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

  • US 8,386,382 B1
  • Filed: 06/21/2012
  • Issued: 02/26/2013
  • Est. Priority Date: 02/28/2007
  • Status: Active Grant
First Claim
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1. 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 each of more than one of the respective client accounts, the client account information for a respective one of the client accounts comprising;

    a respective balance of client funds held in the program; and

    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 via an internet interface, using the one or more computers, transfer data comprising an amount of funds to deposit/transfer to and/or withdraw/transfer from one or more of the aggregated deposit accounts in the program;

    (C) allocating a first amount to and/or from the one of the depository institutions, comprising;

    (1) selecting, using the one or more computers, a sub-set of one or more aggregated deposit accounts held in one or more of the depository institutions 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 one or more criteria;

    (2) allocating 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 sub-set of one or more depository institutions selected to receive a deposit/transfer of funds or from which to withdraw/transfer funds;

    (D) allocating, using the one or more computers, a second fund amount of funds from client accounts among the aggregated deposit accounts, to substantially match the respective first amount of funds allocated to the one or more aggregated deposit accounts;

    (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 sub-set of one or more depository institutions based at least in part on the allocating the first amount step;

    (F) updating, using the one or more computers, the one or more databases with information based at least in part on one or more of the allocating steps; and

    (G) generating, using the one or more computers, a report on one or more of the fund allocations.

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