Unified banking services via a single financial account
First Claim
1. A method for managing an integrated financial account with multiple asset and liability components, the method comprising:
- establishing, for an account holder, a single, integrated financial account having one of more components, each component being at any particular time either an asset or liability;
entering a transaction corresponding to a component of the one or more components;
determining a net account value corresponding to the integrated account based upon all the components;
crediting interest at a first rate to the integrated account if the net account value is positive; and
deducting interest at a second rate form the integrated account if the net account value is negative.
1 Assignment
0 Petitions
Accused Products
Abstract
Provided is an integrated financial account that encompasses all types of transactions. The balance of the account is determined by withdrawals and deposits regardless of the type of transaction to which the withdrawal or deposit corresponds. If a debt is presented, the net balance of the account is adjusted downward accordingly. If a credit is presented, the balance is adjusted upward accordingly. If an account has a negative balance, the balance is adjusted to reflect interest expense. If account has a positive balance, an agreed upon interest is accrued. A balance of the integrated account can include collateral and obligations that the customer places in the account. Information about the account can be downloaded to a customer'"'"'s personal financial management (PFM) tools, which could segment the account into separate components corresponding to traditional accounts. The integrated account can be used as collateral for insurance with balance adjusted based upon risk.
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Citations
20 Claims
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1. A method for managing an integrated financial account with multiple asset and liability components, the method comprising:
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establishing, for an account holder, a single, integrated financial account having one of more components, each component being at any particular time either an asset or liability;
entering a transaction corresponding to a component of the one or more components;
determining a net account value corresponding to the integrated account based upon all the components;
crediting interest at a first rate to the integrated account if the net account value is positive; and
deducting interest at a second rate form the integrated account if the net account value is negative. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A system for managing an integrated financial account with multiple asset and liability components, the system comprising:
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a single, integrated financial account comprising one of more components, each component being at any particular time either an asset or liability;
logic for entering a transaction corresponding to a component of the one or more components;
logic for determining a net account value corresponding to the integrated account based upon all the components;
logic for crediting interest at a first rate to the integrated account if the net account value is positive; and
logic for deducting interest at a second rate form the integrated account if the net account value is negative. - View Dependent Claims (9, 10, 11, 12, 13, 14)
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15. A computer programming product for managing an integrated financial account with multiple asset and liability components, the method comprising:
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a memory;
logic, stored on the memory, for maintaining a single, integrated financial account comprising one of more components, each component being at any particular time either an asset or liability;
logic, stored on the memory, for entering a transaction corresponding to a component of the one or more components;
logic, stored on the memory, for determining a net account value corresponding to the integrated account based upon all the components;
logic, stored on the memory, for crediting interest at a first rate to the integrated account if the net account value is positive; and
logic, stored on the memory, for deducting interest at a second rate form the integrated account if the net account value is negative. - View Dependent Claims (16, 17, 18, 19, 20)
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Specification