Patents Assigned to Finistar, Inc.
  • Patent number: 7904372
    Abstract: Methods and systems for facilitating transactions between commercial banks and pooled depositor groups are disclosed. Employees of a control center determine interest rate return needs of pooled depositor groups, such as trust departments at commercial banks. The control center employees aggregate the funds to produce a stable funds source and communicate the availability of the stable funds source to commercial banks for core deposits. The commercial banks communicate cash needs to the control center. The control center sets an interest rate to be paid to the pooled depositor groups for use of the funds to at least the depositor groups' expected rate of return and below and the rate that commercial banks are willing to pay for the funds. The banks post master NOW accounts and the pooled depositor groups deposit funds in the master NOW accounts. The pooled depositor groups are allowed to access the funds in the master NOW accounts on a daily basis without penalty.
    Type: Grant
    Filed: August 21, 2003
    Date of Patent: March 8, 2011
    Assignee: Finistar, Inc.
    Inventors: Richard W. Whiting, Kim B. Winslow, Victor Briabrin, Tully M. Ryan
  • Patent number: 7895099
    Abstract: Methods and systems for facilitating transactions (200) between commercial banks and pooled depositor groups are disclosed. Employees of a control center determine interest rate return needs of pooled depositor groups (210), such as trust departments at commercial banks. The control center employees aggregate (204) the funds to produce a stable funds source and communicate the availability of the stable funds source to commercial banks for core deposits (210). The commercial banks communicate cash needs to the control center (202). The control center sets an interest rate (206) to be paid to the pooled depositor groups for use of the funds to at least the depositor groups'expected rate of return and below and the rate that commercial banks are willing to pay for the funds. The banks post master NOW accounts and the pooled depositor groups deposit funds in the master NOW accounts (212).
    Type: Grant
    Filed: August 23, 2004
    Date of Patent: February 22, 2011
    Assignee: Finistar, Inc.
    Inventors: Richard W. Whiting, Kim B. Winslow, Victor Briabrin, Tully M. Ryan