Patents Examined by Joan Goodbody
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Patent number: 8831976Abstract: System and method that utilizes a participant's points and a single use, virtual credit card account to implement a cash purchase with a cash vendor. The virtual credit card is active for a single purchase only with an available credit equal to the total of the cash purchase price and any fees. The virtual credit card may further be active for a limited period of time.Type: GrantFiled: January 22, 2009Date of Patent: September 9, 2014Assignee: Maritz Holdings Inc.Inventors: Sven Sprogoe, Richard M. Philipak, Jeffrey D. Wagner
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Patent number: 8812394Abstract: A cash recycler or other currency handling device includes a flexible capacity module for adding additional storage capacity to the cash handling device. In some arrangements, all bills of one denomination, i.e., all one dollar bills, may be stored in, deposited into, and/or dispensed from the flexible capacity module. The bills stored in the flexible capacity module may not be debited or credited to a client account at a financial institution because the bills may not be considered part of the inventory of the cash handling device. However count data for the bills in the flexible capacity module may be integrated with data from the cash handling device in order to facilitate balancing, reconciliation, and the like.Type: GrantFiled: February 10, 2009Date of Patent: August 19, 2014Assignee: Bank of America CorporationInventors: Amy Baker Folk, Daniel Christopher Bohen
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Patent number: 8799150Abstract: Systems and methods are described for scoring consumers' credit risk by determining consumers' income risk and future ability to pay. Methods are provided for measuring consumers' income risk by analyzing consumers' income loss risk, income reduction risk, probability of continuance of income, and economy's impact on consumers' income. In one embodiment, a method is provided to evaluate an individual's creditworthiness using income risk based credit score thereby providing creditors, lenders, marketers, and companies with deeper, new insights into consumer's credit risk and repayment potential. By predicting consumers' income risk and the associated creditworthiness the present invention increases the accuracy and reliability of consumers' credit risk assessments, results in more predictive and precise consumer credit scoring, and offers a new method of rendering a forward-looking appraisal of an individual's ability to repay a debt or the ability to pay for products and services.Type: GrantFiled: October 20, 2009Date of Patent: August 5, 2014Assignee: Scorelogix LLCInventor: Suresh Kumar Annappindi
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Patent number: 8781946Abstract: An electronic trading method is provided. The method includes receiving a trading strategy order having a parent trading strategy including multiple quoting legs; splitting the trading strategy order into multiple child orders; and submitting each of the multiple child orders to exchange systems adapted to fill the quoting legs in the child orders. Each child order includes a child trading strategy having a single quoting leg or a reduced number of quoting legs relative to the parent trading strategy. The child trading strategies are the same as the parent trading strategy except for the number of legs marked as quoting legs. The method may be performed by a trading strategy device disposed between a client device and multiple server side devices.Type: GrantFiled: July 14, 2010Date of Patent: July 15, 2014Assignee: Trading Technologies International, Inc.Inventors: Sagy Pundak Mintz, Michael J. Burns
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Patent number: 8762272Abstract: An email payment system and method to provide users with the ability to initiate and send payments to one more recipients via email messaging. A user interface is provided in an email client that allows a user to insert payment with the email. Payment details are collected through one or more payment modals displayed in the email client. A payment object is inserted into the body of the email and is displayed to both the sender and recipient. The payment details captured in the payment object are communicated to a payment processor. The payment processor uses electronic payment accounts associated with the corresponding sender and recipient email addresses to identify the relevant electronic payment accounts and transfer the payment between said accounts. A status of the payment transaction is tracked and displayed within the payment object of the emails residing in both the sender and recipient email client.Type: GrantFiled: December 27, 2012Date of Patent: June 24, 2014Assignee: Google Inc.Inventors: Narelle Cozens, Michael DePasquale, Travis Harrison Kroll Green, Boris Mizhen, Peter Schmitt
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Patent number: 8751352Abstract: An active overlay strategy based on rule-based risk management is implemented by a computer implemented method. The method includes receiving a data value representing implied volatility of a market. The method also includes automatically generating an order to sell call options. The order includes a quantity of call options to sell, where the quantity is determined at least in part based on an evaluation of the data value.Type: GrantFiled: October 8, 2009Date of Patent: June 10, 2014Assignee: Ameriprise Financial, Inc.Inventors: Charles W. Kadlec, John Kurt Schonberg, Gary Alan Terpening
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Patent number: 8751341Abstract: Object differentiation used in the context of complex financial instruments and financial instrument management software is described. A computer-implemented method for the management of complex financial instruments using object differentiation is described. A processor may parse a data object stored on a computer-readable storage medium into a plurality of subparts. The data object may represent a single complex financial instrument. An object differentiation key may be retrieved for each of the plurality of subparts. Using at least the retrieved object differentiation keys, a key figure may be generated for each of the plurality of subparts. A list of the plurality of subparts and the generated key figures may be displayed.Type: GrantFiled: October 9, 2009Date of Patent: June 10, 2014Assignee: SAP AGInventors: Pankaj Jain, Ar Vinodh, Klaus Mueller
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Patent number: 8744945Abstract: A system and method for displaying trade information is disclosed. The method includes receiving from a host exchange a plurality of trade notifications, each trade notification corresponding to an executed trade, and for each executed trade of interest, determining whether the executed trade belongs in an aggregated set with one or more other executed trades. All executed trades in an aggregated set are for the same associated tradable object, have traded at the same associated trade price, and have been executed within a predetermined time period of each other. Aggregated sets are displayed a user display with an associated aggregated quantity, and the remaining executed trades of interest are also displayed. Trades are displayed using an associated indicator for indicating whether the corresponding executed trade or aggregated trade traded on the bid side or on the offer side of the market, and which indicates whether additional volume is available at the associated trade price.Type: GrantFiled: May 19, 2009Date of Patent: June 3, 2014Assignee: Trading Technologies International, Inc.Inventors: Richard Lane, Michael Unetich
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Patent number: 8738488Abstract: A method for a business customer interfacing with a financial institution through a computer network is presented. The method includes an early warning evaluation of the customer and/or entities associated with the customer to identify fraudster/abusers and prevent them from opening online accounts at the financial institution.Type: GrantFiled: October 21, 2009Date of Patent: May 27, 2014Assignee: Branch Banking & Trust CompanyInventors: Lori Hall, Alicia Silla, Teresa Rose
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Patent number: 8712888Abstract: A method for assessing sales activity of a merchant using a computer system coupled to a database is provided. The sales activity includes purchases made by a customer using a financial transaction card over a financial transaction card network. The method includes storing within the database a plurality of merchant profiles wherein each merchant profile describes a customer community of the corresponding merchant utilizing the financial transaction card network, determining a violator merchant profile based on a customer community associated with a violator merchant wherein the violator merchant uses the financial transaction card network to engage in at least one of illegal, potentially illegal and undesirable sales activities with at least a portion of the associated customer community, comparing the violator merchant profile to each merchant profile stored within the database, and identifying at least one potential violator merchant for further investigation based on the comparison.Type: GrantFiled: December 28, 2007Date of Patent: April 29, 2014Assignee: MasterCard International IncorporatedInventors: John D. Chisholm, Paul Paolucci, Teresa L. Bryan, John Brady
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Patent number: 8706606Abstract: A communication interface (1) for an Automated Trading System is disclosed. The communications interface (1) has dedicated hardware (1) array to process messages (4) between an external network (2) and a matching engine (3) in the automated trading system.Type: GrantFiled: July 2, 2009Date of Patent: April 22, 2014Assignee: Zomojo Pty LtdInventors: Matthew Chapman, Matthew John Hurd
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Patent number: 8688561Abstract: A computer-implemented method for automatic defeasance of a base portfolio of swaps, the base portfolio being held between a first counterpart and a second counterpart, including the steps of: receiving at a portfolio database trade data related to the base portfolio; identifying from the trade data at a matching engine trades that have at least one of matching core attributes and matching trade characteristics so as to compile the base portfolio; grouping at a sub-portfolio generator the identified trades into sub-portfolios; determining at a spread value engine a set of allowable spread values for each sub-portfolio; and for each sub-portfolio, generating at a defeasance portfolio engine a defeasance portfolio of swaps comprising at the most two trades, each of the two trades having a spread value selected from the determined set of allowable spread values so that the defeasance portfolio replicates the base portfolio and minimizes gross notional of the defeasance portfolio.Type: GrantFiled: June 10, 2013Date of Patent: April 1, 2014Inventors: Philippe Khuong-Huu, Jean-Pierre Lardy, Christian Daher
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Patent number: 8650081Abstract: Predictive modeling, in which a first simulation model that simulates a first policy for managing a set of data is determined based on a pattern representative of the set of data and first operating variables for the first policy. The first simulation model is optimized and first prediction data that estimates performance of the first policy is computed using the optimized first simulation model. A second simulation model that simulates a second policy for managing the set of data is determined based on the pattern and second operating variables for the second policy. The second simulation model is optimized and second prediction data that estimates performance of the second policy is computed using the optimized second simulation model. The first prediction data is compared with the second prediction data, and a determination of whether the first policy is better than the second policy is made.Type: GrantFiled: December 31, 2008Date of Patent: February 11, 2014Assignee: SAP AGInventors: Binyamin Basel, Yizhak Idan
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Patent number: 8639620Abstract: A financial card, also referred to as an evacuation card, may be activated by an institution during an evacuation and may be used in accordance with usage parameters for the purchase of goods and services from merchants during an evacuation. After the evacuation ends, the financial card may be deactivated. The financial card may have a predetermined spending limit or no spending limit as determined by the institution. The spending limit may be modified during an evacuation, such as if the event underlying the evacuation becomes more severe or the duration of the evacuation increases, for example. In an implementation, the financial card may only be used for purchases within a particular geographic location as determined by the institution, may only be used to purchase certain items, and/or may only be used to make purchases at certain merchants.Type: GrantFiled: March 23, 2009Date of Patent: January 28, 2014Assignee: United Services Automobile Association (USAA)Inventor: Bradly Jay Billman
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Patent number: 8612352Abstract: A decoding system with a decoding engine running on a mobile device The decoding engine decodes signals produced from a read of a buyer's financial transaction card, accepts and initializes incoming signals from a read of a buyer's financial transaction card until the signals reach a steady state, detects the read of the buyer's financial transaction card once the incoming signals are in a steady stat, identifies peaks in the incoming signals and digitizes the identified peaks in the incoming signals into bits. A transaction engine runs on the mobile device and is coupled to the decoding engine. A payment system is in communication with the transaction engine and with a buyer's financial transaction card institution or a first party's financial account. The payment system includes identifying information of second parties qualified by the payment system to conduct business with the payment system.Type: GrantFiled: March 14, 2013Date of Patent: December 17, 2013Assignee: Square, Inc.Inventors: Jack Dorsey, William Henderson, Brian Grassadonia, James M. McKelvey, Xuancong Wen
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Patent number: 8606693Abstract: Methods, apparatuses, and computer program products are provided for facilitating financing of a product transaction. A method may include determining a maximum available back-end product for the product transaction as a function of one or more of a target payment limit or a total advance limit. The method may also include determining a maximum available back-end spread for the product transaction as a function of the target payment limit. The method may further include presenting the maximum available back-end product and the maximum available back-end spread. Corresponding apparatuses and computer program products are also provided.Type: GrantFiled: January 8, 2010Date of Patent: December 10, 2013Assignee: Great Direct Concepts, LLCInventors: Christopher Blackburn, Jarrette Brathwaite, James Bumgarner, John M. Butler, Timothy Hackett, Jason Jones, Matt Lucas, Scott Lukse, Timothy K. Shea
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Patent number: 8606686Abstract: The invention encompasses data analytics, and more specifically, encompasses the efficient gathering and management of data, and the execution of data analysis solutions on complex power and pricing.Type: GrantFiled: March 6, 2009Date of Patent: December 10, 2013Assignee: Versify Solutions, Inc.Inventors: David Ippolito, David Kucharczuk
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Patent number: 8589300Abstract: Systems and methods of conducting a payment transaction using a mobile phone as a relay. The systems and methods receive transaction information associated with a transaction at a mobile communication device from a merchant. They send the transaction information with the mobile communication device to an issuer associated with the mobile communication device. The issuer thereafter sends an authorization response message to the merchant.Type: GrantFiled: June 11, 2012Date of Patent: November 19, 2013Assignee: Visa U.S.A. Inc.Inventors: Ayman A. Hammad, Patrick Lee Faith
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Patent number: 8589287Abstract: A system, according to one embodiment, includes a hybrid account provided by an issuer to a user, the hybrid account having a balance, the balance being either positive, zero, or negative; and a financial instrument including a hybrid card, the hybrid card providing access to the hybrid account, in which transactions using the hybrid card provide interchange income to the issuer, the issuer charges interest to the hybrid account when the balance is negative, and the issuer pays interest to the hybrid account when the balance is positive.Type: GrantFiled: December 5, 2012Date of Patent: November 19, 2013Assignee: Ebay Inc.Inventor: Edward Kim
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Patent number: 8571989Abstract: A decoding system has a decoding engine running on a mobile device. The decoding engine decodes signals produced from a read of a first party's financial transaction card, accepts and initializes incoming signals from a read of a first party's financial transaction card, and detects a read of the first party's financial transaction card. The transaction engine receives as its input decoded first party's financial transaction card information from the decoding engine, and serves as an intermediary between the first party and a second party, so that the first party does not have to share his/her financial transaction card information with the second party. A social network is in communication with the transaction engine.Type: GrantFiled: March 14, 2013Date of Patent: October 29, 2013Assignee: Square, Inc.Inventors: Jack Dorsey, William Henderson, Brian Grassadonia, James M. McKelvey, Xuancong Wen