Internet-based method of and system for transfering and exercising monetary rights within a financial marketplace
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Abstract
An Internet-based method of and system which inherently recognizes the separate and transferable rights associated with money (cash) ownership, thereby enabling the maximization of economic value that such personal property can support within society. According to the Internet-based method and system, the rights that customers of banks, brokerage firms, insurers and other financial institutions possess as owners, holders (fiduciary), and borrowers of money are automatically unbundled (i.e. individually separated) and ready to be transferred to other institutions offering more attractive financial terms in an effort to optimize the utility and economic value of their money. Diverse financial products can utilize the various monetary right(s) transfer processes described herein. Examples of such products include: checking accounts, debit and credit cards, stored value products, ATM products, and other financial accounts and products.
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Citations
118 Claims
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1-96. -96. (canceled)
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97. An Internet-based monetary rights transfer (MRT) network operating in a financial marketplace, comprising:
an information infrastructure including web, application and database servers configured according to a multi-tier network architecture supporting a first suite of services for enabling an owner of money held in a first account with a home financial institution to transfer at least one monetary right possessed by said owner of money, from said home financial institution to either an external financial institution(s) or internally to a second account within said home institution, so as to allow said owner to receive better rate(s)/yield(s) on said money than that offered by said first account, while all other monetary rights associated within the bundle of rights {R(α
. . . ι
)} possessed by said owner of money remain at said home financial institution for full use by said owner, thereby allowing the owner to maximize the utility of said money in the financial marketplace.- View Dependent Claims (98, 99, 100, 101, 102, 103, 104, 105, 106, 107, 108, 109, 110, 111, 112, 113)
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114. An Internet-based method of transferring monetary rights transfer (MRT) in a global marketplace, comprising the steps of:
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(a) providing an information infrastructure including web, application and database servers configured according to a multi-tier network architecture, so as to form a MRT Network; and
(b) supporting on said information infrastructure, a first suite of services for enabling an owner of money held in a first account with a home financial institution to transfer at least one monetary right possessed by said owner of money, from said home financial institution to either an external financial institution(s) or internally to a second account within said home institution, so as to allow said owner to receive better rate(s)/yield(s) on said money than that offered by said first account, while all other monetary rights associated within the bundle of rights {R(α
. . . ι
)} possessed by said owner of money remain at said home financial institution for full use by said owner, thereby allowing the owner to maximize the utility of said money in the global marketplace. - View Dependent Claims (115, 116, 117, 118)
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Specification