METHOD AND SYSTEM FOR AUCTIONING FUNDS USING A FULL-TIME PUBLIC NETWORK
First Claim
1. A method for auctioning funds to a bank using a full-time public network, including the steps of:
- establishing a connection to a full-time public network;
accepting bank criteria received via the full-time public network;
performing risk analytics using a plurality of computer-aided risk analytics algorithms to facilitate identification of acceptable bidders in a funds auctioning marketplace;
accepting at least one bid from at least one acceptable bidder via the full-time public network;
evaluating each accepted bid based on the bank criteria to determine whether the bid satisfies the criteria;
selecting as a winning bid at least one bid determined to satisfy the bank criteria; and
requiring the bank to accept the winning bid.
1 Assignment
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Accused Products
Abstract
A method for auctioning funds to a bank or by a depositor using a full-time public network, including several steps. A connection is established (160) to a full-time public network. Bank or depositor criteria received via the full-time public network is accepted (162). Risk analytics is performed (164) to facilitate identification of acceptable bidders. At least one bid is accepted (166) from at least one acceptable bidder via the full-time public network. Each accepted bid is evaluated (168) based on the bank or depositor criteria to determine whether the bid satisfies the criteria. At least one bid is selected (170) as a winning bid determined to satisfy the bank or depositor criteria. A system for matching depositors and banks includes at least one depositor computing system (212), at least one bank computing system (216), and auctioneer computing system (218) having several operating modules.
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Citations
24 Claims
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1. A method for auctioning funds to a bank using a full-time public network, including the steps of:
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establishing a connection to a full-time public network; accepting bank criteria received via the full-time public network; performing risk analytics using a plurality of computer-aided risk analytics algorithms to facilitate identification of acceptable bidders in a funds auctioning marketplace; accepting at least one bid from at least one acceptable bidder via the full-time public network; evaluating each accepted bid based on the bank criteria to determine whether the bid satisfies the criteria; selecting as a winning bid at least one bid determined to satisfy the bank criteria; and requiring the bank to accept the winning bid. - View Dependent Claims (2, 3, 4, 5, 6, 24)
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7-23. -23. (canceled)
Specification