Patent ID: 7899743
Filing Date: 2011-03-01
Classification: G06Q

Abstract:
1. An automated method 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 being assigned to a processor that creates a plurality of deposits on behalf of a plurality of banks for depositors of the funds, the method comprising: (a) receiving at the processor a plurality of orders to process the funds, each order including an indication of the maturity of the deposits to be established; (b) sorting, using the processor, the deposits to be established by maturity; (c) partitioning, using the processor, each of the fund amounts into a plurality of deposit portions, each deposit portion not exceeding the established deposit insurance limit; and (d) allocating by the processor each of the deposit portions to a specific one of the banks, each specific deposit portion being used to establish a deposit for one of the banks that the deposit portion was allocated to, and wherein the maturity-sorted deposits are allocated so as to match deposits of the same maturity for each bank contributing funds with the funds allocated to the respective bank.