System and method for managing aggregated accounts

  • US 7,996,308 B1
  • Filed: 07/02/2010
  • Issued: 08/09/2011
  • Est. Priority Date: 02/28/2007
  • Status: Active Grant
First Claim
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1. A method, comprising:

  • (1) accessing, using one or more computers, one or more electronic databases comprising;

    (a) aggregated deposit account information comprising a respective balance of funds associated with each of a plurality of respective government backed-insured, interest-bearing aggregated deposit accounts held among a plurality of depository institutions, wherein funds from client accounts are aggregated with funds of other client accounts in the aggregated deposit accounts; and

    (b) client account information for respective client accounts of respective clients, where the respective clients are associated with one or more respective source institutions, comprising a respective balance of funds from the respective client account held in each of one or more of the government backed-insured and interest-bearing aggregated deposit accounts holding funds of the respective client account;

    (2) obtaining, using the one or more computers, client account transaction information comprising credit information and/or debit information applied to or against a respective client account for a sub-period of time;

    (3) obtaining, using the one or more computers, one or more respective net transfer amounts for one or more sub-periods of time for one or more of the respective source institutions based at least in part on the client account transaction information;

    (4) selecting at least one aggregated deposit account in at least one of the depository institutions to which to deposit/transfer or to withdraw/transfer funds, based at least in part on a selection rule to direct fund transfer activity to this at least one aggregated deposit account, and/or based at least in part on a selection rule to direct fund transfer activity away from one or more other of the respective aggregated deposit accounts;

    (5) determining one or more fund transfer amounts in accordance with the selecting step and based at least in part on the one or more respective net transfer amounts such that the at least one aggregated deposit account in the one or more of the depository institutions will have a fund transfer and one or more of the other depository institutions will not have a fund transfer;

    (6) allocating, using the one or more computers, amounts of funds from multiple of the client accounts among multiple of the depository institutions, so that the respective balance of funds for the sub-period of time in each of the aggregated deposit accounts of the multiple of the depository institutions, after taking into consideration any net fund transfer amount for this respective aggregated deposit account for the sub-period of time, will substantially match a sum of the respective balances of funds from the multiple of the respective client accounts allocated to this respective aggregated deposit account;

    (7) generating data reflecting one or more fund transfers to or from one or more of the aggregated deposit accounts based at least in part on the one or more fund transfer amounts; and

    (8) updating or having updated, using the one or more computers, the one or more electronic databases to reflect the reallocation of amounts for multiple of the client accounts.

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