System for the operation and management of one or more financial accounts through the use of a digital communication and computation system for exchange, investment and borrowing
First Claim
1. A computer-based system for operating a plurality of client financial accounts comprising:
- processing means;
memory means connected to said processing means for storing information pertaining to the client financial accounts;
means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account;
means for allocating said received funds among said accounts; and
a plurality of client computers, each client computer comprising;
means for communicating with said computer system;
means for limiting use of said client computer to one or more clients by one or more identification means; and
means for interacting with said client account maintained in said memory means.
2 Assignments
0 Petitions
Accused Products
Abstract
A practical communication and computer based system and method for effecting exchange, investment and borrowing involves the use of digital communication and computation terminals distributed to users and service providers. Through the system described and its combined computer and communication terminals, client/customers may purchase goods and services, save, invest, track bonuses and rebates and effect enhanced personal financial analysis, planning, management and record keeping with less effort and increased convenience. Through a prioritization function, the client specifies her financial objectives, her risk preference, and budgetary constraints. The prioritization function automatically suggests to the individual a portfolio of asset and liability accounts that may be credited and/or debited to provide the required funds for consumption and to form investments and borrowing to best realize her financial objectives over a defined time horizon. If desired, the system automatically manages a client'"'"'s budgetary and financial affairs through a system of expert sweeps based on a client'"'"'s preferences. The client'"'"'s accounts are monitored via a borrowing power baseline, and considered imbalanced if the client'"'"'s borrowing power is less than the minimum borrowing power. If the account is imbalanced, the client may reallocate the assets and liabilities within the client account and/or modify a set of constraints on the client account. If the client account is still not balanced after modification of the account, the system will deny authorization for certain requested transactions, and may initiate the liquidation of certain asset accounts and reduce the balances of one or more liability accounts.
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Citations
122 Claims
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1. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; means for allocating said received funds among said accounts; and a plurality of client computers, each client computer comprising; means for communicating with said computer system; means for limiting use of said client computer to one or more clients by one or more identification means; and means for interacting with said client account maintained in said memory means. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 45, 46, 47, 48, 49, 50, 51, 52, 53, 54, 55, 56, 57, 58, 59, 60, 61, 62, 63, 64, 65, 66, 67, 68, 69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86, 87, 88, 89, 90, 91, 92, 93, 94, 95, 96, 97, 98, 99, 100, 101)
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102. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one loan secured by a mortgage on a home and one or more assets; means for allocating said received funds among said accounts; and a plurality of client computers, each client computer comprising; means for communicating with said computer system; means for limiting use of said client computer to one or more clients by one or more identification means; and means for interacting with said client account maintained in said memory means.
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103. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; means for allocating said received funds among said accounts; and a plurality of client computers, each client computer comprising; means for communicating with said computer system; means for limiting use of said client computer to one or more clients by one or more identification means; and means for performing financial transactions which produce changes in a client'"'"'s assets or liabilities.
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104. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; means for allocating said received funds among said accounts; and a plurality of client computers, each client computer comprising; means for communicating with said computer system; means for limiting use of said client computer to one or more clients by one or more identification means; means for performing financial transactions which produce changes in a client'"'"'s assets or liabilities; and means for reporting such changes in a client'"'"'s assets and liabilities.
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105. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one loan secured by a mortgage on a home and one or more assets; means for allocating said received funds among said accounts; means for calculating a borrowing power for each client account, said borrowing power being equal to the sum of the product of the value of each asset and an asset to loan ratio, added to the product of the value of the home and a home loan to value ratio less any liabilities including any mortgage balance that may be present in the client account; means for comparing said borrowing power calculated for each client account to a minimum established for that account; means for reporting the relationship of the borrowing power to said minimum; means for updating said borrowing power when changes occur in said asset and liability accounts; and a plurality of client computers, each client computer comprising; means for communicating with said computer system; means for limiting use of said client computer to one or more clients by one or more identification means; and means for performing financial transactions which produce changes in a client'"'"'s assets or liabilities.
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106. A computer-based system for operating a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; and an optimization program utilized to determine an improved allocation of funds received with respect to expected client utility. - View Dependent Claims (107, 108, 109, 110)
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111. A method for operating a plurality of client financial accounts comprising the steps of:
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maintaining in a database for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; allocating said received funds among said accounts; and utilizing a plurality of client computers in cooperation with said accounts comprising the steps of; communicating with said accounts; limiting use of said client computer to one or more clients by one or more identification means; and interacting with said client account maintained in said memory means.
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112. A method for operating a plurality of client financial accounts comprising the steps of:
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maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one loan secured by a mortgage on a home and one or more assets; allocating said received funds among said accounts; and utilizing a plurality of client computers in cooperation with said accounts comprising the steps of; communicating with said accounts; limiting use of said client computer to one or more clients by one or more identification means; and interacting with said client account maintained on said memory means.
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113. A method for operating a plurality of client financial accounts comprising the steps of:
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maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated by the computer system upon receipt of said funds, and at least one liability account; allocating said received funds among said accounts; and utilizing a plurality of client computers in cooperation with said accounts comprising the steps of; communicating with said accounts; limiting use of said client computer to one or more clients by one or more identification means; and performing financial transactions which produce changes in a client'"'"'s assets or liabilities.
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114. A method for operating a plurality of client financial accounts comprising the steps of:
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maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated upon receipt of said funds, and at least one liability account; allocating said received funds among said accounts; and utilizing a plurality of client computers in cooperation with said method comprising the steps of; communicating with said accounts; limiting use of said client computer to one or more clients by one or more identification means; performing financial transactions which produce changes in a client'"'"'s assets or liabilities; and reporting such changes in a client'"'"'s assets and liabilities.
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115. A method for operating a plurality of client financial accounts comprising the steps of:
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maintaining in said memory means a database comprising for each client account at least one asset account which receives funds for investment purposes, said asset account having an account balance which is updated upon receipt of said funds, and at least one loan secured by a mortgage on a home and one or more assets; allocating said received funds among said accounts; calculating a borrowing power for each client account, said borrowing power being equal to the sum of the product of a value of each asset and an asset to loan ratio, added to the product of the value of the home and a home loan to value ratio less any liabilities including any mortgage balance that may be present in the client account; comparing said borrowing power calculated for each client account to a minimum established for that account; reporting the relationship of the borrowing power to said minimum; updating said borrowing power when changes occur in said asset and liability accounts; and utilizing a plurality of client computers in cooperation with said accounts comprising the steps of; communicating with said accounts; limiting use of said client computer to one or more clients by one or more identification means; and performing financial transactions which produce changes in a client'"'"'s assets or liabilities.
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116. An integrated computer-based system for storing, processing and reporting information concerning a plurality of client financial accounts comprising:
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processing means; memory means connected to said processing means for storing information pertaining to the client financial accounts; means for maintaining in said memory means data concerning said client financial accounts in a relational data base wherein the data base comprises tables, each table having a domain of at least one attribute in common with at least one other table, said tables comprising; tables for storing general and personal information about the client; tables for storing asset account information; tables for storing liability account information; tables for storing account balances; tables for storing operating limitations of the account; and tables for storing system status reports. - View Dependent Claims (117, 118, 119, 120, 121, 122)
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Specification