Method and system for auctioning funds using a full-time public network

Abstract

A method for auctioning funds to a bank or by a depositor using a full-time public network, including several steps. A connection is established ( 160 ) to a full-time public network. Bank or depositor criteria received via the full-time public network is accepted ( 162 ). Risk analytics is performed ( 164 ) to facilitate identification of acceptable bidders. At least one bid is accepted ( 166 ) from at least one acceptable bidder via the full-time public network. Each accepted bid is evaluated ( 168 ) based on the bank or depositor criteria to determine whether the bid satisfies the criteria. At least one bid is selected ( 170 ) as a winning bid determined to satisfy the bank or depositor criteria. A system for matching depositors and banks includes at least one depositor computing system ( 212 ), at least one bank computing system ( 216 ), and auctioneer computing system ( 218 ) having several operating modules.

1 . A method for auctioning funds to a bank using a full-time public network, including the steps of: 
 establishing a connection to a full-time public network;    accepting bank criteria received via the full-time public network;    performing risk analytics to facilitate identification of acceptable bidders;    accepting at least one bid from at least one acceptable bidder via the full-time public network;    evaluating each accepted bid based on the bank criteria to determine whether the bid satisfies the criteria; and    selecting as a winning bid at least one bid determined to satisfy the bank criteria.    
     
     
         2 . The method of  claim 1 , further including the steps of: 
 notifying the bank of the winning bidder's identity; and    notifying the winning bidder of the bank's identity.    
     
     
         3 . The method of  claim 2 , further including the step of: 
 facilitating the transfer of funds from the winning bidder to the bank according to the terms of the bank criteria and the winning bid.    
     
     
         4 . The method of  claim 1 , wherein the bank criteria includes a term.  
     
     
         5 . The method of  claim 1 , wherein the bank criteria includes a range of acceptable interest rates.  
     
     
         6 . The method of  claim 1 , wherein the bank criteria includes information pertaining to acceptable risk.  
     
     
         7 . A method for auctioning funds by a depositor using a full-time public network, including the steps of: 
 establishing a connection to a full-time public network;    accepting depositor criteria received via the full-time public network;    performing risk analytics to facilitate identification of acceptable bidders;    accepting at least one bid from at least one acceptable bidder via the full-time public network;    evaluating each accepted bid based on the depositor criteria to determine whether the bid satisfies the criteria; and    selecting as a winning bid at least one bid determined to satisfy the depositor criteria.    
     
     
         8 . The method of  claim 7 , further including the steps of: 
 notifying the depositor of the winning bidder's identity; and    notifying the winning bidder of the depositor's identity.    
     
     
         9 . The method of  claim 8 , further including the step of: 
 facilitating the transfer of funds from the depositor to the winning bidder according to the terms of the depositor criteria and the winning bid.    
     
     
         10 . The method of  claim 7 , wherein the depositor criteria includes: 
 a term; and    a range of acceptable interest rates.    
     
     
         11 . The method of  claim 7 , wherein the depositor criteria includes information pertaining to acceptable risk.  
     
     
         12 . The method of  claim 7 , wherein the deposit criteria are non-standard compared to typical industry practices.  
     
     
         13 . The method of  claim 12 , further comprising the step of: 
 apprising member banks of the non-standard deposit criteria.    
     
     
         14 . The method of  claim 7 , wherein the step of accepting at least one bid from at least one acceptable bidder via the full-time public network comprises the step of: 
 reviewing at least one unfulfilled standing bid to determine whether the unfulfilled standing bid satisfies the deposit criteria; and    automatically accepting unfulfilled standing bids that satisfy the deposit criteria.    
     
     
         15 . A system for auction-based transactional matching of depositors and banks in order to achieve qualified placement of funds so as to satisfy the criteria of depositor and bank, the system comprising: 
 at least one depositor computing system adapted to communicably couple to an auctioneer computing system via the full-time public network;    at least one bank computing system adapted to communicably couple to the auctioneer computing system via the full-time public network;    the auctioneer computing system adapted to communicably couple to the full-time public network, wherein the auctioneer computing system comprises: 
 a depositor criteria module adapted to accept depositor criteria from potential depositors via the full-time public network;  
 a bank criteria module adapted to accept bank criteria from potential depositors via the full-time public network;  
 an auction module adapted to perform an auction-based transactional matching of accepted depositor criteria to accepted bank criteria, wherein each criteria satisfies the requirements of the criteria to which it is matched;  
 a notification module adapted to notify, in response to the matching of an accepted depositor criteria with an accepted bank criteria, the corresponding depositor and the corresponding bank of the match via the full-time public network;  
   wherein the at least one depositor computing system is adapted to communicably couple to the at least one bank computing system following conclusion of the auction-based match in order to execute post-auction activity in accordance with the terms of the depositor criteria and the bank criteria.    
     
     
         16 . The system of  claim 15 , wherein the auctioneer computing system further comprises: 
 a risk analytic module adapted to perform risk analytics on accepted depositor criteria and accepted bank criteria in order to facilitate matching.    
     
     
         17 . The system of  claim 15 , wherein the risk analytic module comprises computer-readable instructions, the execution of which perform the step of: 
 performing risk analytics on accepted depositor criteria and accepted bank criteria in order to facilitate matching.    
     
     
         18 . The system of  claim 15 , wherein the depositor criteria module comprises computer-readable instructions, the execution of which perform the step of: 
 accepting depositor criteria from potential depositors via the full-time public network.    
     
     
         19 . The system of  claim 15 , wherein the bank criteria module comprises computer-readable instructions, the execution of which perform the step of: 
 accepting bank criteria from potential depositors via the full-time public network.    
     
     
         20 . The system of  claim 15 , wherein the auction module comprises computer-readable instructions, the execution of which perform the step of: 
 performing an auction-based transactional matching of accepted depositor criteria to accepted bank criteria, wherein each criteria satisfies the requirements of the criteria to which it is matched.    
     
     
         21 . A method for auctioning banking deposit opportunities to depositors using a full-time public network, including the steps of: 
 establishing a connection to a full-time public network;    accepting banking deposit criteria received from a bank via the full-time public network, including: 
 a deposit amount;  
 a deposit term;  
 a maximum specified interest rate;  
   accepting at least one bid from at least one depositor via the full-time public network, the bid including a bid interest rate no more than the maximum specified interest rate;    selecting at least one winning bid from the accepted bids on the basis of its bid interest rate; and    notifying the bank of the winning bid, including the identity of the winning bidder and the winning bid interest rate.    
     
     
         22 . The method of  claim 21 , further including the steps of: 
 notifying the winning depositor of the bank's identity.    
     
     
         23 . The method of  claim 22 , further including the step of: 
 facilitating the transfer of funds from the winning depositor to the bank to fulfill the banking deposit opportunity according to the terms of the banking deposit criteria and the winning bid.