Method and system for allocating deposits over a plurality of depository institutions
First Claim
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1. A method, comprising:
- (A) accessing, by one or more computers of a deposit management computer system, one or more electronic databases, stored on one or more computer-readable media, comprising;
(1) aggregated account information for a plurality of Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in a plurality of banks, N, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the aggregated deposit accounts held in the banks in the program, where each client account represents funds of a respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the plurality of the aggregated deposit accounts; and
(2) client account information for each of the respective client accounts comprising a respective balance of funds from the respective client account held in each of the one or more insured and interest-bearing aggregated deposit accounts holding funds of the respective client account; and
(B) performing the following steps for each of multiple of the client accounts;
(1) accessing, by the one or more computers from one or more computers of a client relationship bank computer system, a client available deposit amount, Di, comprising funds to be distributed over Ni respective banks in the program and over Mi remainder banks in the program;
(2) determining, by the one or more computers, a value of Ni banks for the respective client transaction account, based on the client available deposit amount, Di, that is less than a program amount, wherein Ni is a whole number and (X) times (Ni) is less than 100, where X is a distribution percent value to be distributed to each of the Ni banks for the respective client transaction account;
(3) allocating, by the one or more computers, the percentage, X, of the respective client available deposit amount, Di, comprising a respective client bank distribution amount, BNi, to each of the respective Ni banks determined for the client transaction account, up to a predetermined amount in each of the respective client Ni banks;
(4) allocating, by the one or more computers, at least a portion, PRi, of a remainder amount, Ri, of the respective client available deposit amount, Di, where Ri=(Di)−
(Di(Ni*X)/100), to one or more of the remainder banks, Mi;
(C) receiving, by the one or more computers from the one or more computers of the client relationship bank computer system, data for a net withdrawal/transfer for one of the client accounts;
(D) selecting for allocation, using the one or more computers, one or more of the aggregated deposit accounts held in the one or more respective remainder banks for the respective client account and allocating the respective net withdrawal/transfer first to be met with funds of the remainder amount Ri in the one or more respective remainder banks for the respective client account;
(E) generating, by the one or more computers, data for transferring funds to or from one or more of the remainder banks in the program for the one or more aggregated deposit accounts held therein; and
(F) updating, by the one or more computers, one or more of the electronic databases with update data for each of more than one of the client accounts, with the update data for each of these client accounts based, at least in part, on the portion, PRi, of a remainder amount, Ri, allocated to one or more of the remainder banks, Mi, for the respective client account.
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Abstract
A method, system, and program product, the method comprising: (1) aggregated account information FDIC aggregated deposit accounts held in a plurality of banks; (2) client account information: (1) obtaining a client available deposit amount, Di; (2) determining, a bank number tier, Ti, for the client account, from among a plurality of tiers based, at least in part, on a level of funds associated with the respective client or relative to tier ranges, wherein each tier has a number of banks associated therewith or a function for computing the number of banks associated therewith; (3) allocating the client available deposit amount, Di, across a number of banks, NT, equal to the number associated electronically with the tier, Ti; and generating data to transfer funds to or from one or more of the banks.
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Citations
20 Claims
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1. A method, comprising:
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(A) accessing, by one or more computers of a deposit management computer system, one or more electronic databases, stored on one or more computer-readable media, comprising; (1) aggregated account information for a plurality of Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in a plurality of banks, N, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the aggregated deposit accounts held in the banks in the program, where each client account represents funds of a respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the plurality of the aggregated deposit accounts; and (2) client account information for each of the respective client accounts comprising a respective balance of funds from the respective client account held in each of the one or more insured and interest-bearing aggregated deposit accounts holding funds of the respective client account; and (B) performing the following steps for each of multiple of the client accounts; (1) accessing, by the one or more computers from one or more computers of a client relationship bank computer system, a client available deposit amount, Di, comprising funds to be distributed over Ni respective banks in the program and over Mi remainder banks in the program; (2) determining, by the one or more computers, a value of Ni banks for the respective client transaction account, based on the client available deposit amount, Di, that is less than a program amount, wherein Ni is a whole number and (X) times (Ni) is less than 100, where X is a distribution percent value to be distributed to each of the Ni banks for the respective client transaction account; (3) allocating, by the one or more computers, the percentage, X, of the respective client available deposit amount, Di, comprising a respective client bank distribution amount, BNi, to each of the respective Ni banks determined for the client transaction account, up to a predetermined amount in each of the respective client Ni banks; (4) allocating, by the one or more computers, at least a portion, PRi, of a remainder amount, Ri, of the respective client available deposit amount, Di, where Ri=(Di)−
(Di(Ni*X)/100), to one or more of the remainder banks, Mi;(C) receiving, by the one or more computers from the one or more computers of the client relationship bank computer system, data for a net withdrawal/transfer for one of the client accounts; (D) selecting for allocation, using the one or more computers, one or more of the aggregated deposit accounts held in the one or more respective remainder banks for the respective client account and allocating the respective net withdrawal/transfer first to be met with funds of the remainder amount Ri in the one or more respective remainder banks for the respective client account; (E) generating, by the one or more computers, data for transferring funds to or from one or more of the remainder banks in the program for the one or more aggregated deposit accounts held therein; and (F) updating, by the one or more computers, one or more of the electronic databases with update data for each of more than one of the client accounts, with the update data for each of these client accounts based, at least in part, on the portion, PRi, of a remainder amount, Ri, allocated to one or more of the remainder banks, Mi, for the respective client account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10)
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11. A system, comprising:
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one or more computers of a deposit management computer system 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, by one or more computers of a deposit management computer system, one or more electronic databases, stored on one or more computer-readable media, comprising; (1) aggregated account information for a plurality of Federal Deposit Insurance Corporation (FDIC)-insured and interest-bearing aggregated deposit accounts held in a plurality of banks, N, in a program, wherein funds from client accounts of a plurality of clients are aggregated with funds of other client accounts in the aggregated deposit accounts held in the banks in the program, where each client account represents funds of a respective client held in one or more of the aggregated deposit accounts, wherein the aggregated account information comprises a respective balance of funds held in each of the plurality of the aggregated deposit accounts; and (2) client account information for each of the respective client accounts comprising a respective balance of funds from the respective client account held in each of the one or more insured and interest-bearing aggregated deposit accounts holding funds of the respective client account; and (B) performing the following steps for each of multiple of the client accounts; (1) accessing, by the one or more computers from one or more computers of a client relationship bank computer system, a client available deposit amount, Di, comprising funds to be distributed over N, respective banks in the program and over Mi remainder banks in the program; (2) determining, by the one or more computers, a value of Ni banks for the respective client transaction account, based on the client available deposit amount, Di, that is less than a program amount, wherein Ni is a whole number and (X) times (Ni) is less than 100, where X is a distribution percent value to be distributed to each of the Ni banks for the respective client transaction account; (3) allocating, by the one or more computers, the percentage, X, of the respective client available deposit amount, Di, comprising a respective client bank distribution amount, BNi, to each of the respective Ni banks determined for the client transaction account, up to a predetermined amount in each of the respective client Ni banks; (4) allocating, by the one or more computers, at least a portion, PRi, of a remainder amount, Ri, of the respective client available deposit amount, Di, where Ri=(Di)−
(Di(Ni*X)/100), to one or more of the remainder banks, Mi;(C) receiving, by the one or more computers from the one or more computers of the client relationship bank computer system, data for a net withdrawal/transfer for one of the client accounts; (D) selecting for allocation, using the one or more computers, one or more of the aggregated deposit accounts held in the one or more respective remainder banks for the respective client account and allocating the respective net withdrawal/transfer first to be met with funds of the remainder amount Ri in the one or more respective remainder banks for the respective client account; (E) generating, by the one or more computers, data for transferring funds to or from one or more of the remainder banks in the program for the one or more aggregated deposit accounts held therein; and (F) updating, by the one or more computers, one or more of the electronic databases with update data for each of more than one of the client accounts, with the update data for each of these client accounts based, at least in part, on the portion, PRi, of a remainder amount, Ri, allocated to one or more of the remainder banks, Mi, for the respective client account. - View Dependent Claims (12, 13, 14, 15, 16, 17, 18, 19, 20)
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Specification
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Current AssigneeIsland Intellectual Property LLC (Double Rock Corporation)
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Original AssigneeIsland Intellectual Property LLC (Double Rock Corporation)
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InventorsBent, Bruce, Bent, Bruce II, Bent, Rebecca Gareis, Gareis, David Edgar
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Primary Examiner(s)Apple, Kirsten
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Application NumberUS15/241,959Time in Patent Office221 DaysField of Search705/35US Class Current1/1CPC Class CodesG06Q 20/10 specially adapted for elect...G06Q 20/108 Remote banking, e.g. home b...G06Q 40/00 Finance; Insurance; Tax str...G06Q 40/02 Banking, e.g. interest calc...G06Q 40/06 Asset management; Financial...
