System and method for extracting value for consumers and institutions from depth of relationships

• US 20030208438A1
• Filed: 12/04/2002
• Published: 11/06/2003
• Est. Priority Date: 06/06/2000
• Status: Active Grant

• Current Assignee: Michael Rothman
• Original Assignee: Michael Rothman
• Inventors: Rothman, Michael
• Granted Patent: US 8,676,677 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

To this end, in one embodiment of the present invention, a consumer financial transaction system is provided by a lending institution enabling a consumer to make transactions via a transaction device. The system is comprised of a database storage device for maintaining several databases which are configured to store information corresponding to accounts held by each of the consumers. A server is also provided which maintains a compute interest qualify module configured to calculate a credit interest rate corresponding to number of accounts maintained by the consumer. Additionally, the server is provided which maintaining a compute interest pledge module configured to calculate a credit interest rate corresponding to the number of accounts maintained by the consumer pledged by thc consumer as security against the consumer'"'"'s credit account. The server can also be configured to adjust the consumers credit limit in an amount corresponding to the number of accounts maintained by each consumer pledged by the consumer as security against the consumer'"'"'s credit account. In another embodiment of the present invention, the system comprises a database storage device for maintaining several databases configured to store information corresponding to accounts held by each of said consumers. A server is also provided which maintains a secondary transaction module configured to apportion a withdrawal for a transaction between a consumer'"'"'s credit account and any one of the consumer'"'"'s deposit accounts.

Claims

1. A consumer financial transaction system provided by a lending institution enabling a consumer to make transactions via a transaction device, said system comprising:

a database storage device for maintaining a plurality of databases, said databases configured to store information corresponding to accounts held by each of said consumers with said lending institution; and

a server, said server maintaining an compute interest qualify module configured to calculate a credit interest rate corresponding to the number of said accounts maintained by said consumer with said lending institution.

2. A consumer financial transaction system as claimed in claim 1, wherein said plurality of databases is comprised of a customer financial relationship database, configured to store all of said consumer'"'"'s accounts held at said lending institution.

3. A consumer financial transaction system as claimed in claim 2, wherein said plurality of databases is comprised of an institutional parameters database, configured to store criteria used for determining which of said accounts are treated as qualifying accounts.

4. A consumer financial transaction system as claimed in claim 1, wherein said plurality of databases is comprised of a qualifying accounts database configured to store a listing of all of said consumer'"'"'s accounts held at said lending institution which qualify to lower said consumer'"'"'s credit interest rate.

5. A consumer financial transaction system as claimed in claim 1, wherein said server further maintains a compute qualify module configured to determine which of said consumer'"'"'s accounts at said lending institution qualify to lower said consumer'"'"'s credit interest rate.

6. A consumer financial transaction system as claimed in claim 1, wherein said server further maintains a compute credit line module configured to compute said consumer'"'"'s credit limit and base interest rate.

7. A consumer financial transaction system as claimed in claim 1, wherein said transaction device is a credit card.

12. A consumer financial transaction system as claimed in claim 1, wherein said server further maintains a compute credit line module configured to compute said consumer'"'"'s credit limit and base interest rate.

8. A consumer financial transaction system provided by a lending institution enabling a consumer to make transactions via a transaction device, said system comprising:

a database storage device for maintaining a plurality of databases, said databases configured to store information corresponding to accounts held by each of said consumers with said lending institution; and

a server, said server maintaining a compute interest pledge module configured to calculate a credit interest rate corresponding to the number of accounts maintained by said consumer with the lending institution pledged by said consumer as security against said consumer'"'"'s credit account.

9. A consumer financial transaction system as claimed in claim 8, wherein said server is further configured to adjust said consumers credit limit in an amount corresponding to the number of accounts maintained by each consumer with the lending institution pledged by said consumer as security against said consumer'"'"'s credit account.

10. A consumer financial transaction system as claimed in claim 8, wherein said plurality of databases is comprised of customer financial relationship database configured to store information pertaining to all of said consumer'"'"'s accounts held at lending institution.

11. A consumer financial transaction system as claimed in claim 10, wherein said system further comprises a means to denote a stored account in said financial relationship database as an account pledged in security of said consumer'"'"'s credit account.

13. A consumer financial transaction system provided by a lending institution enabling a consumer to make transactions via a transaction device, said system comprising:

a database storage device for maintaining a plurality of databases, said databases configured to store information corresponding to accounts held by each of said consumers with said lending institution; and

a server, said server maintaining a secondary transaction module configured to apportion a withdrawal for a transaction between a consumer'"'"'s credit account and any one of said consumer'"'"'s deposit accounts maintained by said consumer with said lending institution.

14. A consumer financial transaction system as claimed in claim 13, wherein said plurality of databases is comprised of a merchant customer code group database configured to store information related to merchant customer codes, used to identify transactions by type of merchant.

15. A consumer financial transaction system as claimed in claim 13, wherein said plurality of databases is comprised of a consumer financial relationship database configured to provide to said secondary transaction module a listing of all of said consumer'"'"'s accounts at said lending institution.

16. A consumer financial transaction system as claimed in claim 13, wherein said plurality of databases is comprised of a consumer financial preferences database configured to store consumer preferences pertaining to how a consumer wishes apportion a withdrawal for a transaction between said consumer'"'"'s credit accounts and any one of said consumer'"'"'s deposit accounts.

17. A consumer financial transaction system as claimed in claim 14, wherein said server is further provided with an allocation module configured to cross reference an incoming transaction'"'"'s merchant customer code against said merchant customer code database to properly identify the type of incoming transaction so as to provide said secondary transaction module the necessary information to process said transaction.

18. A consumer financial transaction method provided by a lending institution enabling a consumer to make transactions via a transaction device for use on a system, said method comprising the steps of:

computing a credit line for determining said consumer'"'"'s credit limit;

determining the number of qualifying accounts held by said consumer at said lending institution which are considered by said lending institution when

determining said consumer'"'"'s credit interest rates; and

reducing said consumer'"'"'s credit interest rate based on said qualifying accounts.

19. A consumer financial transaction method as claimed in claim 18 further comprising the step of accessing said consumer'"'"'s accounts at said lending institution.

20. A consumer financial transaction method as claimed in claim 19 further comprising the step of accessing institution parameters used to determine which of said user'"'"'s other accounts at said same lending institution qualify to reduce said credit interest rate for said consumer'"'"'s account.

21. A consumer financial transaction method as claimed in claim 20 further comprising the step of computing the number of qualifying accounts held by said user at said same lending institution.

22. A consumer financial transaction method as claimed in claim 21 further comprising the steps of storing said qualifying account information into a qualifying accounts database.

23. A consumer financial transaction method as claimed in claim 22 futher comprising the step of calculating a reduced credit interest rate for a consumer'"'"'s credit account corresponding to the number and type of qualifying accounts held by said consumer at said lending institution as stored in said qualifying account database.

24. A consumer financial transaction method provided by a lending institution enabling a consumer to make transactions via a transaction device for use on a system, said method comprising the steps of:

computing a credit line for determining said consumer'"'"'s credit limit;

determining the number of pledged accounts held by said consumer at said lending institution that are considered by said lending institution when determining said consumer'"'"'s credit interest rates; and

reducing said consumer'"'"'s credit interest rate based on said pledged accounts.

25. A consumer financial transaction method as claimed in claim 26 further comprising the steps of determining the number of pledged accounts that are considered by said lending institution when determining said consumer'"'"'s credit limit;

and

increasing said consumer'"'"'s credit limit based on said pledged accounts.

26. A consumer financial transaction method as claimed in claim 24 further comprising the step of accessing said consumer'"'"'s accounts at said same lending institution.

27. A consumer financial transaction method as claimed in claim 26 further comprising the step of computing the number of pledged accounts held by said user at said same lending institution.

28. A consumer financial transaction method as claimed in claim 27 further comprising the steps of storing said pledged accounts into a customer financial relationship database.

29. A consumer financial transaction method as claimed in claim 28 further comprising the step of calculating a reduced credit interest rate for a consumer'"'"'s credit account corresponding to the number and type of pledged accounts held by said consumer at said lending institution as listed in said customer financial relationship database.

30. A consumer financial transaction method as claimed in claim 28 further comprising the step of calculating an increased credit limit for a consumer'"'"'s credit account corresponding to the number and type of pledged accounts held by said consumer at said lending institution as listed in said customer financial relationship database.

31. A consumer financial transaction method provided by a lending institution enabling a consumer to make transactions via a transaction device for use on a system, said method comprising the steps of:

storing said consumer preferences regarding how said system apportions a withdrawal for transactions between a consumer'"'"'s credit accounts and deposit accounts; and

allocating said withdrawals for said transactions between said consumer'"'"'s credit and deposit accounts in accordance with said stored consumer preferences.

32. A consumer financial transaction method as claimed in claim 31 further comprising the step of checking a consumer account for validity.

33. A consumer financial transaction method as claimed in claim 32 further comprising the step of accessing said consumer'"'"'s account preferences comprised of, minimum deposit account balance, credit account balance, credit card maximum, and allocation percentages between said consumer'"'"'s deposit and credit accounts.

34. A consumer financial transaction method as claimed in claim 33 further comprising the step of allocating against said consumer'"'"'s deposit account a withdrawal amount for said transaction determined by said consumer'"'"'s stored allocation percentage preferences.

35. A consumer financial transaction method as claimed in claim 34 further comprising the step of determining the consumer'"'"'s available credit and allocating a withdrawal against said consumer'"'"'s credit account the remaining withdrawal amount of said transaction cost if said available credit is sufficient, and rejecting said transaction if said credit limit is insufficient to cover the withdrawal amount in excess of said withdrawal amount allocated against said consumer'"'"'s deposit account.

36. A consumer financial transaction system provided by a lending institution enabling a consumer to make transactions via a transaction device, said system comprising:

a database storage device for maintaining a plurality of databases, said databases configured to store information corresponding to accounts held by each of said consumers with said lending institution;

a server, said server maintaining an compute interest qualify module configured to calculate a credit interest rate corresponding to the number of said accounts maintained by said consumer with said lending institution;

a compute interest pledge module configured to calculate a credit interest rate corresponding to the number of accounts maintained by said consumer with the lending institution pledged by said consumer as security against said consumer'"'"'s credit account; and

a secondary transaction module, configured to apportion a withdrawal for a transaction between a consumer'"'"'s credit account and any one of said consumer'"'"'s deposit accounts maintained by said consumer with said lending institution.

37. A consumer financial transaction method provided by a lending institution enabling a consumer to make transactions via a transaction device for use on a system, said method comprising the steps of:

computing a credit line for determining said consumer'"'"'s credit limit;

determining the number of qualifying accounts and pledge accounts held by said consumer at said lending institution which are considered by said lending institution when determining said consumer'"'"'s credit interest rates;

reducing said consumer'"'"'s credit interest rate based on said qualifying accounts and said pledge accounts;