Method and system for allocating funds over a plurality of time deposit instruments in depository institutions
DCFirst Claim
1. A method, comprising:
- A. accessing, using one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising;
(1) client information for each of a plurality of respective clients, i, comprising information on client funds held through a program in each of a plurality of depository institutions participating in the program, with information for a respective client comprising;
(i) a balance of funds of the client held through the program in each of multiple of the depository institutions holding funds of the respective client;
(ii) a distribution percent value, Xi, of a given client deposit amount to be distributed in tranches to each of Ni depository institutions; and
(2) information for each of multiple government backed-insured aggregated time deposit instruments holding a tranche of client funds, comprising;
(i) a rate for the respective aggregated time deposit instrument;
(ii) an identification of the depository institution holding the respective aggregated time deposit instrument; and
(iii) a term of the respective aggregated time deposit instrument holding funds of the respective client, andB. performing the following steps for one or more of the clients;
(1) receiving, via the Internet and using the one or more computers, from one of the clients at least one client available distribution amount, Di,(2) determining, using the one or more computers, an amount of a client tranche to be deposited in each of the Ni depository institutions based at least in part on the percentage, Xi, and a value of the Ni depository institutions for the respective client obtained from the one or more electronic databases, and the respective client available distribution amount, Di, in order that the client tranches are approximately equal and the funds are insured with government-backed insurance;
(3) allocating substantially equally, using the one or more computers, respective client tranches to the Ni depository institutions determined for the client, i;
(4) generating, using the one or more computers, data for instructions to transfer the respective client tranches and to purchase one or more financial instruments in each of the respective Ni depository institutions, comprising a purchase of one or more aggregated time deposit instruments at multiple of the respective Ni depository institutions; and
(5) updating, using the one or more computers, one or more of the electronic databases with update data for each of multiple of the clients, i, with the update data for each of the multiple clients, i, comprising data for respective client tranches transferred to purchase the one or more aggregated time depository instruments at the respective Ni depository institutions for the client.
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Abstract
A method, system and program product, the method in one embodiment comprising: A method, comprising: accessing databases comprising: client information for each of a plurality of respective clients, comprising a balance of funds of the client; a distribution percent value, Xi, for tranches; information for each of multiple government backed-insured aggregated time deposit instruments holding a tranche of client funds, comprising: a rate; an identification of the depository institution; a term; and determining a given client available distribution amount, Di; determining an amount of a client tranche to be deposited in each of Ni depository institutions based at least in part on the percentage, Xi, in order that the client tranches are approximately equal and are insured; determining Ni depository institutions to distribute the client tranches; allocating substantially equally respective client tranches to the Ni depository institutions; generating data for instructions to transfer the respective client tranches; updating, the databases.
233 Citations
30 Claims
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1. A method, comprising:
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A. accessing, using one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising; (1) client information for each of a plurality of respective clients, i, comprising information on client funds held through a program in each of a plurality of depository institutions participating in the program, with information for a respective client comprising; (i) a balance of funds of the client held through the program in each of multiple of the depository institutions holding funds of the respective client; (ii) a distribution percent value, Xi, of a given client deposit amount to be distributed in tranches to each of Ni depository institutions; and (2) information for each of multiple government backed-insured aggregated time deposit instruments holding a tranche of client funds, comprising; (i) a rate for the respective aggregated time deposit instrument; (ii) an identification of the depository institution holding the respective aggregated time deposit instrument; and (iii) a term of the respective aggregated time deposit instrument holding funds of the respective client, and B. performing the following steps for one or more of the clients; (1) receiving, via the Internet and using the one or more computers, from one of the clients at least one client available distribution amount, Di, (2) determining, using the one or more computers, an amount of a client tranche to be deposited in each of the Ni depository institutions based at least in part on the percentage, Xi, and a value of the Ni depository institutions for the respective client obtained from the one or more electronic databases, and the respective client available distribution amount, Di, in order that the client tranches are approximately equal and the funds are insured with government-backed insurance; (3) allocating substantially equally, using the one or more computers, respective client tranches to the Ni depository institutions determined for the client, i; (4) generating, using the one or more computers, data for instructions to transfer the respective client tranches and to purchase one or more financial instruments in each of the respective Ni depository institutions, comprising a purchase of one or more aggregated time deposit instruments at multiple of the respective Ni depository institutions; and (5) updating, using the one or more computers, one or more of the electronic databases with update data for each of multiple of the clients, i, with the update data for each of the multiple clients, i, comprising data for respective client tranches transferred to purchase the one or more aggregated time depository instruments at the respective Ni depository institutions for the client. - 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, 30)
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29. A system, comprising:
one or more computers comprising memory wherein the memory stores computer-readable instructions comprising program code that, when executed, cause the one or more computers to perform the steps; A. accessing, using the one or more computers, one or more electronic databases, stored on one or more computer-readable media, comprising; (1) client information for each of a plurality of respective clients, i, comprising information on client funds held through a program in each of a plurality of depository institutions participating in the program, with information for a respective client comprising; (i) a balance of funds of the client held through the program in each of multiple of the depository institutions holding funds of the respective client; (ii) a distribution percent value, Xi, of a given client deposit amount to be distributed in tranches to each of Ni depository institutions; and (2) information for each of multiple government backed-insured aggregated time deposit instruments holding a tranche of client funds, comprising; (i) a rate for the respective aggregated time deposit instrument; (ii) an identification of the depository institution holding the respective aggregated time deposit instrument; and (iii) a term of the respective aggregated time deposit instrument holding funds of the respective client, and B. performing the following steps for one or more of the clients; (1) receiving, via the Internet and using the one or more computers, from one of the clients at least one client available distribution amount, Di, (2) determining, using the one or more computers, an amount of a client tranche to be deposited in each of the Ni depository institutions based at least in part on the percentage, Xi, and a value of the Ni depository institutions for the respective client obtained from the one or more electronic databases, and the respective client available distribution amount, Di, in order that the client tranches are approximately equal and the funds are insured with government-backed insurance; (3) allocating substantially equally, using the one or more computers, respective client tranches to the Ni depository institutions determined for the client, i; (4) generating, using the one or more computers, data for instructions to transfer the respective client tranches and to purchase one or more financial instruments in each of the respective Ni depository institutions, comprising a purchase of one or more aggregated time deposit instruments at multiple of the respective Ni depository institutions; and (5) updating, using the one or more computers, one or more of the electronic databases with update data for each of multiple of the clients, i, with the update data for each of the multiple clients, i, comprising data for respective client tranches transferred to purchase the one or more aggregated time depository instruments at the respective Ni depository institutions for the client.
Specification