System and method for conducting an electronic financial asset deposit auction over computer network
First Claim
1. A method for soliciting competitive terms of deposit operating on a deposit auction system, said system including a programmed computer connected to a network accessible by a plurality of users within a first selected period of time and anonymity means for concealing the identities of prospective depositors, the method executable at said computer comprising:
- a) receiving a deposit application from a prospective depositor who is a respective one of the users offering money, securities or financial equivalent deposit offer terms;
b) assigning a handle to conceal a real identity of said prospective depositor and displaying said depositor'"'"'s application anonymously;
c) receiving from at least one financial institution, who is a respective one of the users communicating over the network, at least a bid for said deposit application wherein said bid being deposit terms comprising at least one of;
type of deposit auction over computer network guarantees, payment schedule, deposit rate, securities in exchange or terms of exchange; and
d) receiving an electronic instruction from said prospective depositor, notifying and authorizing at least one selected financial institution to access a real identity and personal information of said prospective depositor for a second selected period of time.
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Accused Products
Abstract
A computer system for conducting an electronic financial asset deposit auction over a computer network such as the Internet. The computer system includes a computer connected to the Internet, which performs the following functions: (1) receiving an electronic deposit application form from a prospective depositor; (2) providing such application to a deposit authorizer'"'"'s computer over the computer network for approval; (3) receiving an electronic message from the deposit authorizer'"'"'s computer indicating whether or not such deposit has been approved; (4) entering the deposit application into a database that is accessible to bidder/borrowers via the computer network, if the deposit is approved; and (5) maintaining the deposit application in the database for a predetermined period time during which bidder/borrowers may submit bids and the prospective depositor may accept a bid.
20 Citations
20 Claims
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1. A method for soliciting competitive terms of deposit operating on a deposit auction system, said system including a programmed computer connected to a network accessible by a plurality of users within a first selected period of time and anonymity means for concealing the identities of prospective depositors, the method executable at said computer comprising:
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a) receiving a deposit application from a prospective depositor who is a respective one of the users offering money, securities or financial equivalent deposit offer terms; b) assigning a handle to conceal a real identity of said prospective depositor and displaying said depositor'"'"'s application anonymously; c) receiving from at least one financial institution, who is a respective one of the users communicating over the network, at least a bid for said deposit application wherein said bid being deposit terms comprising at least one of;
type of deposit auction over computer network guarantees, payment schedule, deposit rate, securities in exchange or terms of exchange; andd) receiving an electronic instruction from said prospective depositor, notifying and authorizing at least one selected financial institution to access a real identity and personal information of said prospective depositor for a second selected period of time. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15)
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16. A deposit auction system for soliciting competitive terms of deposit connected to a network, said network comprising at least one client computer and a programmed computer further comprising a database of deposit applications, said network accessible by a plurality of users within a first selected deposit auction over computer network period of time, comprising:
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a) means for receiving a deposit application from a prospective depositor who is a respective one of the users offering money, securities or financial equivalent deposit offer terms; b) anonymity means for assigning a handle to conceal a real identity of the said prospective depositor for displaying said depositor'"'"'s application anonymously; c) means for receiving from at least one financial institution, who is a respective one of the users communicating over the network, at least a bid for said deposit application offer wherein said bid being depositing terms comprising at least one of;
type of guarantees, payment schedule, deposit rate, securities in exchange or terms of exchange; andd) means for receiving an electronic instruction from said prospective depositor, notifying and authorizing at least one selected financial institution to access a real identity and personal information of said prospective depositor for a second selected period of time. - View Dependent Claims (17, 18, 19, 20)
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Specification