Systems and methods for performing integrated financial transaction

• US 6,606,606 B2
• Filed: 11/09/1999
• Issued: 08/12/2003
• Est. Priority Date: 11/09/1998
• Status: Expired due to Fees

• Current Assignee: Onecore Financial Network Incorporated
• Original Assignee: OneCore Financial Network, Inc.
• Inventors: Starr, Barry
• Primary Examiner(s): Kemper, M.
• Application Number:
  US09/437,000
• Publication Number:
  US 20020062270A1
• Time in Patent Office: 1,372 Days
• Field of Search: 705/35, 705/36, 705/42, 705/39, 705/40, 709/217-219
• US Class Current: 705/36.00R
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/108 Remote banking, e.g. home banking
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• 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
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

The invention provides a tool kit for a small business owner to manage a plurality of different financial accounts and services and to perform a number of different financial transactions, wherein each of the transactions may involve multiple sub-transactions which occur among different financial service providers. For example, the system provides an integrated package that integrates financial service providers, such as a payroll service provider, a retirement plan service provider, a healthcare service provider or another type of service provider. The system provides one interface to a subscriber and the subscriber can select from the interface a financial transaction to perform, wherein the selected transaction involves a plurality of subtransactions, occurring between the system, and the involved financial service providers.

Claims

1. A method for allowing an integrated financial transaction, including

providing a subscriber with an identifier representative of a subscriber account and a network connection to a server,

storing at the server account data associated with said identifier and being representative of account information for accounts maintained by said subscriber at a plurality of different financial service providers,

providing said subscriber with a control for initiating from the server an integrated financial transaction for performing a business operation by brokering a transaction between different financial providers to combine a first service provided by a first financial service provider with a second different service provided by a second different financial service provider to create a service different from the first or second service,

generating at the server, in response to the subscriber activating said control, a first set of instructions for said first financial service provider to perform said first service, said first set of instructions including instructions for employing said account data to access said accounts maintained by said subscriber at said first financial service provider,

generating at the server, subsequent to generating said first set of instructions, a second set of instructions for said second different financial service provider to perform said second different service, said second set of instructions including instructions for employing said account data to access said accounts maintained by said subscriber at said second different financial service provider, and

providing from the server said sets of instructions to respective ones of said financial service providers, whereby execution of said second set of instructions is in response to execution of the first set of instructions to coordinate respective operation of said respective ones of said financial service providers to achieve an integrated financial transaction for said subscriber.

2. The method of claim 1, wherein said identifier includes a company identifier.

3. The method of claim 2, wherein said identifier includes a personal identifier.

4. The method of claim 2, wherein said identifier includes a password.

5. The method of claim 1, further including

providing a common user interface;

and

wherein said step of providing said identifier employs said common user interface.

6. The method of claim 1, further including

providing a user interface capable of allowing said subscriber to access a plurality of said financial service employed by said subscriber and provided by different financial service providers.

7. The method of claim 1, further including

providing a download function for allowing said subscriber to communicate said account data in a selected file format to a client program capable of processing said data in said selected format.

8. The method of claim 1, including, allowing said subscriber to create subaccounts.

9. The method of claim 8, including

allowing said subscriber to assign privileges to each of said subaccounts to control access to available financial services.

10. The method of claim 8, including allowing said subscriber to delete subaccounts, thereby preventing a sub-user from accessing available financial services.

11. The method of claim 1, further including

collecting user information from said subscriber, and employing said user information for registering said subscriber with additional financial service providers.

12. The method of claim 1, including

allowing said financial service provider to unregister said subscriber from financial service providers.

13. The method of claim 1, including,

allowing said subscriber to identify criteria for switching between financial service providers, and

switching the subscriber accounts from one financial service provider to another financial service provider when the criteria is met.

14. The method of claim 1, wherein said financial service providers are selected from the group consisting of a payroll provider, lending provider, bill paying provider, heath insurance provider retirement plan provider, 401K plan provider, lease provider, bank account provider business merchant card processing provider, and credit provider.

15. The method of claim 1, further including

providing a flash report including a first data item and a second data item wherein said first data item is employed by a first one of said financial service providers and said second data item is employed by said second financial service provider different from said first financial service provider.

16. The method of claim 15, further including

providing said flash report as a function of said access level.

17. The method of claim 1, including

providing one or more privileges for said identifier, each of said one or more privileges having a corresponding access level representative of services available to be accessed.

18. The method of claim 1, wherein said integrated financial transaction comprises a transaction selected from the group consisting of making payroll for a business, securing health insurance for a business, forming a 401K plan for a business, taking a loan for a business, and forming a lease for office space for a business.