Abstract: A complete system for the purchasing of goods or information over a computer network is presented. Merchant computers on the network maintain databases of digital advertisements that are accessed by buyer computers. In response to user inquiries, buyer computers retrieve and display digital advertisements from merchant computers. A digital advertisement can further include a program that is interpreted by a buyer's computer. The buyer computers include a means for a user to purchase the product described by a digital advertisement. If a user has not specified a means of payment at the time of purchase, it can be requested after a purchase transaction is initiated. A network payment system performs payment order authorization in a network with untrusted switching, transmission, and host components. Payment orders are backed by accounts in an external financial system network, and the payment system obtains account authorizations from this external network in real-time.

Abstract: A decision making system is described whereby a method of performing a detailed level evaluation of one or more products or articles based on a decision makers response to one or more questions relating to the decision makers requirements is described. The method includes the decision maker responding to the question relating to the decision makers functional requirement or requirements talking into account a predefined result type. The response is compared with a product result where the product result reflects a particular functional capability of the article or product in relation to the particular question. This produces an evaluation ratio or series of evaluation ratios which are statistically analysed to determine how well the product or article meets the decision makers requirements.

Abstract: A smart card, (a type of credit card containing storage capacity and processing ability preferably in the form of a microprocessor), is used to store an electronic ticket provided from the service provider's computer system to the customer's computer over an insecure communications line. Upon the request for a ticket from the customer's computer, the service provider's system transmits a ticket loading request token TLR to the customer's computer to be loaded into a smart card of the customer. The smart card responds to the ticket loading request token TLR by producing a ticket loading token TL containing a hash of the ticket loading request token TLR; the smart card's identifier TID; a secret number GC and ticket loading token TL′ from the previous transaction of the smart card. The hash signal is attached to the ticket loading token TL′ from the previous transaction and shipped back to the ticket provider.

Abstract: A method and apparatus for determining the prepayment propensity of borrowers. Earlier payment of loans and particularly mortgage loans can lead to losses being suffered by lenders. The present invention analyzes the demographics associated with a particular borrower to determine both the individual and group based prepayment propensity. The history of the borrower, the history of the demographic group to which the borrower belongs, interest rate trends and other factors are then used to calculate a prepayment score that can be used by the lender to determine the propensity of a given borrower to prepay the loan in question. Where prepayment is a significant risk, inducements to the borrower to leave the loan in force can be made or the loan product can be adjusted to reflect the prepayment risk involved. Loan brokers can also be rated based upon the prepayment propensity of those borrowers who are clients of the broker.

Abstract: A funds transfer system for facilitating electronic funds transfer between a payor and a payee by means of an intermediate trusted third party comprises: a payor station including a device for electronic communication of a payment order, the payment order comprising the payee's name, address and an amount owed by the payor to the payee; a home banking system including a computer structured to communicate electronically at least with the payor station, to receive the payment order, and with the trusted third party; a trusted third party system associated with the trusted third party, the trusted third party system comprising a computer structured to communicate electronically with both the home banking system and a bank of the payee.

Abstract: A computer system, and methods for making and using it, for changing digital electrical signals to generate a valuation of a fractional interest in a contingent interest in property, the computer apparatus including: an input device operable for converting input data representing property into input digital electrical signals representing the input data; a digital electrical computer having a processor, the processor electrically connected to the input device to receive the input digital electrical signals, the processor programmed to change the input digital electrical signals to produce modified digital electrical signals representing a valuation of a fractional interest in a contingent interest in the property associated with at least one lease default condition for the property; a memory electrically connected to the processor, and wherein: the processor manipulates further digital electrical signals to generate at least one document for the contingent interest by inserting the valuation in preexisting te

Abstract: A method and apparatus enables an investor with a portfolio of securities to manage taxable events created by trading securities in the portfolio. A database stores information regarding securities purchased by the investor. A presentation and graphical display format directly linked to the system managing the portfolio of securities enables the investor easily to make a selection as to the shares to be sold for the desired cash and tax results. A graphical display interface provides the investor with a graph having at least two axes showing cash to be received on one axis, and the tax result on another axis, with the investor permitted to click on points that are available. In generating the graph, each point available for selection represents an intersection of a cash and tax result based on the investor's purchases and the current expected sales price for the securities.

Abstract: A multivariate negotiations engine for iterative bargaining which: enables a sponsor to create and administer a community between participants such as buyers and sellers having similar interests; allows a buyer/participant to search and evaluate seller information, propose and negotiate orders and counteroffers that include all desired terms, request sample quantities, and track activity; allows a seller/participant to use remote authoring templates to create a complete Website for immediate integration and activation in the community, to evaluate proposed buyer orders and counteroffers, and to negotiate multiple variables such as prices, terms, conditions etc., iteratively with a buyer. The system provides secure databases, search engines, and other tools for use by the sponsor, which enable the sponsor to define the terms of community participation, establish standards, help promote the visibility of participating companies, monitor activity, collect fees, and promote successes.

Abstract: A method and system for enhanced fraud detection in electronic purchase transactions from a remote site. A user at a remote terminal attempting to conduct an electronic purchase is prompted to input the user's billing address and social security number, where this information is used to verify the billing address of the user. Initially, the input social security number is communicated to a local account database containing information about customers as identified by their social security number. If the local account database contains the input social security number, then a determination is made whether the account associated with that social security number has been authorized for use. If authorization for the purchase transaction is not initially approved or refused according to the information provided in the local account database, then the social security number input by the user is next checked to determine if it corresponds to the user.

Abstract: A computer system for managing a plurality of accounts, each of the accounts being separated into a master account and at least one subaccount associated therewith, and at least one subaccount being a medical savings account (MSA). Each subaccount incorporates a subset of features available for the master account, the features corresponding to the specific needs dictated by the purpose of the subaccount. The purpose of a subaccount, in addition to being an MSA, can include regular payments (e.g., mortgage and other loans), credit/debit card, retirement account, and the like.

Abstract: A product monitoring system for monitoring a variety of products grouped according to their identities on shelves, includes a central computer storing the identification of each group of products on the shelves; a plurality of electronic shelf labels, each located adjacent to a shelf for a group of products, communicating with the central computer, storing the identification of the respective group of products, displaying information relating to the respective group of products, and reading out the identification of the respective group of products; a plurality of portable units each to be carried by a user of the system; and a record memory for each portable unit. Each portable unit includes a read-in device capable of establishing a short-range communication link with the read-out device of each electronic shelf label for reading in the product identification and for recording same in the record memory for the respective portable unit.

Abstract: A system and method for electronically exchanging information related to telecommunication services includes separating data representing the information to be exchanged into predefined segments corresponding to telecommunication services, associating a segment identification code with each segment, and grouping each segment identification code with corresponding data. The system and method also include concatenating the segment identification codes and associated data according to a predefined sequence to form an electronic transaction and transmitting the electronic message to a telecommunications wholesaler or reseller. Preferably, the information is exchanged over a TCP/IP connection in an interactive, transaction-based exchange.

Abstract: A method and system for gathering and storing customer profile data when the customer accesses a website location. Dynamic content messages from company marketing material are selected in accordance with the profile data and used to provide a customized webpage to the customer. In addition, a customer service representative can provide real-time updates to the customized webpage when the customer contacts a customer service representative to place a product or service order.

Abstract: An electronic price label (EPL) system including groups of electronic price labels and method of managing the groups which facilitate group definition, assignment of EPLs to groups, assignment of items to EPLs, and assignment of prices to items. The system includes a plurality of EPLs arranged in a single line of bays within a sign to define a group. A computer coupled to the EPLs defines the group, assigns the EPLs to the group, and assigns item identification numbers and prices to the EPLs. A storage medium stores group definition information, EPL assignments to the group, and item assignments to the EPLs. The storage medium additionally stores a price identifier, which is preferably added to the item identification numbers to form modified item identification numbers.

Abstract: A workflow sequence specified by a process definition is managed by a workflow management system which enacts each segment in the order specified by that process definition. Role-based access control (RBAC) is used to define membership of individuals in groups, i.e., to assign individuals to roles, and to then activate the roles with respect to the process at appropriate points in the sequence. Any individual belonging to the active role can perform the next step in the business process. Changes in the duties and responsibilities of individuals as they change job assignments are greatly simplified, as their role memberships are simply reassigned; the workflow process is unaffected.

Abstract: The present invention provides a system and method for accurately estimating value-at-risk (VAR) of a financial portfolio. The present invention analyzes a distribution of sorted financial data samples to determine an accurate range of upper and lower limits of an expected value of VAR so that an analyst or another financial analysis system may select an appropriate VAR value from the range presented.

Abstract: A method executed by a computer under the control of a program includes the steps of storing financial portfolio data in the computer. The financial portfolio data includes data on a loan representing a liability of a specified entity. A horizon date is selected for the loan. A distribution function is then designated to characterize the probability of different market values for the specified entity at the horizon date. A horizon default point threshold is then adjusted at the horizon date until the area bound by the distribution function, the horizon date, and the horizon default point threshold is equal to a horizon date cumulative default rate for the specified entity. A maturity date is also defined for the loan. A final default point threshold is then determined at the maturity date so that an expected default rate from the horizon date to the maturity date is equal to a maturity date cumulative default rate, less the horizon date cumulative default rate.

Abstract: For use with a computer, a job analysis system and a method of operating a computer to allow it to perform job analysis. In one embodiment, the job analysis system includes: (1) a master job analysis database containing work-oriented, worker-oriented and work context dimensions and work-oriented, worker-oriented and work context dimension job analysis survey portions associated therewith, (2) a products database containing human resource products and (3) a knowledge management module, associated with the master job analysis database.

Abstract: An automated portfolio management system and method which manages data in a database, and populates the database with data from a data feed off the Internet. The system utilizes double leveraging of funds and purchased index puts as insurance against market downturns, to generate a guaranteed high yield. The double leveraging is accomplished by selling covered calls and using a formula to determine the maximum amount to borrow against the portfolio, and using income from both sources to purchase additional stock. The high yield from the portfolio is protected from market downturns by index puts.

Abstract: A Monte Carlo system and method are presented for the pricing of financial instruments such as derivative securities. A path-integral approach is described that relies upon the probability distribution of the complete histories of an underlying security. A Metropolis algorithm is used to generate samples of a probability distribution of the paths (histories) of the security. Complete information on the derivative security is obtained in a single simulation, including parameter sensitivities. Multiple values of parameters are also obtained in a single simulation. The method is applied in a plurality of systems, including a parallel computing environment and an online real-time valuation service. The method and system also have the capability of evaluating American options using Monte Carlo methods.