Browse Prior Art Database

Business Model Patent : Integrated Money Management System(IMMS)

IP.com Disclosure Number: IPCOM000013034D
Original Publication Date: 2001-Jul-26
Included in the Prior Art Database: 2003-Jun-12
Document File: 3 page(s) / 37K

Publishing Venue

IBM

Abstract

Disclosed is a service which enables user to access/transact his total money as one account. And this service enables to control his money most effectively based on the customer's priority.

This text was extracted from a PDF file.
This is the abbreviated version, containing approximately 57% of the total text.

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Business Model Patent : Integrated Money Management System(IMMS)

     Disclosed is a service which enables user to access/transact
his total money as one account. And this service enables to control
his money most effectively based on the customer's
priority.

        Normally, a person has many cash cards and credit cards and
deals with many banks, securities, card companies, etc..

        He controls his accounts relationlessly each other.
On the other hand, banks offers many services such as safe
box, money transfer service without charge, etc. based on
customer's money
amount in the account.

        This invention(called IMMS hereafter) acts as a middleman
between the user and banks, securities, card companies etc. and
enables the customer to access his accounts with only one
IMMS cash card. So, with IMMS cash card, he can access any of
his accounts and control all of his money as integrated.

IMMS is composed of followings:

          1) : IMMS common interface for banks, securities, card
companies etc.

2) : IMMS cash card
3) : IMMS terminal
4) : IMMS server
5) : Banks, securities, card companies which support
IMMS

Each component is explained one by one.

          1) : IMMS common interface for banks, securities, card
companies etc.

               IMMS and banks, securites, etc. will exchange
information based on this interface.

For example, the information contains followings

                - Customer's account number and the kind of the
account.

- Balance in the account

                - Date and time
- Service contents and required minimum balance
for the service

                - Secured money for the account when the bank
goes bankrupt

          Table 1. shows an example of the sevices and priority
which user sets.

          In the table, user sets his priority 1 for secured upper
limit. So, his money will not be deposited more than the limits for

1

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each bank

          and the security. And he sets his second priority to the
interest.

So, if his money is $300,000, it is deposited as follows:

Security C : $200,000
Bank B : $ 50,000
Bank A : $ 50,000

          Next month, user has to pay $1,000 to the card company C.
And the payment will be d...