DATA NETWORK ASSOCIATION FOR FINANCIAL SERVICES

• US 20080281741A1
• Filed: 05/08/2008
• Published: 11/13/2008
• Est. Priority Date: 05/08/2007
• Status: Abandoned Application

• Current Assignee: Ticoon Technology, Inc.
• Original Assignee: Ticoon Technology, Inc.
• Inventors: Hyde, Richard L.
• Application Number:
  US12/117,103
• Publication Number:
  US 20080281741A1
• Time in Patent Office: Days
• US Class Current: 705/35
• 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

Abstract

A system is provided for consolidating financial information to allow multiple advisors to advise a customer with respect to financial products and/or services. Account data from a plurality of financial institutions is brought together in a computer implemented front end program having network access to each of the accounts. Each advisor can access this single environment. The customer has control over what type of account data each advisor can view, edit or transact with.

Claims

1. A system for consolidating financial information to allow multiple advisors to advise a customer with respect to financial products and/or services, the customer having accounts at a plurality of financial institutions, the system comprising:

a computer implemented front end program having network access to each of the accounts at the plurality of financial institutions, the program providing a single environment for advisors;

the program having permissions associated with data in each of the accounts;

the program allowing the customer to set permissions for each of the customer'"'"'s advisors with respect to each type of data in the accounts, such that each advisor is only allowed to view and/or edit and/or transact with permitted data.

2. The system of claim 1, wherein permission can be temporary or time-limited.

3. The system of claim 1, wherein each permission can prescribe limited functionality with respect to the particular type of data.

4. The system of claim 1, wherein the program associates the customer with a profile, the profile having demographic information about the customer and/or the customer'"'"'s household.

5. The system of claim 4, wherein the program allows advisors to group data on a plurality of customers by elements in the customers'"'"' profiles.

6. The system of claim 4, wherein the program allows advisors to market a financial product or service to a plurality of customers by grouping the customers by elements in their respective profiles.

7. The system of claim 4, wherein the profile includes a risk tolerance preference and wherein the program alerts advisors when a proposed transaction exceeds the customer'"'"'s risk tolerance preference.

8. The system of claim 1, wherein the program allows the customer to link associated accounts to the customer'"'"'s accounts.

9. The system of claim 1, wherein the program allows household accounts to be grouped together.

10. The system of claim 1, wherein the program allows permissions to be changed.

11. The system of claim 1, wherein the program allows profiles to be changed.

12. The system of claim 1, wherein the program allows advisors to be changed.

13. The system of claim 1, wherein the program allows advisors to set or change permissions with respect to other advisors.

14. The system of claim 1, wherein the program has global permissions for advisors with respect to certain steps or transactions.

15. The system of claim 1, wherein the program prevents advisors from transacting in off-book matters.

16. The system of claim 1, wherein the program allows reports to be generated with respect to a customer'"'"'s current or historical account information.

17. The system of claim 1, wherein the program allows an advisor to generate reports with respect to account information from a group of customers.

18. The system of claim 1, wherein the program provides access to a history and archive of financial transactions, communications, and information associated with an account or an advisor.

19. A system for a first advisor and a second advisor to share access to a customer'"'"'s account information to advise the customer with respect to financial products and/or services, the customer having accounts at a plurality of financial institutions, the system comprising:

a computer implemented front end program having network access to each of the accounts at the plurality of financial institutions, the program providing a single environment shared by the first and second advisor;

the program having permissions associated with data in each of the accounts;

the program allowing the customer to set permissions separately for the first and second advisor with respect to each type of data in the accounts, such that the first advisor and the second advisor have different views of the same account information.

20. A system for allowing financial institutions to compete for customers by allowing their advisors to access pooled information from a plurality of customer accounts at the financial institutions, the system comprising:

a computer implemented front end program having network access to each of the accounts at the financial institutions, the program providing a single environment for advisors;

the program having permissions associated with data in each of the accounts;

the program allowing a customer associated with an account to set permissions for each of the advisors with respect to each type of data in the account, such that each advisor is only allowed to view and/or edit and/or transact with permitted data.

21. A system for consolidating financial information to allow a primary user to advise on or transact with financial products and/or services on behalf of a second user, the financial information being stored at a plurality of financial institutions, the system comprising:

a computer implemented front end program having network access to the financial information at the plurality of financial institutions, the program providing a single environment to consult and transact with the financial information;

the program having permissions associated with the financial information;

the program allowing the second user to set permissions for the primary user, such that the primary user is only allowed to view and/or edit and/or transact with permitted information.

22. The system of claim 21, wherein the program further allows the primary user and the second user to switch or change roles.

23. A system for consolidating customer account information to allow multiple advisors or representatives to advise a customer with respect to new products and/or services related to the customer account information, the customer having accounts at a plurality of institutions, the system comprising:

a computer implemented front end program having network access to the customer account information at the plurality of institutions, the program providing a single environment for the advisors or representatives;

the program having permissions associated with data in each of the accounts;

the program allowing the customer to set permissions for each of the advisors or representatives with respect to each type of data in the accounts, such that each advisor or representative is only allowed to view and/or edit and/or transact with permitted data.