System and method for allocation to obtain zero activity in one or more selected aggregated deposit accounts

• US 8,571,960 B1
• Filed: 02/05/2013
• Issued: 10/29/2013
• Est. Priority Date: 02/28/2007
• Status: Active Grant

• Current Assignee: Island Intellectual Property LLC (Double Rock Corporation)
• Original Assignee: Island Intellectual Property LLC (Double Rock Corporation)
• Inventors: Bent, Bruce, Bent, Bruce II
• Primary Examiner(s): AMELUNXEN, BARBARA J
• Application Number:
  US13/759,434
• Time in Patent Office: 266 Days
• Field of Search: 705/35, 705/39, 705/36.R, 705/42, 705/4
• US Class Current: 705/35
• CPC Class Codes: G06Q 20/10 specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

A method, program product and system, the comprising: one or more computers, configured for accessing databases comprising: aggregated deposit account information for a plurality of FDIC-insured interest-bearing aggregated deposit accounts held in depository institutions participating in program, and client account information; obtaining via an internet interface transfer data; allocating first amount to and/or from one depository institution, comprising: selecting sub-set of aggregated deposit accounts to deposit or to withdraw funds, while avoiding withdrawing funds for a respective sub-period one or more of other aggregated deposit accounts based on criteria; allocating funds to an aggregated deposit account held in one or more other depository institutions; allocating second fund amount from client accounts among the aggregated deposit accounts to substantially match the first amount; generating data for instructions to transfer funds to or from the sub-set of depository institutions.

Claims

1. A method, comprising:

(A) accessing, using one or more computers, one or more databases comprising;

(1) aggregated deposit account information for a plurality of Federal Deposit Insurance Corporation (FDIC) insured and interest-bearing aggregated deposit accounts held in a plurality of depository institutions participating in a program, each of the respective depository institutions holding one or more of the aggregated deposit accounts, each of the aggregated deposit accounts holding funds of a plurality of client accounts, wherein the aggregated deposit account information comprises a respective balance of funds held in each of the respective aggregated deposit accounts; and

(2) client account information for the respective client accounts, the client account information for a respective one of the client accounts comprising a respective balance of funds of the respective client account held in each of one or more of the FDIC-insured and interest-bearing aggregated deposit accounts holding funds of the respective client account; and

(B) obtaining, using the one or more computers, transfer data associated with a source institution comprising an amount of funds to at least one of deposit/transfer to or withdraw/transfer from one or more of the aggregated deposit accounts in the program;

(C) changing at least one of a minimum cap or a maximum cap for one of the depository institutions based at least in part on data that a current capital usage level or a projected capital usage level has reached a predetermined level for the one depository institution, and storing the minimum cap or the maximum cap that was changed in the one or more databases;

(D) allocating at least one of, an amount to be deposited/transferred to one of the depository institutions or among multiple of the depository institutions, or an amount to be withdrawn/transferred from one of the depository institutions or portions of the amount from more than one of the depository institutions, comprising;

(1) selecting, using the one or more computers, one or more aggregated deposit accounts held in the one depository institution to which to deposit/transfer or to withdraw/transfer funds, while avoiding withdrawing funds for a respective sub-period of time from each of one or more of other aggregated deposit accounts held in one or more of the other depository institutions, based at least in part on at least one of the minimum cap or the maximum cap for the one depository institution;

(2) allocating one or more amounts of funds, using the one or more computers, to one or more of the aggregated deposit accounts held in one or more other of the depository institutions based at least in part on the transfer data and the one depository institution selected to receive a deposit/transfer of funds or from which to withdraw/transfer funds and at least one of the minimum cap or maximum cap for the one depository institution;

(E) generating and communicating data for one or more instructions, using the one or more computers and a network communication link, to transfer funds to or from the one depository institution based at least in part on the allocating step; and

(F) updating, using the one or more computers, the one or more databases with information based at least in part on the allocating step.

2. The method as defined in claim 1, wherein for at least one of the source institutions the allocating is to one or more of the aggregated deposit accounts held in one or more other of the depository institutions that are affiliated with the source institution.

3. The method as defined in claim 2, wherein there is a rule associated with one of the aggregated deposit accounts to direct fund transfer activity away therefrom, and wherein the step of allocating further comprises:

offsetting, using the one or more computers, any withdrawal/transfer from this aggregated deposit account with deposits/transfers from another aggregated deposit account based, at least in part, on whether it is associated in the one or more databases with a same financial entity as the aggregated deposit account with the rule to direct transfer activity away therefrom.

4. The method as defined in claim 2, wherein the source institution is one of the depository institutions, and further comprising:

allocating, using the one or more computers, a second fund amount of funds to or from client accounts of one or more other of the depository institutions from or to the one or more aggregated deposit accounts of the source institution, to substantially offset the respective amount of funds allocated to or from the source depository institution.

5. The method as defined in claim 1,

wherein the changing step comprises increasing, using the one or more computers, at least the minimum cap for one or more of the aggregated deposit accounts in the one depository institution when the current capital usage level or the projected capital usage level for the one depository institution has increased to the predetermined level, and

wherein the allocating step comprises allocating, using the one or more computers, deposits/transfers to the one depository institution to increase funds held in the one or more aggregated deposit accounts therein.

6. The method as defined in claim 1,

wherein the changing step comprises decreasing, using the one or more computers, at least the maximum cap for one or more of the aggregated deposit accounts in the one depository institution when the current capital usage level or the projected capital usage level for the one depository institution has decreased to the predetermined level, and

wherein the allocating step comprises allocating, using the one or more computers, withdrawals/transfers to the one depository institution to decrease funds held in the one or more aggregated deposit accounts therein.

7. The method as defined in claim 1, wherein the current and the projected capital usage levels comprise respectively a current loan portfolio and a projected loan portfolio.

8. The method as defined in claim 1, wherein the allocating an amount step comprises allocating funds from a defined client account population of the client accounts of the one source institution to the subset of one or more aggregated deposit accounts held in one or more of the depository institutions.

9. The method as defined in claim 1, wherein the allocating an amount step comprises allocating funds of the client accounts associated with the source institution up to a predetermined amount to the subset of one or more aggregated deposit accounts held in one or more of the depository institutions that are affiliated with the source institution.

10. The method as defined in claim 1, wherein at least one of the one or more depository institutions is a bank and the one or more FDIC-insured and interest-bearing aggregated deposit accounts comprise a Federal Depository Insurance Corporation (FDIC)-insured aggregated money market deposit account held therein.

11. The method as defined in claim 1, wherein at least one of the one or more depository institutions is a bank and the one or more FDIC-insured and interest-bearing aggregated deposit accounts comprise at least one Federal Depository Insurance Corporation (FDIC)-insured aggregated NOW account held therein.

12. The method as defined in claim 1, wherein the transfer data is received directly from an individual person via the internet interface.

13. The method as defined in claim 1, wherein the transfer data is received via a broker/dealer.

14. The method as defined in claim 1, wherein the transfer data is received via a savings institution.

15. The method as defined in claim 1, wherein the transfer data is received via an investment advisor.

16. The method as defined in claim 1, wherein the transfer data is received via a management institution.

17. The method as defined in claim 1, wherein at least one of the one or more depository institutions is a bank, and the one or more FDIC-insured and interest-bearing aggregated deposit accounts held by the bank comprises an FDIC-insured aggregated money market deposit account held therein, and the bank further has an FDIC-insured aggregated demand deposit account associated with the program;

and

further comprising the step;

generating or have generated instructions to withdraw funds from the FDIC-insured aggregated money market deposit account via the FDIC-insured aggregated demand deposit account.

18. The method as defined in claim 1, wherein the changing the at least one of a minimum cap or a maximum cap step is performed by the one or more computers.

19. A system, comprising:

one or more computers, programmed with computer-readable code, to perform, when executed, the following steps;

(A) accessing, using one or more computers, one or more databases comprising;

(1) aggregated deposit account information for a plurality of Federal Deposit Insurance Corporation (FDIC) insured and interest-bearing aggregated deposit accounts held in a plurality of depository institutions participating in a program, each of the respective depository institutions holding one or more of the aggregated deposit accounts, each of the aggregated deposit accounts holding funds of a plurality of client accounts, wherein the aggregated deposit account information comprises a respective balance of funds held in each of the respective aggregated deposit accounts; and

(2) client account information for the respective client accounts, the client account information for a respective one of the client accounts comprising a respective balance of funds of the respective client account held in each of one or more of the FDIC-insured and interest-bearing aggregated deposit accounts holding funds of the respective client account; and

(B) obtaining, using the one or more computers, transfer data associated with a source institution comprising an amount of funds to at least one of deposit/transfer to or withdraw/transfer from one or more of the aggregated deposit accounts in the program;

(C) receiving a change in at least one of a minimum cap or a maximum cap for one of the depository institutions based at least in part on data that a current capital usage level or a projected capital usage level has reached a predetermined level for the one depository institution, and storing the minimum cap or the maximum cap that was changed in the one or more databases;

(D) allocating at least one of, an amount to be deposited/transferred to one of the depository institutions or among multiple of the depository institutions, or an amount to be withdrawn/transferred from one of the depository institutions or portions of the amount from more than one of the depository institutions, comprising;

(1) selecting, using the one or more computers, one or more aggregated deposit accounts held in the one depository institution to which to deposit/transfer or to withdraw/transfer funds, while avoiding withdrawing funds for a respective sub-period of time from each of one or more of other aggregated deposit accounts held in one or more of the other depository institutions, based at least in part on at least one of the minimum cap the maximum cap for the one depository institution;

(2) allocating one or more amounts of funds, using the one or more computers, to one or more of the aggregated deposit accounts held in one or more other of the depository institutions based at least in part on the transfer data and the one depository institution selected to receive a deposit/transfer of funds or from which to withdraw/transfer funds and at least one of the minimum cap or maximum cap for the one depository institution;

(E) generating and communicating data for one or more instructions, using the one or more computers and a network communication link, to transfer funds to or from the one depository institution based at least in part on the allocating step; and

(F) updating, using the one or more computers, the one or more databases with information based at least in part on the allocating step.

20. The system as defined in claim 19, wherein for at least one of the source institutions the allocating is to one or more of the aggregated deposit accounts held in one or more other of the depository institutions that are affiliated with the source institution.

21. The system as defined in claim 19,

wherein the changing step comprises increasing, using the one or more computers, at least the minimum cap for one or more of the aggregated deposit accounts in the one depository institution when the current capital usage level or the projected capital usage level for the one depository institution has increased to the predetermined level, and

wherein the allocating step comprises allocating, using the one or more computers, deposits/transfers to the one depository institution to increase funds held in the one or more aggregated deposit accounts therein.

22. The system as defined in claim 19,

wherein the changing step comprises decreasing, using the one or more computers, at least the maximum cap for one or more of the aggregated deposit accounts in the one depository institution when the current capital usage level or the projected capital usage level for the one depository institution has decreased to the predetermined level, and

wherein the allocating step comprises allocating, using the one or more computers, withdrawals/transfers to the one depository institution to decrease funds held in the one or more aggregated deposit accounts therein.

23. The system as defined in claim 19, wherein the current and the projected capital usage levels comprise respectively a current loan portfolio and a projected loan portfolio.

24. The system as defined in claim 19, wherein the allocating an amount step comprises allocating funds from a defined client account population of the client accounts of the one source institution to the subset of one or more aggregated deposit accounts held in one or more of the depository institutions.

25. The system as defined in claim 19, wherein the allocating an amount step comprises allocating funds of the client accounts associated with the source institution up to a predetermined amount to the subset of one or more aggregated deposit accounts held in one or more of the depository institutions that are affiliated with the source institution.

26. The system as defined in claim 19, wherein at least one of the one or more depository institutions is a bank and the one or more FDIC-insured and interest-bearing aggregated deposit accounts comprise a Federal Depository Insurance Corporation (FDIC)-insured aggregated money market deposit account held therein.

27. The system as defined in claim 19, wherein at least one of the one or more depository institutions is a bank and the one or more FDIC-insured and interest-bearing aggregated deposit accounts comprise at least one Federal Depository Insurance Corporation (FDIC)-insured aggregated NOW account held therein.

28. The system as defined in claim 19, wherein the transfer data is received directly from an individual person via the internet interface.

29. The system as defined in claim 19, wherein the transfer data is received via a broker/dealer.

30. The system as defined in claim 19, wherein the transfer data is received via a savings institution.

31. The system as defined in claim 19, wherein the transfer data is received via an investment advisor.

32. The system as defined in claim 19, wherein the transfer data is received via a management institution.

33. The system as defined in claim 19, wherein at least one of the one or more depository institutions is a bank, and the one or more FDIC-insured and interest-bearing aggregated deposit accounts held by the bank comprises an FDIC-insured aggregated money market deposit account held therein, and the bank further has an FDIC-insured aggregated demand deposit account associated with the program;

and

wherein the one or more computers are further configured with programming code to cause the one or more computers, when executed, to perform the step;

generating or have generated instructions to withdraw funds from the FDIC-insured aggregated money market deposit account via the FDIC-insured aggregated demand deposit account.

34. The system as defined in claim 19, wherein there is a rule associated with one of the aggregated deposit accounts to direct fund transfer activity away therefrom, and wherein the step of allocating further comprises:

offsetting, using the one or more computers, any withdrawal/transfer from this aggregated deposit account with deposits/transfers from another aggregated deposit account based, at least in part, on whether it is associated in the one or more databases with a same financial entity as the aggregated deposit account with the rule to direct transfer activity away therefrom.

35. The method as defined in claim 19, wherein the source institution is one of the depository institutions, and further comprising:

allocating, using the one or more computers, a second fund amount of funds to or from client accounts of one or more other of the depository institutions from or to the one or more aggregated deposit accounts of the source institution, to substantially offset the respective amount of funds allocated to or from the source depository institution.