System and method for delegating management of a financial transaction account to a designated assistant

• US 20060282377A1
• Filed: 10/11/2005
• Published: 12/14/2006
• Est. Priority Date: 06/10/2005
• Status: Active Grant

• Current Assignee: Liberty Peak Ventures, LLC (Dominion Harbor Enterprises, LLC)
• Original Assignee: American Express Marketing & Development Corporation (American Express Company)
• Inventors: Edwards, Brent M., Thompson, Jane H.C., Rosenfeld, Marc C., Wright, Andre R., Sondermeyer, Robert J.
• Granted Patent: US 8,700,523 B2
• Time in Patent Office: Days
• US Class Current: 705/39
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/2295 Parent-child type, e.g. where parent has control on child rights
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• 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 50/00 Information and communication technology [ICT] specially adapted for implementation of business processes of specific business sectors, e.g. utilities or tourism healthcare informatics G16H

Abstract

Systems, methods and computer program products for enabling a holder of a transaction account linked to a financial transaction instrument to delegate management of the transaction account to an assistant. Information relating to the transaction account, including at least identification information relating to the holder of the transaction account, is stored in a database. The database stores financial transaction data relating to financial transactions performed using the financial transaction instrument. A designation of at least one assistant to manage the transaction account on behalf of the holder is accepted and stored. Assistant management authentication data associated with the transaction account is established, to be used by the assistant to execute management instructions at a designated level of management access. An instruction from the assistant is accepted to access transaction data associated with the transaction account.

Claims

1. A method for enabling a holder of a transaction account linked to a financial transaction instrument to delegate management of the transaction account, comprising the steps of:

storing, in a database, information relating to the transaction account, the information including at least identification information relating to the holder of the transaction account and transaction data relating to a plurality of financial transactions using the financial transaction instrument;

accepting and storing a designation of at least one assistant to manage the transaction account on behalf of the holder;

establishing assistant management authentication data associated with the transaction account, to be used by the assistant to obtain access to the transaction data relating to the plurality of financial transactions; and

accepting an instruction from the assistant to access the transaction data relating to at least one of the plurality of financial transactions.

2. The method of claim 1, further comprising the step of accepting and storing the designation of a level of management access defining a set of actions the assistant is authorized to perform in managing the transaction account.

3. The method of claim 1, further comprising the step of accepting and storing a designation of a second assistant who, in addition to the first-mentioned assistant, is authorized to manage the transaction account.

4. The method of claim 3, further comprising the step of accepting and storing, for each assistant, a respective designation of a level of management access defining a set of actions that that assistant is authorized to perform in managing the transaction account.

5. The method of claim 1, wherein said step of accepting and storing a designation of the assistant to manage the transaction account is performed for a plurality of account holders, each having a separate transaction account linked to their own, respective transaction account instrument and each designating the same assistant.

6. The method of claim 1, wherein said step of accepting and storing a designation of the assistant is performed when the holder of the transaction account opens the transaction account.

7. The method of claim 1, wherein said step of accepting and storing a designation of the assistant is performed after the transaction account has been opened and has been used for at least one financial transaction.

8. The method of claim 2, further comprising the step of accepting and storing a new designation that changes the level of management access of the assistant

9. The method of claim 1, further comprising the step of accepting and storing an instruction terminating authorization of the assistant.

10. The method of claim 1, wherein the management instruction is received from the assistant via the Internet.

11. The method of claim 1, wherein the management instruction is received from the assistant over a communication device.

12. The method of claim 11, wherein the communication device comprises a telephone, a cellular telephone, or a facsimile

13. The method of claim 1, wherein said step of accepting and storing the designation of the assistant and said step of establishing the assistant management authentication data are performed at a single integrated server.

14. The method of claim 1, wherein the assistant is an employee working for the account holder.

15. A system for enabling a holder of a transaction account linked to a financial transaction instrument to delegate management of the transaction account, comprising:

a database storing information relating to the transaction account, the information including at least identification information relating to the holder of tie transaction account and transaction data relating to financial transactions using the financial transaction instrument;

first storage containing a stored designation of at least one assistant to manage the transaction account on behalf of the holder;

second storage containing assistant management authentication data associated with the transaction account, to be used by the assistant to obtain access to the transaction data relating to the plurality of financial transactions; and

a processor for controlling said first and said second storage, for managing the database, and for accepting an instruction from the assistant to access the transaction data relating to at least one of the plurality of financial transactions.

16. The system of claim 15, further comprising a database processor for accepting and storing, in the database, a designation or a level of management access defining a set of actions the assistant is authorized to perform in managing the transaction account.

17. The system of claim 15, wherein said database is structured to accept and store a designation of a second assistant who, in addition to the first-mentioned assistant, is authorized to manage the transaction account.

18. The system of claim 17, wherein said database is structured to accept and store, for each assistant, a respective designation of a level of management access defining a set of actions that that assistant is authorized to perform in managing the transaction account.

19. The system of claim 15, wherein said database is structured to accept and store a designation of the assistant in association with respective transaction accounts of a plurality of account holders, each having a separate transaction account linked to their own, respective transaction account instrument and each designating the same assistant.

20. The system of claim 16, wherein said database is structured to accept and store a new designation that changes the level of management access of the assistant.

21. The system of claim 16, wherein said database is structured to accept and store an instruction terminating authorization of the assistant.

22. The system of claim 15, wherein the designation of the assistant and the assistant management authentication data are stored in a single integrated server.

23. A computer program product comprising a computer usable medium having control logic stored therein for causing a computer to allow a holder of a transaction account linked to a financial transaction instrument to delegate management of the transaction account, said control logic comprising:

first computer readable program code means for causing the computer to store, in a database, information relating to the transaction account, the information including at least identification information relating to the holder of the transaction account, and transaction data relating to a plurality of financial transactions using the financial transaction instrument;

second computer readable program code means for causing the computer to accept and store a designation of at least one assistant to manage the transaction account on behalf of the holder;

third computer readable program code means for causing the computer to accept and store assistant management authentication data associated with the transaction account, to be used by the assistant to obtain access to the transaction data relating to the plurality of financial transactions; and

fourth computer readable program code means for causing the computer to accept an instruction from the assistant to access the transaction data relating to at least one of the plurality of financial transactions.

24. The computer program product of claim 23, farther comprising:

fifth computer readable program code means for causing the computer to accept and store the designation of a level of management access defining a set of actions the assistant is authorized to perform in managing the transaction account.

25. The computer program product of claim 23, further comprising:

fifth computer readable program code means for causing the computer to accept and store a designation of a second assistant who, in addition to the first mentioned assistant, is authorized to manage the transaction account.

26. The computer program product of claim 23, wherein accepting and storing a designation of the assistant to manage the transaction account is performed for a plurality of account holders, each having a separate transaction account linked to their own respective transaction account instrument and each designating the same assistant

27. The computer program product of claim 25, further comprising:

fifth computer readable program code means for causing the computer to accept and store, for each assistant, a respective designation of a level of management access defining a set of actions that that assistant is authorized to perform in managing the transaction account.

28. The computer program product of claim 23, wherein accepting and storing a designation of the assistant is performed when the holder of the transaction account opens the transaction account.

29. The computer program product of claim 23, wherein accepting and storing a designation of the assistant is performed after the transaction account has been opened and has been used for at least one financial transaction.

30. The computer program product of claim 24, further comprising:

fifth computer readable program code means for causing the computer to accept and store a new designation that changes the level of management access of the assistant.

31. The computer program product of claim 24, further comprising:

fifth computer readable program code means for causing the computer to accept and store an instruction terminating authorization of the assistant.

32. The computer program product of claim 24, wherein the management instruction is received from the assistant via the Internet.

33. The computer program product of claim 24, wherein the management instruction is received from the assistant over a communication device.

34. The computer program product of claim 33, wherein the communication device comprises a telephone, a cellular telephone, or a facsimile.

35. The computer program product of claim 24, further comprising:

fifth computer readable program code means for causing the computer to accept and store the designation of the assistant and establish the assistant management authentication data at a single integrated server.