Patent ID: 7680731
Filing Date: 2010-03-16
Classification: G06Q

Abstract:
1. A computer implemented method of conducting banking deposit transactions through a network between a bank and its customers, the computer implemented method comprising: providing an interface, comprising at least a computer processor, wherein the interface provides access to a network to which a customer has access; linking a server to the interface over the network; transmitting deposit terms from the server over the network to the customer at the interface, the deposit terms including value dates, tenors and rates at which the bank will execute a deposit for a given currency; receiving at the server from the network a deposit request generated by the customer at the interface in response to the deposit terms, the deposit request comprising a specific value date, specific tenor, specific rate and a principal amount of a deposit for the given currency; and determining at the server whether the deposit terms specified in the received generated deposit request are within predetermined parameters set up between the customer and the bank, wherein the deposit request is automatically executed upon the specific rate in the generated deposit request matching a live rate and the deposit terms being within the predetermined parameters, wherein further the principal amount of the deposit is deposited by the bank at the specific value date, specific tenor and specific rate specified in the executed received generated deposit request in an account of the customer, wherein funds are transferred to the bank from or on behalf of the customer to settle the deposit according to settlement instructions communicated between the customer and the bank.