System and method for allocation to obtain zero activity in a selected aggregated account
DCFirst Claim
1. A method for managing a plurality of Federal Deposit Insurance Corporation (FDIC)-insured, interest-bearing aggregated accounts held in a group of deposit institutions, comprising:
- (1) accessing, by one or more computers, one or more databases comprising;
(a) aggregated account information for a plurality of the FDIC-insured and interest-bearing aggregated accounts held in the group of deposit institutions, wherein funds from client transaction accounts of a plurality of clients are aggregated with funds of other client transaction accounts in the aggregated accounts held in the deposit institutions, wherein each of the respective deposit institutions holds one or more of the aggregated accounts; and
(b) client transaction account information for each of the respective client transaction accounts comprising;
(i) a respective client asset balance in the respective client transaction account;
(ii) transaction data for the respective client transaction account; and
(iii) a respective balance of funds from the respective client transaction account held in each of one or more of the FDIC-insured and interest-bearing aggregated accounts holding funds of the respective client transaction account; and
(2) allocating, by one or more computers, deposits to and withdrawals from the aggregated accounts, the step of allocating comprising;
(a) accessing, by the one or more computers, transaction data comprising deposit amounts to and/or withdrawal amounts from one or more of the client transaction accounts for a sub-period of time such as one or more hours, days or weeks;
(b) calculating, by the one or more computers, for each of a respective one or more of the aggregated accounts held in each of a plurality of the deposit institutions in the group, a first net transaction amount with respect to the respective aggregated account based on transaction data for the sub-period of time for client transaction accounts with funds held therein;
(c) determining, by the one or more computers, for at least the respective one of the aggregated accounts held in each of a plurality of the deposit institutions, whether the respective one of the aggregated accounts has a no-withdrawal designation indicating such account is not to receive withdrawals for one or more sub-periods of time based at least in part on a number of withdrawals made or to be made during the period of time from the respective one aggregated account held in the respective deposit institution;
(d) selecting, by the one or more computers, at least one aggregated account in one of the deposit institutions from among the group of the deposit institutions to which to deposit or to withdraw funds, while avoiding withdrawing funds for the respective sub-period of time from each of one or more of the other aggregated accounts based at least in part on whether a no-withdrawal designation is determined for each of the one or more other respective aggregated accounts;
(e) allocating, by the one or more computers, the respective client asset balance of funds of a plurality of the respective client transaction accounts among a plurality of the aggregated accounts in the group so that one or more of the aggregated accounts that has a no-withdrawal designation and at least a first net transaction amount that is negative has a net balance of funds that is not decreased for the sub-period in time;
(3) generating instructions to withdraw funds from or depositing or having deposited funds to the at least one of the aggregated accounts based on the allocating step; and
(4) updating, by the one or more computers, the one or more databases with information on which of the deposit institutions are holding funds of a plurality of the client transaction accounts.
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Accused Products
Abstract
A method, program product and system for managing a group of aggregated accounts, each aggregated account held in a different one of a plurality of deposit institutions, each of the aggregated accounts associated with at least one financial entity and holding funds of a plurality of clients of the at least one financial entity, each of the clients having a client asset balance in a respective client account associated with the at least one financial entity, the method comprising: (1) allocating fund deposits to and fund withdrawals from the aggregated accounts, the step of allocating comprising: (a) calculating an aggregated transaction amount based on a total net transaction from among the plurality of the client accounts during a period of time; (b) selecting at least one aggregated account from among the group of aggregated accounts in the different deposit institutions to which to deposit or to withdraw funds based, at least in part, so as to avoid withdrawing funds from or depositing funds to at least a different one of the aggregated accounts in the group; and (2) withdrawing funds from or depositing funds to the at least one of the aggregated accounts based on the allocation.
216 Citations
51 Claims
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1. A method for managing a plurality of Federal Deposit Insurance Corporation (FDIC)-insured, interest-bearing aggregated accounts held in a group of deposit institutions, comprising:
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(1) accessing, by one or more computers, one or more databases comprising; (a) aggregated account information for a plurality of the FDIC-insured and interest-bearing aggregated accounts held in the group of deposit institutions, wherein funds from client transaction accounts of a plurality of clients are aggregated with funds of other client transaction accounts in the aggregated accounts held in the deposit institutions, wherein each of the respective deposit institutions holds one or more of the aggregated accounts; and (b) client transaction account information for each of the respective client transaction accounts comprising; (i) a respective client asset balance in the respective client transaction account; (ii) transaction data for the respective client transaction account; and (iii) a respective balance of funds from the respective client transaction account held in each of one or more of the FDIC-insured and interest-bearing aggregated accounts holding funds of the respective client transaction account; and (2) allocating, by one or more computers, deposits to and withdrawals from the aggregated accounts, the step of allocating comprising; (a) accessing, by the one or more computers, transaction data comprising deposit amounts to and/or withdrawal amounts from one or more of the client transaction accounts for a sub-period of time such as one or more hours, days or weeks; (b) calculating, by the one or more computers, for each of a respective one or more of the aggregated accounts held in each of a plurality of the deposit institutions in the group, a first net transaction amount with respect to the respective aggregated account based on transaction data for the sub-period of time for client transaction accounts with funds held therein; (c) determining, by the one or more computers, for at least the respective one of the aggregated accounts held in each of a plurality of the deposit institutions, whether the respective one of the aggregated accounts has a no-withdrawal designation indicating such account is not to receive withdrawals for one or more sub-periods of time based at least in part on a number of withdrawals made or to be made during the period of time from the respective one aggregated account held in the respective deposit institution; (d) selecting, by the one or more computers, at least one aggregated account in one of the deposit institutions from among the group of the deposit institutions to which to deposit or to withdraw funds, while avoiding withdrawing funds for the respective sub-period of time from each of one or more of the other aggregated accounts based at least in part on whether a no-withdrawal designation is determined for each of the one or more other respective aggregated accounts; (e) allocating, by the one or more computers, the respective client asset balance of funds of a plurality of the respective client transaction accounts among a plurality of the aggregated accounts in the group so that one or more of the aggregated accounts that has a no-withdrawal designation and at least a first net transaction amount that is negative has a net balance of funds that is not decreased for the sub-period in time; (3) generating instructions to withdraw funds from or depositing or having deposited funds to the at least one of the aggregated accounts based on the allocating step; and (4) updating, by the one or more computers, the one or more databases with information on which of the deposit institutions are holding funds of a plurality of the client transaction accounts. - 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)
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43. A program product for managing a plurality of Federal Deposit Insurance Corporation (FDIC)-insured, interest-bearing aggregated accounts held in a group of deposit institutions, comprising:
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one or more computer usable media having computer readable program code embodied therein or among them, to be executed by a computer, the computer readable program code comprising (1) program code for accessing, by one or more computers, one or more databases comprising; (a) aggregated account information for a plurality of the FDIC-insured and interest-bearing aggregated accounts held in the group of deposit institutions, wherein funds from client transaction accounts of a plurality of clients are aggregated with funds of other client transaction accounts in the aggregated accounts held in the deposit institutions, wherein each of the respective deposit institutions holds one or more of the aggregated accounts; and (b) client transaction account information for each of the respective client transaction accounts comprising; (i) a respective client asset balance in the respective client transaction account; (ii) transaction data for the respective client transaction account; and (iii) a respective balance of funds from the respective client transaction account held in each of one or more of the FDIC-insured and interest-bearing aggregated accounts holding funds of the respective client transaction account; and (2) program code for allocating, by one or more computers, deposits to and withdrawals from the aggregated accounts, the step of allocating comprising; (a) accessing, by the one or more computers, transaction data comprising deposit amounts to and/or withdrawal amounts from one or more of the client transaction accounts for a sub-period of time such as one or more hours, days or weeks; (b) calculating, by the one or more computers, for each of a respective one or more of the aggregated accounts held in each of a plurality of the deposit institutions in the group, a first net transaction amount with respect to the respective aggregated account based on transaction data for the sub-period of time for client transaction accounts with funds held therein; (c) determining, by the one or more computers, for at least the respective one of the aggregated accounts held in each of a plurality of the deposit institutions, whether the respective one of the aggregated accounts has a no-withdrawal designation indicating such account is not to receive withdrawals for one or more sub-periods of time based at least in part on a number of withdrawals made or to be made during the period of time from the respective one aggregated account held in the respective deposit institution; (d) selecting, by the one or more computers, at least one aggregated account in one of the deposit institutions from among the group of the deposit institutions to which to deposit or to withdraw funds, while avoiding withdrawing funds for the respective sub-period of time from each of one or more of the other aggregated accounts based at least in part on whether a no-withdrawal designation is determined for each of the one or more other respective aggregated accounts; (e) allocating, by the one or more computers, the respective client asset balance of funds of a plurality of the respective client transaction accounts among a plurality of the aggregated accounts in the group so that one or more of the aggregated accounts that has a no-withdrawal designation and at least a first net transaction amount that is negative has a net balance of funds that is not decreased for the sub-period in time; (3) program code for generating instructions to withdraw funds from or depositing or having deposited funds to the at least one of the aggregated accounts based on the allocating step; and (4) program code for updating, by the one or more computers, the one or more databases with information on which of the deposit institutions are holding funds of a plurality of the client transaction accounts. - View Dependent Claims (44, 45, 46)
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47. A system for managing a plurality of Federal Deposit Insurance Corporation (FDIC)-insured, interest-bearing aggregated accounts held in a group of deposit institutions, comprising:
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one or more computers operably connected to the database for implementing the following components; (1) a component for accessing, by the one or more computers, one or more databases comprising; (a) aggregated account information for a plurality of the FDIC-insured and interest-bearing aggregated accounts held in the group of deposit institutions, wherein funds from client transaction accounts of a plurality of clients are aggregated with funds of other client transaction accounts in the aggregated accounts held in the deposit institutions, wherein each of the respective deposit institutions holds one or more of the aggregated accounts; and (b) client transaction account information for each of the respective client transaction accounts comprising; (i) a respective client asset balance in the respective client transaction account; (ii) transaction data for the respective client transaction account; and (iii) a respective balance of funds from the respective client transaction account held in each of one or more of the FDIC-insured and interest-bearing aggregated accounts holding funds of the respective client transaction account; and (2) a component for allocating, by the one or more computers, deposits to and withdrawals from the aggregated accounts, the allocating component configured for; (a) accessing, by the one or more computers, transaction data comprising deposit amounts to and/or withdrawal amounts from one or more of the client transaction accounts for a sub-period of time such as one or more hours, days or weeks; (b) calculating, by the one or more computers, for each of a respective one or more of the aggregated accounts held in each of a plurality of the deposit institutions in the group, a first net transaction amount with respect to the respective aggregated account based on transaction data for the sub-period of time for client transaction accounts with funds held therein; (c) determining, by the one or more computers, for at least the respective one of the aggregated accounts held in each of a plurality of the deposit institutions, whether the respective one of the aggregated accounts has a no-withdrawal designation indicating such account is not to receive withdrawals for one or more sub-periods of time based at least in part on a number of withdrawals made or to be made during the period of time from the respective one aggregated account held in the respective deposit institution; (d) selecting, by the one or more computers, at least one aggregated account in one of the deposit institutions from among the group of the deposit institutions to which to deposit or to withdraw funds, while avoiding withdrawing funds for the respective sub-period of time from each of one or more of the other aggregated accounts based at least in part on whether a no-withdrawal designation is determined for each of the one or more other respective aggregated accounts; (e) allocating, by the one or more computers, the respective client asset balance of funds of a plurality of the respective client transaction accounts among a plurality of the aggregated accounts in the group so that one or more of the aggregated accounts that has a no-withdrawal designation and at least a first net transaction amount that is negative has a net balance of funds that is not decreased for the sub-period in time; (3) a component for generating instructions to withdraw funds from or depositing or having deposited funds to the at least one of the aggregated accounts based on the allocating operation; and (4) a component for updating, by the one or more computers, the one or more databases with information on which of the deposit institutions are holding funds of a plurality of the client transaction accounts. - View Dependent Claims (48, 49, 50, 51)
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Specification