Automated float pricing for geographically distributed deposits and accounts

An automated system can be provided for continuously and accurately assigning float to deposit credits within a financial institution. A normalized market segment is continuously assigned to each account by extracting information from a plurality of disparate demand deposit account systems. Deposit...

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Bibliographic Details
Main Authors Elliott, Douglas P, McMann, David, Huff, Lowell R, Flesher, Lynn, Lee, II, Clarence E, Frew, David, Hall, Kelly S
Format Patent
LanguageEnglish
Published 28.02.2012
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Summary:An automated system can be provided for continuously and accurately assigning float to deposit credits within a financial institution. A normalized market segment is continuously assigned to each account by extracting information from a plurality of disparate demand deposit account systems. Deposit credits are gathered from disparate known capture sites and the normalized market segment is assigned to a deposit credit for a corresponding account. A float assignment can then be made for a deposit credit so that the float reflects both a deposit location and current domestic information for the corresponding account. A system for implementing the invention can include a float system connected to a transaction exchange system.