deposit account at the financial institution;

wirelessly downloading the application to the account holder'"'"'s smart phone;

automatically exposing account data of the account holder'"'"'s deposit account stored on the computer system of the financial institution to the application on the account holder'"'"'s smart phone;

facilitating, through the application on the account holder'"'"'s smart phone, a full set of personal financial management functions by the account holder for the deposit account at the financial institution;

receiving an application download request, over the internet, at the computer system from a non-account holder'"'"'s smart phone, the non-account holder not having any deposit account at the financial institution, the non-account holder having a plurality of third-party deposit accounts at a plurality of third-party financial institutions;

wirelessly downloading the application to the non-account holder'"'"'s smart phone;

automatically aggregating account data of the non-account holder'"'"'s plurality of third-party deposit accounts from storage on third-party computer systems for the plurality of third-party financial institutions to storage on the computer system for the financial institution, the aggregated account data comprising transaction data for the non-account holder that is received from the plurality of third-party financial institutions over the internet;

automatically exposing the aggregated account data to the application on the non-account holder'"'"'s smart phone such that the non-account holder can view account data for each of the plurality of third-party deposit accounts for the non-account holder within the application;

facilitating, through the application on the non-account holder'"'"'s smart phone, substantially the same full set of banking transaction types and personal financial management functions by the non-account holder for the third-party deposit account at the third-party financial institution, wherein the facilitating causes the application to present substantially the same full functionality to the non-account holder as the application presents to the account holder, the full set of personal financial management functions comprising one or more of personal budgeting, income tracking, net worth analysis, and account transaction viewing;

offering one or more functions for analyzing the non-account holder'"'"'s transaction data from the plurality of third-party deposit accounts through the application, the one or more functions comprising determining account balances, generating and presenting a spending pie, transaction category breakdown, and budgeting information; and

offering one or more banking services provided by the financial institution to the non-account holder through the application to convert the non-account holder to an account holder of the financial institution, the one or more services comprising one or more of opening an account at the financial institution and converting an account to the financial institution.

13. The program product as recited in claim 12, wherein the transaction data for the non-account holder comprises one or more of a date of a transaction, an amount of the transaction, a description of the transaction, and a category for the transaction.

14. The program product as recited in claim 12, wherein the code is further executable by the processor to perform offering one or more services provided by the financial institution to the non-account holder through the application, the one or more services comprising one or more of opening an account at the financial institution, converting an account to the financial institution, converting a loan to the financial institution, switching bill pay services to the financial institution, switching direct deposit services to the financial institution, and linking external accounts to the financial institution.

15. The program product as recited in claim 12, wherein the code is further executable by the processor to perform analyzing the non-account holder'"'"'s transaction data from the plurality of third-party deposit accounts through the application, the one or more functions comprising determining account balances, generating and presenting a spending pie, transaction category breakdown, and budgeting information.