Patent ID: 7376612
Filing Date: 2008-05-20
Classification: G06Q

Abstract:
1. A method for soliciting competitive terms of deposit operating on a deposit auction system, said system including a programmed computer connected to a network accessible by a plurality of users within a first selected period of time and anonymity means for concealing the identities of prospective depositors, the method executable at said computer comprising: a) receiving a deposit application from a prospective depositor who is a respective one of the users offering money, securities or financial equivalent deposit offer terms; b) assigning a handle to conceal a real identity of said prospective depositor and displaying said depositor's application anonymously; c) receiving from at least one financial institution, who is a respective one of the users communicating over the network, at least a bid for said deposit application wherein said bid being deposit terms comprising at least one of: type of deposit auction over computer network guarantees, payment schedule, deposit rate, securities in exchange or terms of exchange; and d) receiving an electronic instruction from said prospective depositor, notifying and authorizing at least one selected financial institution to access a real identity and personal information of said prospective depositor for a second selected period of time.