Apparatus and method of a distributed capital system

• US 8,224,744 B2
• Filed: 07/20/2009
• Issued: 07/17/2012
• Est. Priority Date: 02/14/2002
• Status: Expired due to Term

• Current Assignee: Distributed Capital Investments LLC
• Original Assignee: Zachary Pessin
• Inventors: Pessin, Zachary
• Primary Examiner(s): Cheung, Mary
• Application Number:
  US12/458,674
• Publication Number:
  US 20100145876A1
• Time in Patent Office: 1,093 Days
• Field of Search: 705/35, 705 38- 44, 705/53, 705/64, 705/68, 705 74- 79, 725/1, 725 4- 5, 902 1- 10
• US Class Current: 705/38
• CPC Class Codes: G06Q 20/00 Payment architectures, schemes or protocols apparatus for performing or posting payment transactions G07F7/08, G07F19/00; electronic cash registers G07G1/12
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/102 Bill distribution or payments
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/4016 involving fraud or risk level assessment in transaction processing
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/08 Auctions
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis

Abstract

Methods, systems, and articles of manufacture consistent with the present invention provide for conducting financial transactions over a network. A user requests to execute at least one financial transaction with at least one of a number of parties, each of the parties corresponding to a data processing system on the network. Real-time financial information relating to the financial transaction is obtained, and the user can test and confirm that the financial transaction with the at least one party can take place prior to execution of the financial transaction.

Claims

1. A method of conducting financial transactions over a computerized network comprising:

providing capital from at least one party for loan to at least another party to a financial system over the internet or a secure financial server;

debiting an account of said at least one party for at least a portion of said capital for said loan;

matching said at least portion of capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server;

crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower;

wherein said at least one borrower pays a repayment schedule for said borrowed amount of capital to said at least one party.

2. The method according to claim 1, wherein a rating is attached to each said borrower based on their loan repayment history.

3. A financial services system, comprising:

means for providing capital from at least one party for loan to at least another party to a financial system over the internet or a secure financial server;

means for debiting an account of said at least one party for at least a portion of said capital for said loan;

means for matching said at least portion of capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server;

means for crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower;

wherein said at least one borrower pays a repayment schedule for said borrowed amount of capital to said at least one party.

4. A computer-readable medium whose contents cause a computer system to perform financial transactions over a network, the computer system having a program which performs the steps of:

providing capital from at least one party for loan to at least another party to a financial system over the internet or a secure financial server;

debiting an account of said at least one party for at least a portion of said capital for said loan;

matching said at least portion of capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server;

crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower;

wherein said at least one borrower pays a repayment schedule for said borrowed amount of capital to said at least one party.

5. A computer system adapted to perform financial services over a network, comprising:

at least one memory including a program having instructions adapted to enable the computer system to perform the steps of;

providing capital from at least one party for loan to at least another party to a financial system over the internet or a secure financial server;

debiting an account of said at least one party for at least a portion of said capital for said loan;

matching said at least portion of capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server;

crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower;

wherein said at least one borrower pays a repayment schedule for said borrowed amount of capital to said at least one party; and

at least one processor which runs said program.

6. A method of conducting financial transactions over a computerized network comprising:

providing capital from an account of at least one party, initiated by way of the computerized network, for loan to at least another party to a financial system over the internet or a secure financial server at terms acceptable to said party providing said capital;

debiting an account of said at least one party, initiated by instructions from said at least one party sent over the internet or by said financial server, for at least a portion of said capital for said loan;

matching said at least portion of said capital for said loan from said at least one party directly to at least one borrower seeking capital, said borrower indicating, over the internet or secure financial server, acceptable terms at which said borrower wishes to borrow capital from said at least one party; and

crediting an account of said at least one borrower, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower.

7. A method of conducting financial transactions over a computerized network comprising:

providing capital from at least one party for loan to at least another party to a financial system over the internet or a secure financial server;

debiting an account of said at least one party for at least a portion of said capital for said loan;

matching said at least portion of said capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server; and

crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower.

8. A method of conducting financial transactions over a computerized network comprising:

offering capital from at least one party for loan to at least another party to a financial system over the internet of a secure financial server;

debiting an account of said at least one party for at least a portion of said capital for said loan;

matching at least said portion of said capital for said loan from said at least one party directly to at least one borrower seeking capital, over said internet or said secure financial server; and

crediting an account of said at least one borrower for said borrowed amount of capital, such that said at least one party provides said borrowed amount of capital, at least in part, to said at least one borrower;

wherein said at least one borrower is provided with a repayment schedule for said borrowed amount of capital to said at least one party.