Integrated full service consumer banking system and system and method for opening an account

• US 5,866,889 A
• Filed: 06/07/1995
• Issued: 02/02/1999
• Est. Priority Date: 06/07/1995
• Status: Expired due to Term

• Current Assignee: Citibank NA (Citigroup Incorporated)
• Original Assignee: Citibank NA (Citigroup Incorporated)
• Inventors: Weiss, Lawrence, Dowd, Marylou
• Primary Examiner(s): Kuntz, Curtis A.
• Assistant Examiner(s): Tieu, Binh K.
• Application Number:
  US08/473,975
• Time in Patent Office: 1,336 Days
• Field of Search: 235/379, 235/380, 235/381, 235/375, 235/382, 235/382.5, 235/492, 235/493, 902/4, 902/5, 902/14, 902/20, 902/22, 902/24-27, 902/32, 380/21, 380/23-24
• US Class Current: 235/379
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 20/18 involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
• 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

An integrated financial system that includes a single customer account that permits a customer to perform various financial transactions. The account includes at least banking components and brokerage components. A consistent user interface means is provided to allow a customer to access the account from a different sources including at least an automatic teller machine, a phone and a personal teller transaction. The account is flexible enough to include a variety of other components such as a credit card component, a line of credit component, a secured credit component and a money market component. A system and method for opening a single integrated account for a customer in a single session is also described.

Claims

1. A method of opening a single integrated account for a customer in a single session comprising the steps of:

building a database containing a customer profile that includes demographic information and customer financial information;

performing a needs analysis based on information collected;

receiving a customer selection of at least one component for the single integrated account;

recommending an account based on the needs analysis and presenting information concerning at least one selected component of the single integrated account to the customer;

displaying an image of a bank statement;

updating the database to reflect the customer'"'"'s selection of at least one single integrated account component;

displaying a second image of a representation of a bank statement which image is revised to reflect the customer'"'"'s selection; and

printing at least one enrollment form.

18. The method according to claim 1, wherein said demographic information and customer financial information includes credit information and financial goals.

2. An integrated financial system comprising:

a single integrated customer account that permits a customer to perform various financial transactions including at least banking transactions and brokerage transactions;

a user interface for allowing a customer to access the single integrated account from a plurality of different sources including at least one of an automatic teller machine, a phone and a personal teller transaction;

means for collecting information from the customer;

means for receiving a customer selection of at least one component of the single integrated account;

means for performing a needs analysis based on information collected;

means for recommending an account based on the needs analysis; and

means for presenting information concerning at least one component of the single integrated account to the customer.

3. The integrated financial system of claim 2, wherein the single integrated account includes a credit card component.

4. The integrated financial system of claim 2, wherein the single integrated account includes a line of credit component.

5. The integrated financial system of claim 2, wherein the single integrated account includes a secured credit component.

6. The integrated financial system of claim 2, wherein the single integrated account includes a money market component.

22. The system of claim 2 further comprising:

means for updating the database to reflect the customer'"'"'s selection of at least one single integrated account component; and

means for displaying an image of a representation of a bank statement, wherein the reflects the customer'"'"'s selection of at least one account component.

7. In an integrated financial system of the type comprising a single integrated account that includes at least a checking component, a savings component and a brokerage component, a system for opening the single integrated account in one session comprising:

means for assembling a personal profile that includes means for collecting salient data,

means for building the single integrated customer account that includes means for building at least a checking component, a savings component and a brokerage component;

means for receiving a customer selection of at least one component of the single integrated account;

means for performing a needs analysis based on information collected;

means for recommending an account based on the needs analysis;

means for presenting information concerning the selected component of the single integated account to the customer; and

means for allowing data collected to flow to all other points where the data is required so that data need not be entered more than once.

8. The system of claim 7, further comprising means for generating multiple prompts for certain pieces of data such that the user may exercise personal judgment concerning the appropriate time to collect such data.

9. The system of claim 7, further comprising pending file means for storing information that is collected, but not immediately needed.

10. The system of claim 7, wherein each component of the single integrated account includes data fields and the system further comprises means for transferring data between the data fields and means for entering data fields in different components that are related such that data entered in one data field can be copied into other related data fields.

11. The system of claim 7, wherein the means for building the single integrated account comprises means for building a credit card account component.

12. The system of claim 7, wherein the means for building the single integrated account comprises means for building a line of credit account component.

13. The system of claim 7, wherein the means for building the single integrated account comprises means for building a secured credit account component.

14. The system of claim 7, wherein the means for building the single integrated account comprises means for building a money market account component.

15. The system of claim 7, wherein the means for building the single integrated account comprises means for building an insurance account component.

16. The system of claim 7, wherein the means for building the single integrated account comprises means for building a retirement account component.

17. The system of claim 7, further comprising means for displaying a representation of a bank statement connected to the means for building the single integrated account, whereby as the account is built the representation of the bank statement is updated.

23. The system of claim 7 further comprising:

means for updating the database to reflect the customer'"'"'s selection of at least one single integrated account component; and

means for displaying an image of a representation of a bank statement, wherein the reflects the customer'"'"'s selection of at least one account component.

19. A method of providing a financial services account, comprising:

opening a single integrated account that permits a customer to establish a plurality of components for performing financial transactions, the single integrated account having a time of opening;

creating a personal profile including substantially all demographic and financial data about the customer at the time of opening;

accessing the profile so that only unknown data is requested from the customer in the establishment of each of the plurality of components for performing financial transactions;

receiving a customer selection of at least one component of the single integrated account;

performing a needs analysis based on the personal profile;

recommending an account based on the needs analysis; and

presenting information concerning at least one component of the single integrated account to the customer.

20. A method of providing financial services as recited in claim 19, wherein said plurality of components for performing financial transactions comprises at least one of an investment component, a banking component, a bill payment component and a lending component.

21. A method of opening a single integrated account for a customer in a single session comprising:

building a database containing a customer profile that includes demographic information and customer financial information;

performing a needs analysis based on information collected;

receiving a customer selection of at least one component for the single integrated account;

recommending an account based on the needs analysis;

presenting information concerning at least one selected component of the single integrated account to the customer;

updating the database to reflect the customer'"'"'s selection of at least one single integrated account component; and

displaying an image of a representation of a bank statement, wherein the image reflects the customer'"'"'s selection of at least one single integrated account component.