Patent ID: 7536326

Claim:
A system for reducing payments risk, liquidity risk and systemic risk associated with payments-based transactions, said system comprising a communications network formed by the interlinking of a plurality of internet protocol (IP) networks; a plurality of user host applications supported over said communications network for use by plurality of users active in payments-based transactions; a plurality of third party host applications supported over said communications network for use by plurality of third parties active in payments-based transactions; and a plurality of payment bank host applications supported over said communications network for use by a plurality of payment banks operating a plurality of domestic payment systems, each said payment bank host application having means for processing payment messages, including payments instructions to be carried out in said domestic payments systems on behalf of a plurality of account holders, including bank correspondents, and wherein each said payment bank host application includes a filter process module for automated processing of said payments-based instructions based on (i) payments risk parameters and (ii) the accounts of said users such that payments instructions breaching said payments risk parameters are rejected back to a payments processing queue for later re-evaluation, thereby reducing payments risk, liquidity risk and systemic risk throughout said system; and wherein said filter process module in each said payment bank host application is integrated with payments processing such that payments instructions are filtered for compliance using suspend payment instructions and said payments risk parameters.