Systems and methods for providing individualized financial access

• US 20040088261A1
• Filed: 11/14/2002
• Published: 05/06/2004
• Est. Priority Date: 11/04/2002
• Status: Active Grant

• Current Assignee: Western Union
• Original Assignee: First Data Corporation (Fiserv Incorporated)
• Inventors: Newton, Robert W., Moore, Gary F., Shapiro, David T.
• Granted Patent: US 8,630,946 B2
• Time in Patent Office: Days
• US Class Current: 705/64
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/382 insuring higher security of transaction
• CPC Class Codes: G06Q 20/4014 Identity check for transactions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

Systems and methods for implementing one or a series of value transfers. In some instances, the systems and methods include web or Internet based user interfaces that provide a mechanism whereby a user can implement a transfer plan without interacting with a human operator. Further, in some instances, such systems and methods provide a mechanism for authorizing access to one or more asset accounts from which value is transferred, and/or recipient accounts to which value is transferred. In some cases, the authorization function is performed by an entity that enjoys a pre-existing relationship with a user accessing the systems of the present invention, while any actual transfers are performed by a third party entity. This can be an advantage where authorization requires a signature or other interaction with a user sufficient to conform to electronic signature laws.

Claims

1. A system for facilitating individualized financial services, the system comprising:

a first self-service graphical interface operable to accept information about a first account;

a second self-service graphical interface operable to accept information about a second account; and

a third self-service graphical interface operable to accept directions to perform recurring transfers from the first account to the second account, wherein the recurring transfers include at least a first and a second transfer.

2. The system of claim 1, the system further comprising:

a fourth self-service graphical interface operable to accept authentication information.

3. The system of claim 2, the system further comprising:

a first processor in communication with the first, second, and fourth self-service graphical interfaces, wherein the first processor receives;

the information about the first account;

the information about the second account;

the authentication information; and

wherein the first processor is coupled to a first computer readable medium that includes instructions executable by the first processor to authorize access to the first account based at least in part on the authentication information;

a second processor in communication with the first processor and the third self-service graphical interface, wherein the second processor receives;

at least a portion of the information about the first account;

at least a portion of the information about the second account; and

the directions to perform the recurring transfers from the first account to the second account; and

wherein the second processor is coupled to a second computer readable medium that includes instructions executable by the second processor to initiate the recurring transfers.

4. The system of claim 3, wherein the first processor is maintained by an entity that maintains the first account.

5. The system of claim 4, wherein the first account is a bank account.

6. The system of claim 3, wherein the first processor is maintained by an entity that maintains the first account, and wherein the second processor is maintained by an entity that maintains the second account.

7. The system of claim 6, wherein the second account is a loan.

8. The system of claim of claim 3, wherein the first account is maintained by a first entity, the second account is maintained by a second entity, and the second processor is maintained by a third entity.

9. The system of claim 2, the system further comprises:

a first processor maintained by a first entity and in communication with the first, and fourth self-service graphical interfaces, wherein the first processor receives;

the information about the first account; and

the authentication information; and

wherein the first processor is coupled to a first computer readable medium that includes instructions executable by the first processor to authorize access to the first account based at least in part on the authentication information; and

a second processor maintained by a second entity and in communication with the first processor, and the second and third self-service graphical interfaces, wherein the second processor receives;

at least a portion of the information about the first account;

the information about the second account; and

the directions to perform the recurring transfers from the first account to the second account; and

wherein the second processor is coupled to a second computer readable medium that includes instructions executable by the second processor to initiate the recurring transfers.

10. The system of claim 1, wherein the first account is a bank account, and the second account is a loan.

11. The system of claim 1, wherein the first account is a payroll account of an employer of a user of the system.

12. The system of claim 1, wherein the first account is a revolving credit account.

13. The system of claim 1, wherein the second account is a fixed term loan.

14. The system of claim 1, wherein the second account is a revolving credit account.

15. The system of claim 1, wherein the second account is an investment account.

16. The system of claim 1, the system further comprises:

a fourth self-service graphical interface operable to accept information about a financial transaction, wherein the directions to perform recurring transfers from the first account to the second account are at least partially populated to the third self-service graphical interface based on the information about the financial transaction.

17. The system of claim 1, wherein one of more of the first, second and third interfaces are presented on a common web page.

18. A system for facilitating individualized, self served financial services, the system comprising:

a computer readable medium, wherein the computer readable medium comprises instructions executable by a computer to;

present a first user interface operable to accept information about a financial transaction associated with a first account;

obtain a characteristic of the first account; and

present a second user interface including the characteristic of the first account and operable to accept directions to perform a value transfer from a second account to the first account to at least partially satisfy the financial transaction.

19. The system of claim 18, wherein the computer readable medium is a first computer readable medium and the computer is a first computer, the system further comprising:

a second computer readable medium, wherein the second computer readable medium comprises instructions executable by a second computer to;

present a third user interface operable to accept authentication information, wherein the authentication information includes an identification of the second account;

authenticate a user based at least in part on the authentication information; and

provide an indication of the authentication to the first computer.

20. The system of claim 18, wherein the computer is a first computer, and wherein the computer readable medium further comprises instructions executable by the first computer to:

receive an authentication from a second computer, wherein the authentication permits the first computer to initiate the value transfer from the second account to the first account; and

initiate the value transfer from the second account to the first account.

21. The system of claim 18, wherein the computer readable medium further comprises instructions executable by the computer to:

present a third user interface operable to accept directions to perform a value transfer from a third account to the second account in relation to the financial transaction.

22. The system of claim 21, wherein the first account is a loan account, the second account is a revolving credit account, and the third account is a bank account.

23. The system of claim 18, wherein the computer readable medium further comprises instructions executable by the computer to:

initiate a value transfer from a third account to the first account, wherein the value transfer is in an amount that corresponds to the directions to perform a value transfer from the second account to the first account; and

initiate a value transfer from the second account to the third account, wherein the value transfer is in an amount that corresponds to the value transfer from the third account to the first account.

24. The system of claim 23, wherein the first account is a loan account, the second account is a home equity credit line, and the third account is a bank account.

25. The system of claim 18, wherein the characteristic of the first account is a payment due date.

26. The system of claim 18, wherein the characteristic of the first account is an amount due.

27. A method for implementing an individualized financial plan, the method comprising:

receiving an authorization to access a first account;

providing a first user interface, wherein the first user interface is operable to accept information about a second account;

receiving the information about the second account;

providing a second user interface, wherein the second user interface is operable to accept directions to perform recurring transfers from the first account to the second account, and wherein the recurring transfers include at least a first and a second transfer;

receiving the directions to perform the recurring transfers from the first account to the second account;

initiating the first transfer based at least in part on the authorization; and

initiating the second transfer based at least in part on the authorization.

28. The method of claim 27, the method further comprising:

requesting a characteristic about the second account; and

receiving the characteristic of the second account, wherein the characteristic of the second account is provided in relation to the second user interface.

29. The method of claim 28, wherein the characteristic of the second account is selected from a group consisting of:

a payment due date, a payment amount, a balance amount, and an early payment incentive.

30. The method of claim 28, wherein initiating the first transfer is based at least in part on the characteristic of the second account.

31. The method of claim 27, wherein the first account is selected from a group consisting of:

a revolving credit account, a bank account, and a paycheck.

32. The method of claim 27, wherein the second account is selected from a group consisting of a revolving credit account and a loan account.

33. The method of claim 27, the method further comprising:

providing a third user interface, wherein the third user interface is operable to accept information about a user'"'"'s pay period;

receiving the information about the user'"'"'s pay period; and

wherein initiating the first transfer and the second transfer are based at least in part on the user'"'"'s pay period.

34. The method of claim 33, wherein the first account is a paycheck.

35. The method of claim 27, the method further comprising:

providing a third user interface, wherein the third user interface is operable to accept information to authorize use of an interim account;

receiving the information to authorize use of the interim account;

authorizing use of the interim account; and

wherein initiating the first transfer includes initiating a third transfer from the interim account to the second account, and subsequently initiating a fourth transfer from the first account to the interim account.

36. The method of claim 35, wherein the interim account is a revolving credit account, the first account is selected from a group consisting of a bank account and a paycheck, and the second account is a loan account.

37. The method of claim 27, wherein the authorization to access the first account is received from a third party.

38. The method of claim 27, wherein receiving the authorization to access the first account comprises:

providing a third user interface, wherein the third user interface is operable to receive authorization information related to the first account;

receiving the authorization information; and

authorizing access to the first account based at least in part on the authorization information.

39. A method for performing garnishments, the method comprising:

receiving a garnishment authorization, wherein the garnishment authorization is associated with a paycheck;

providing a first user interface, wherein the first user interface is operable to accept information about an account;

receiving the information about the account;

providing a second user interface, wherein the second user interface is operable to accept directions to perform recurring transfers from the paycheck to the account;

receiving the directions to perform the recurring transfers from the paycheck to the account; and

initiating a first transfer from the paycheck to the account based at least in part on the garnishment authorization; and

initiating a second transfer from the paycheck to the account based at least in part on the garnishment authorization.

40. A method for collecting delinquent accounts, the method comprising:

requesting authorization from an account owner to access an asset account associated with the account owner, wherein the account owner is liable for a delinquent account;

receiving the authorization to access the asset account;

providing the authorization to access the asset account via a first user interface;

accessing a second user interface operable to accept information about the delinquent account and providing the information about the delinquent account;

accessing a third user interface operable to accept directions to perform a transfer from the asset account to the delinquent account; and

providing the directions to perform a transfer from the asset account to the delinquent account.

41. The method of claim 40, wherein the directions to perform a transfer from the asset account to the delinquent account include directions to perform recurring transfers from the asset account to the delinquent account.

42. The method of claim 40, wherein the asset account is selected from a group consisting of:

a paycheck, a revolving credit account, and a bank account.

43. A method for providing an individualized financial plan, the method comprising:

authenticating a user, wherein access to a first account associated with the user is authorized; and

directing a user to a graphical interface in communication with a processor, wherein the graphical interface is operable to;

receive information about a second account from the user;

receive directions for performing a series of value transfers from the first account to the second account; and

wherein the processor initiates the series of value transfers.