| Promontory Interfinancial Network, LLC Patent applications |
| Patent application number | Title | Published |
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| 20110166993 | METHOD AND APPARTUS FOR FULLY INSURING LARGE BANK DEPOSITS - An automated method is provided of processing funds in amounts that are subject to an established deposit insurance limit so that the funds are eligible to be fully insured. The funds are assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds. A plurality of orders to process the funds are received at the processor. The processor prioritizes the plurality of orders for order filling based on various different factors. The processor then partitions each of the fund amounts associated with the order being filled into a plurality of deposit portions in a manner such that each deposit portion does not exceed the established deposit insurance limit. The processor allocates each of the deposit portions associated with the order being filled to a specific one of the banks. In this manner, a deposit is established via the processor at the bank to which the deposit portion was allocated. | 07-07-2011 |
| 20110166991 | AUTOMATED METHOD AND ARTICLE OF MANUFACTURE FOR FULLY INSURING LARGE BANK DEPOSITS VIA A NETWORK OF BANKS WITH LIMITS ON AMOUNT OF ORDERS THAT A BANK AND/OR CUSTOMER CAN PLACE WITH THE NETWORK - An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of unaffiliated banks from their respective depositors. Orders are received at a processor from the plurality of banks to process large deposits. The processor automatically compares each order to a preset maximum order amount. Each of the large deposits for each order are partitioned using the processor into a plurality of deposit portions if the order does not exceed a preset maximum order amount. The partitioning is performed in a manner so that each deposit portion does not exceed the established deposit insurance limit. The processor assigns at least some of the deposit portions for each of the large deposits for each order to at least some banks that are unaffiliated with the bank that received the large deposit for deposit therein if the order does not exceed the preset maximum order amount. | 07-07-2011 |
| 20110166990 | AUTOMATED METHOD AND ARTICLE OF MANUFACTURE FOR FULLY INSURING LARGE DEPOSITS RECEIVED FROM A PLURALITY OF CUSTODIANS FROM THEIR RESPECTIVE DEPOSITORS - An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received from a plurality of unaffiliated custodians from their respective depositors. A processor receives orders from the plurality of custodians to process large deposits. The processor partitions each of the large deposits for each order into a plurality of deposit portions in a manner so that each deposit portion does not exceed the established deposit insurance limit. The processor then assigns at least some of the deposit portions for each of the large deposits for each order to at least some custodians that are unaffiliated with the custodian that received the large deposit for deposit therein. | 07-07-2011 |
| 20110166981 | AUTOMATED METHOD AND ARTICLE OF MANUFACTURE FOR FULLY INSURING LARGE BANK DEPOSITS VIA A NETWORK OF BANKS WHEREIN DEPOSITOR'S BANK RETAINS A PORTION OF THE LARGE BANK DEPOSIT AND THE NETWORK DISTRIBUTES THE REMAINDER - An automated method is provided for processing large deposits that exceed an established deposit insurance limit so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. For selected large deposits received at an unaffiliated bank, a first deposit portion that does not exceed the established deposit limit is retained at the unaffiliated bank that received the large deposit. An order is received from the unaffiliated bank that received the large deposit to process the remaining amount of the large deposit. The processor partitions each of the large deposits into a plurality of second deposit portions, each of which do not exceed the established deposit insurance limit. The processor then assigns at least some of the second deposit portions to at least some of the other unaffiliated banks for deposit therein. | 07-07-2011 |
| 20090138412 | COMPUTER-IMPLEMENTED METHOD FOR FULLY INSURING LARGE BANK DEPOSITS - A computer-implemented method of processing large deposits that exceed an established deposit insurance limit is provided so that the large deposits are fully insured. The large deposits are received by a plurality of unaffiliated banks from their depositors. A processor receives orders placed by the plurality of unaffiliated banks to process the large deposits. The processor partitions each of the large deposits into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit. The processor assigns at least some of the deposit portions to at least some of the unaffiliated banks for deposit therein. In this manner, at least some of the unaffiliated banks that place orders to process large deposits also receive deposit portions from other unaffiliated banks that place orders to process large deposits. | 05-28-2009 |
| 20090043698 | COMPUTER-IMPLEMENTED METHOD FOR FULLY INSURING LARGE BANK DEPOSITS - An Interchange service that allows member banks participating in the service to offer their customers multiple certificates of deposit (“Multi-CDs”) so that large deposits exceeding an applicable Federal deposit insurance limit (e.g., $100,000) are fully insured. The Interchange partitions each of the large deposits into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. The deposit portions are assigned to the member banks so that, for each member bank, the difference between funds flowing out of and into each member bank is minimized or eliminated. Differences in deposit terms offered by each of the member banks are monetized and resolved through the calculation and payment of present value payments, which are transferred between member banks that have different sets of deposit terms. | 02-12-2009 |
| 20080222053 | METHOD AND APPARATUS FOR FULLY INSURING LARGE BANK DEPOSITS - An Interbank Deposit Placement System (IDPS) that allows banks participating in the service to offer their customers multiple deposits so that potential deposit (fund) amounts exceeding an applicable Federal deposit insurance limit (e.g., $100,000) are fully insured. The IDPS partitions each of the potential deposit amounts into a plurality of deposit portions that do not exceed the Federal deposit insurance limit. In one embodiment, a proposed list of banks to which the deposit portions are allocated is presented to a recipient (e.g., bank representative, depositor) who is offered the option of modifying the proposed list during an established time window. After the time window expires, a deposit is established on behalf of each bank on the list to which the specific deposit portion was allocated by the processor. | 09-11-2008 |
